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Unterkunft
The property has been measured by BKR Floor Plans and provides the following Net Internal Floor Areas:
| Unterkunft | Sq ft | Quadratmeter | ||
| Einzelhandel | Keller | 989 | 91.88 | |
| Erdgeschoss | Zone A | 389 | 36.14 | |
| Zone B | 394 | 36.6 | ||
| Zone C | 159 | 14.77 | ||
| Zwischensumme | 942 | 87.51 | ||
| Büros | Erste Stock | 996 | 92.53 | |
| Zweiter Stock | 783 | 72.74 | ||
| Gesamt | 3,710 | 344.66 | ||
Floor plans and the BKR measured survey are available within the data room. Prospective purchasers are advised to satisfy themselves as to the floor areas prior to submitting offers.
Amtszeit
Das Grundstück ist Eigentum.
Mietverhältnisse
The property is let in accordance with the below, providing a Weighted Average Unexpired Lease Term (WAULT) of 9.58 years to expiry and 4.58 years to the break options.
Ground Floor & Basement, 1 Bell Street, Reigate, Surrey, RH2 7AA
Let to K & Z Group Limited (Co. No. 13532780), with the tenant’s obligations guaranteed by K & Z Holdings Limited (Co. No. 11205119). The lease is for a term of 10 years from 29 April 2026, expiring on 28 April 2036, on effectively full repairing and insuring terms by way of a service charge contribution.
The lease is subject to a tenant’s break option exercisable on 28 April 2031.
Die aktuelle Übergangsmiete beträgt £54,500 per annum. There is an upward-only rent review on 29 April 2031, linked to the Retail Prices Index (RPI), subject to a collar of 1% per annum and a cap of 3% per annum, compounded annually.
The lease is contracted inside the Landlord & Tenant Act 1954 (as amended).
First & Second Floors, Bank Chambers, 2 Church Street, Reigate, Surrey, RH2 0AN
Let to A B Air Refrigeration Contracting Limited (Co. No. 07407919). The lease is for a term of 10 years from 28 April 2026, expiring on 27 April 2036, on effectively full repairing and insuring terms by way of a service charge contribution.
The lease is subject to a tenant’s break option exercisable on 28 April 2031.
Die aktuelle Übergangsmiete beträgt 36.000 £ pro Jahr. There is an upward-only rent review on 29 April 2031, linked to the Retail Prices Index (RPI), subject to a collar of 1% per annum and a cap of 3% per annum, compounded annually.
The lease is contracted outside the Landlord & Tenant Act 1954 (as amended).
The second floor is currently sub-let to Aptus Technology Limited from 24 April 2026 to 28 April 2031 at passing rent of £15,750 per annum.
The total current passing rent is £90,500 per annum.
Bündnisse
K & Z Group Limited (tenant) is a wholly owned subsidiary of K & Z Holdings Limited (guarantor), an established, family-run multi-unit franchise operator with a trading history spanning almost two decades across the KFC and Pret A Manger brands.
K & Z Holdings has operated KFC franchise restaurants since the late 1980s and was selected by Pret A Manger as one of its inaugural UK franchise partners in 2021/2022, with a portfolio of Pret shops across the South and South East of England transferring to the group in Spring 2022.
We understand the group currently operates 12 Pret A Manger shops across seven counties and 13 KFC restaurants across the South Coast and South London, with K & Z Group Limited acting as the operating entity for the Pret A Manger franchise operations.
K & Z Group Limited has reported the following figures:
| 31-Mar-26 | 31-Mar-25 | 31-Mar-24 | |
| Umsatz | £13,016,301 | £12,693,571 | £8,301,904 |
| Pre-Tax Profit / Loss | -£14,863 | -£220,448 | £73,595 |
| Total Deficit | £470,977 | £461,096 | £280,737 |
K & Z Holdings Limited has reported the following figures:
| 31-Mar-26 | 31-Mar-25 | 31-Mar-24 | |
| Umsatz | £30,544,351 | £28,110,620 | £22,378,884 |
| Pre-Tax Profit / Loss | £354,314 | £157,702 | -£318,051 |
| Total Equity / Deficit | £366,881 | £76,180 | -£77,511 |
We understand that AB Air Refrigeration Contracting Limited (Co. No. 07407919) is a specialist refrigeration and air conditioning contracting business established since October 2010 and are understood to have been operating from these premises for a considerable period.
