Location
On the north side of London Road, in a busy roadside position on the main A308 approach to Kingston town centre from Kingston Hill, almost opposite its junction with Cambridge Road. Kingston and Norbiton railway stations and the main shopping centre are all within 10 minutes walking distance.
Terms
The property is let to Halfords Autocentres Limited on a full repairing and insuring lease for a term of 15 years expiring on 18th April 2028. The rent is reviewed every 5 years, upwards only to RPI, collared and capped at 1% - 3% pa compound over 5 years. The current rent is £88,334 pax from April 2023. The property is not elected for VAT.
TENANT
Halfords Autocentres Limited (Company Registration Number 04050548) is a trading subsidiary of Halfords Group PLC which undertakes the servicing, repair and MOT testing of vehicles through a network of over 600 Autocentre garages and 185 vans in their “Halfords Mobile Expert” (HME) division. The 2022 Group Annual Report < https://halfords.annualreport2022.com/ > confirms a revenue of £368m, up 45.7%, showing a gross profit of £211m, up 36.7%, and an EBITDA of £38.7m, up 14.8%.