West Road, Reigate

£420,000 Under Offer

Property Description

  • Well known retail unit with residential uppers
  • Let subject to 15-year lease from 1 July 2013 at a passing rent of £12,500 per annum
  • Self contained split level conversion flat currently let on an Assured Shorthold Tenancy

LOCATION

The premises are situated in a busy and popular neighbourhood parade in an area renowned for a variety of good quality individual traders just south of the town centre, West Road forms the link between Lesbourne Road and Blackborough Road continuation being a busy and important through route connection (B2034) between Reigate and Redhill towns. Junction 8 of the M25 is approximately 2 miles at Reigate Hill and Gatwick Airport approximately 8 miles to the south.

THE OPPORTUNITY

Ground Floor Lock up Shop

Our Client is seeking to sell the freehold investment of the building which comprises the ground floor lock up shop together with front forecourt which is subject to a 15-year lease granted from 1 July 2013 to the Blue Cow (Butchers) Ltd, a well-established butcher’s shop which follows historical trading of this use in the shop for decades. The passing rent is £12,500 per annum until the next rent review 1 July 2019 and the letting is outside the security provisions of the Landlord & Tenant Act 1954.

First & Second Floor Flat

The upper parts currently form a three-bedroom split level flat with gas fired central heating over first and second floors with spacious sitting room, modern kitchen/diner, latterly refitted bathroom, separate WC (floorplans attached) with private pedestrian access at ground floor from the rear and is subject to an Assured Shorthold tenancy expiring 31 October 2017 at a monthly rent of £1,035 per calendar month. It is anticipated that the Tenants may vacate at the end of this term.

DESCRIPTION of

Ground Floor Shop and Basement

Internal frontage

15’10

48.82m2

External frontage

18’ shopfront plus 12’

Overall depth

26’4”

8.03m2

Ground Floor Sales Area 220 sq ft (20.40m2)

Retail Area

220 sq ft

20.40m2

Washing/prep room

143 sq ft

13.30m2

Kitchen

90 sq ft

8.36m2

Basement

210 sq ft

19.51m2

 

 

 

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