The company has reported the following figures:
| 31-Oct-25 | 31-Oct-24 | 31-Oct-23 | |
| Umsatz | £38,585,242 | £26,643,150 | £29,811,704 |
| Pre-Tax Profit / Loss | £3,552,760 | £1,483,553 | £2,277,584 |
| Shareholder’s Funds | £5,427,932 | £2,664,264 | £2,055,745 |
Servicegebühr
| K & Z Group Limited | Ground Floor & Basement, 1 Bell Street | £2,950 |
| A B Air Refrigeration Contracting Limited | First & Second Floors, Bank Chambers, 2 Church Street | £2,986 |
| Gesamt | £5,936 |
In 2025, roof repairs and partial external decoration were carried out on the building which resulted in a one-off service charge shortfall. Copies of the service charge accounts and budget are available to download via the data room which demonstrate usual costs for the property will not create a service charge shortfall.
Bemessungswerte
Laut Bewertungsamt beträgt der Einheitswert der Immobilie Folgendes:
| Ground & Basement, 1 Bell Street, Reigate RH2 7AA | £39,750 |
| First Floor, 2 Church Street, Reigate RH2 0AN | £14,500 |
| Second Floor, 2 Church Street, Reigate RH2 0AN | £10,500 |
| Gesamt | £64,750 |
The business rate multiplier is 49.9 pence.
Residential Conversion
Planning permission has previously been granted by Reigate & Banstead Borough Council for an extension of the property and conversion of the first and second floor offices to residential flats. This represents an add-value opportunity for an incoming purchaser and provides a meaningful alternative-use of the existing office accommodation.
Further information can be found on the Reigate & Banstead Borough Council Planning Portal Hier.
EPÜ
The property has an EPC rating of D-92.
MwSt
The property is elected for VAT. Accordingly, it is envisaged that the transaction will be treated as a Transfer of a Going Concern (TOGC).
Vorschlag
Wir sind beauftragt, Angebote in der Region einzuholen £1,140,000 (One Million One Hundred and Forty Thousand Pounds), subject to contract.
A purchase at the asking price reflects a Net Initial Yield of 7.50%, after allowing for standard purchaser’s costs of approximately 5.90%
A Transaction Fee of 1.0% of the Purchase Price plus VAT will be payable by the purchaser.
A purchaser will be re-charged the costs of searches and reports provided in the data room.
Überlegungen zur Investition
An opportunity to acquire a prominent corner town-centre investment in Reigate, Surrey at an attractive Net Initial Yield of 7.50%;
The property is let in its entirety to two tenants producing a combined passing rent of £90,500 per annum, with both leases running until 27 April 2036;
The ground floor and basement retail unit is operated as a Pret A Manger franchise by K & Z Group Limited, an established multi-unit franchise operator with a portfolio of 12 Pret A Manger shops and 13 KFC restaurants across the South and South East of England;
The upper-floor office suite is occupied by A B Air Refrigeration Contracting Limited, a long-standing occupier of the building whose new lease represents a renewal and continuation of an extended trading presence at Bank Chambers;
Fixed, RPI-linked service charge contributions of £5,935.50 per annum in aggregate provide the freeholder with an element of cost recovery that tracks inflation over the lease term;
Planning consent granted by Reigate & Banstead Borough Council for the conversion of the first and second floor offices to four residential flats provides a purchaser with meaningful medium-term optionality over the upper-floor accommodation;
The mutual break options and rent reviews on 27 April 2031 present further opportunities for active asset management, including lease re-gears, income rebasing or repositioning of the upper floors.
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