The premises occupy a prominent corner position on the South East side of the A23 Brighton Road. Horley Town Centre with its shops and amenities is a short walk away and the rail station less than 1 mile. Horley is well connected with direct trains to London, the M23 and Gatwick Airport closeby.
Two storey premises comprising a shop with self-contained flat above with stores and carpark to the rear. The property is let in entirety to Ryness Electricals Ltd currently producing £23,000pa reducing to £21,000pa when development works and they relinquish the upper floor.
Site area pprox. 4470 sq ft (415m2)
Sale of the freehold interest subject to the lease on the ground floor retail portion.
The property benefits from planning permission for 'extension, alteration and addition of residential accommodation to the existing building on 94 Brighton Road. The proposal would provide an additional 5 No. flats. This includes 2 No. one-bedroom flats and 3 No. studio flats (2 x1b2p and 3 x 1b1p). The existing flat at first floor and retail unit at ground floor will be retained. The existing car park at the rear is also retained and this will provide space for parking, refuse and recycling which are all accessed from Lumley Road. Full details are available from Reigate and Banstead Borough Council Planning Portal www.reigatebanstead.gov.uk/info/20043/planning/956/viewing_planning_applications_at_town_hall As amended on 13/03/2020 and on 30/03/2020."Reference - 20/00503/F Decision Issued Date - Fri 12 June 2020 An appeal decision is pending Reference - 20/02581/F/AP for an improved scheme for 'extension, alteration and addition of residential accommodation to the existing building on 94 Brighton Road to provide 6 self-contained flats" this will involve converting part of the rear store at ground floor creating the additional unit. In addition there is also a Prior Approval via Permitted Development consent under reference 20/01619
Guide price of £650,000 for the freehold interest subject to the existing leases.
Valuation Office Agency lists the Rateable Value of the shop as £13,250.
We understand that the premises is not elected for VAT so VAT will not be payable on the purchase price. All rents, prices and premiums are stated exclusive of VAT under the Finance Act 1989.
Each party to be responsible for their own legal costs in the transaction.
Strictly by prior appointment only through Joint Sole Agents:
Christopher St James
020 8296 1270