Nutfield Road, Merstham, Redhill

£395,000

THE OPPORTUNITY

An opportunity to purchase the freehold interest under Title No SY593891 this three storey terraced premises offered for sale all fully let comprises of a small kiosk shop unit including the forecourt plus WC to the front then three self-contained flats currently let on an AST basis over the ground floor rear and upper parts. Each flat has been let on a fresh AST from 1.2.22 all EPC and EICR and gas safety checks are valid.  Access to the flats is via the driveway that runs under part of the property to the rear and this provides access to the three flats and separately owned car workshop premises and yard behind. The driveway is included within the freehold but must be kept clear and is subject to rights of way benefitting neighbours to the side and rear. Our Client has decided to sell due to succession planning.The two of the three flats are in need of full refurbishment albeit being subject to existing Assured Shorthold Tenancies.

ACCOMMODATION SUMMARY

No.67:  Small retail (one room) unit with WC which is currently used as a secure store for the adjoining convenience store and rented by the next door neighbour with an opening twixt the two. The front forecourt is within the freehold and currently demised to the shop Tenant .

No.67a:  Split level two bedroom flat over the first and second floors with ground floor entrance.

No.67b: One bedroom first floor flat to the front of the building with kitchen that needs fitting, sitting room, double bedroom and bathroom, all requiring full refurbishment.

No.67c: A ground floor studio flat with bed/sitting room, kitchen/diner and shower room all in need of refurbishment.

GUIDE  PRICE 

Offers in the region £395,000 for the freehold interest.

TENURE

Freehold sale under Title No SY593891 with each separate premises being subject to an existing lease or tenancy agreement (as noted below).

VAT

We are advised that the premises is not elected for VAT at present.

LEASE & TENANCY SCHEDULE

The premises are subject to the following leases:

Address

Tenant

Term

Current Rent (pa)

Next Review

Notes

No. 67

Thuwaragan

Arruran t/a Corners

Convenience store

10 years

From 18.12.19

£4800pax

18.12.24

Tenant break

Provision

18.12.22.

No. 67a

Private Tenant

6 month AST

From 1.2.22

£875pcm/£10,500pa

N/A

AST expires

31.7.22

No. 67b

Private Tenant

6 month AST

From 1.2.22

£650pcm/£7800pa

N/A

AST expires

31.7.22

No. 67c

Private Tenant

6 month AST

From 1.2.22

£600pcm/£7200pa

N/A

AST expires

31.7.22

COSTS

Each party are to bear their own costs in the transaction

BUSINESS RATES & COUNCIL TAX

From internet enquiries only the business rate and Council Tax assessments are as follows:

No. 67                                       Rateable Value  £10,250

No. 67a                                     Council Tax Band B

No. 67b                                     Council Tax Band B

No 67c                                      Council Tax Band B

Uniform Business Rate               

Interested parties should verify this information and any transitional adjustments prior to entering into any contract.

EPC

EPC’s are available for these properties.

No 67 –

No 67a has been rated D (59) valid until 6.1.32

No 67b has been rated D (68) valid until 18.2.32

No 67c has been rated D (59) valid until 6.1.32

A full copy of the EPC’s are available upon request.

VIEWING 

Strictly by appointment with the Landlord’s Sole Agents Robinsons telephone 01737 229200

 

 

  • Commercial element comprises of one small kiosk shop let for retail use under the current E Use Class
  • Three residential flats form the ground floor rear and upper parts
  • Each flat requires updating with 67B & 67C being in need of full refurbishment
  • The shop enjoys the benefit of the front forecourt
  • Located within a busy local shopping parade in South Merstham Village
  • Opportunity to acquire, refurbish and regear

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