High Street, Horley

DESCRIPTION

We are instructed to sell the freehold interest in the semi-detached ground and first floor fully let ‘E’ use class investment at 30 High Street, Horley.The premises are situated in the centre of Horley, being just a 5 minute walk from Horley Station, close to Gatwick Airport and with road links to the M23 and M25. The premises are currently in use as an estate agent’s office but could suit a number of uses and offers significant opportunities upon expiry of the lease including reverting the use of the 1st floor to residential and a range of uses within class E for the ground floor after the current lease expires.

The premises has the benefit of plenty of footfall and passing traffic in its High Street location with the town centre car park directly behind but also, its own off-street parking for 4/5 cars.

Approx. dimensions as follows: -

Retail area Approx.         323 sq ft (30.04m2)

Ancillary areas Approx.   166 sq ft (15.47m2)

First Floor office Approx.402 sq ft (37.40 m2)

Net Internal Area Approx. 891 sq ft (82.91m2)

GUIDE PRICE    

£215,000 per annum exclusive for the freehold. Our guide price is calculated on a 7% yield with no purchaser’s costs deducted due to the relatively low guide price.

TENURE    

The freehold is being sold subject to the five-year lease granted to Connells Residential from 22.3.23 at the passing rent of £15,000 pax. The lease is inside the LTA 1954 security provisions with no lease break provision and on full repairing and insuring terms. Connells have been in occupation for over 40 years, prior to the current lease commencing and in the year to Dec ’24 the group turned over £1.1billion.

VAT

We believe that the premises are not elected for VAT All rents, prices and premiums are stated exclusive of VAT under the Finance Act 1989. Accordingly, interested parties are advised to consult their professional advisers as to their liabilities, if any, in this direction.

RATES

We understand from an online search that the premises has a rateable value of £10,500 with the Tenant liable for business rates.

LEGAL COSTS

Each party to be responsible for their own legal costs in the transaction.

EPC

The premises have an EPC rating of B (49).

VIEWING

Strictly by prior appointment only through sole agents:

ROBINSONS - Sole Agents

01737 229200

www.robinsonsmb.com

• Opportunity to purchase a freehold let investment within Horley town suitable for a variety of uses in the future within the existing and flexible ‘E’ use class for sale due to asset succession planning
• Premises is subject to a 5 year lease from 22.3.23 at a passing rent of £15,000 pax to Connells Residential
• Parking to the rear for up to 5 cars