Commercial property for sale in High Street, Godalming GU7
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Property features
- To be offered on Tuesday 16 April
- Prime High Street Investment Opportunity
- Two Retail Units with Commercial Upper Parts
- Let to Toni & Guy and Holland & Barrett
- Second Floor Let to Pilates Studio
- Producing £71,000 per annum
- Vacant First Floor Offering Both Asset Management and Development Potential (stp)
- Large Rear Yard with Separate Rear Access
- Affluent and Popular Location
- Guide Price Reflects 10.5% Gross Yield
- Erv Reflects 16.2% Gross Yield
Property description
Strapline
Auction Sale - 15/04/2024
Prime, High Yielding, Mixed Use Investment In Affluent and Popular Location
Two Retail Units with Commercial Upper Parts and Large Rear Yard + Access.
Let to Toni & Guy, Holland & Barrett and a Pilates Studio Producing £71,000 per annum, with the Vacant First Floor Offering Both Asset Management and Development Potential (subject to obtaining the requisite consents).
Description
The property comprises a prime, mixed use, multi let investment opportunity situated in a prominent position on Godalming High Street.
Arranged across ground, first and second floors, the property comprises two ground floor retail units with separately accessed commercial upper parts.
The ground floor retail units are let to the well known High Street brands of Toni & Guy and Holland & Barrett. The first floor is currently vacant whilst the second floor is let to jw Pilates.
The current total aggregate rent is £71,000 per annum, with evident asset management potential via the letting of the vacant space. We consider the erv of the asset when fully let to be in the order of £110,000 per annum.
The property also includes a large rear yard and car park which benefits from separate access from Lower South Street.
Tenancy
Please see the tenancy schedule for full information
Planning
Whilst there are no extant planning consents, we consider the upper parts, and in particular the vacant first floor, offer potential for development/conversion to alternative uses, including residential. There may also be potential to increase massing of the site at the rear to provide additional accommodation. Any planning potential is subject to existing leases and any requisite consents.
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National Auctions for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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