The supermarket, located on South Street, is being marketed with an asking price of £1.26 million. In its brochure, estate agent Knight Frank described it as a “right-sized foodstore, developed in the 1980s.”
A mixed-use parade on East Street and Cambridge Place is also being marketed by Knight Frank, with a guide price of £2.375 million.
The property comprises nine retail units, one office suite, and a gym. Numbers 4–6 East Street include three ground-floor shop units, with Pace House above, accessed via Cambridge Place. Cambridge Place contains five shop units, currently arranged as four.
The listings follow news that the Bush Hotel, located opposite Sainsbury’s, has also been put on the market. The Grade II-listed hotel has an asking price of £12 million and is also being handled by Knight Frank.
A marketing brochure described Sainsbury’s as an “attractive, brick-built store under a pitched and part flat roof”, which “fronts South Street and is arranged over ground and first floors”.
The entire property, including the two shop units, is let to J Sainsbury PLC on a 127-year lease expiring in March 2108.
The current rent is £80,000 per annum and is subject to five yearly rent reviews, with the last rent review falling in 2078.
One of the shop units, 16 South Street, houses the Sue Ryder charity shop on a 10-year lease with rent at £42,000 per annum. The other, 6 Cambridge Place is currently vacant.
“Internally, the store offers a large ground floor trading area, which includes an Argos concession, and has been fitted-out to the tenant’s usual high standard,” the spokesperson said.
The sale mentions the adjacent 210-space carpark, which is managed by Waverley Borough Council.
“J Sainsbury plc has a lease over the car park (co-terminus with the store lease) and underlets to the Local Authority, meaning Sainsbury’s can ensure the car park remains for duration of the store lease,” the spokesperson said.
The parade includes stores such as S.U.Y.T. tattoo parlour, Bridges estate agents, Cedrus Butchers, and Oxfam.