Retail premises for sale in Chertsey Road, Woking GU21

From £1,200,000 (£1,435.41/sq. ft)
Interested in this property? Call +44 1483 665954 * or Request Details

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Retail premises for sale 836 sq. ft*

Property description

Key Points

  • Fully Let Mixed Use Investment in a Popular Trading Location
  • £83,200 pa with Stepped Increase on the Ground Floor
  • Development Potential to Rear
  • Complete Refurbishment Undertaken in 2017
  • Description

    The subject property is a four storey mixed used building with rear access from the Local Authority. Car Park also available. The ground floor is formed of an A3 /A5 retail unit currently trading as Roosters Piri Piri with the upper floors occupied as a licenced HMO, with 6 rooms let out on AST contracts on a room by room basis on all inclusive rents.

    Location

    37 Chertsey Road is located in a busy trading location on the edge of Woking Town Centre. Nearby occupiers include Weatherspoon's, Jaipur Indian, kfc, Thali, William Hill, Ladbrokes, Taco Bell, McDonalds, Subway and Nando's. In terms of local transport links the A3 is located 5 miles to the East, with links to London and the South Coast, the M3 6 miles.

    Tenure

    The freehold interest is available subject to the below tenancies.

    The ground floor is let to Farid Ahmed t/a Roosters Peri Peri on a 16 year Fri lease inside the Landlord Tenant Act from 25/12/16 with stepped increases every 4 years. The current passing rent is £38,066 stepping to £41,827 (2024) and £46,509 (2028).

    A rent deposit is £17,303 (6 months ) is also held on account.

    The upper parts are let out on an all inclusive AST rents in line with the below 1 month's deposit is held for each tenant and the appropriate HMO certificate has been obtained by the council for this use:

    Room 1: £600 pcm
    Room 2: £750 pcm
    Room 3: £700 pcm
    Room 4: £750 pcm
    Room 5: £500 pcm
    Room 6: £750 pcm
    Total income is therefore £4,050 pcm or £48,600 per annum (less outgoings.)

    The outgoings for the property are approximately £13,000 pa resulting in a net income on the upper parts of £34,600 per annum and an overall net income of circa £60,000 per annum.

    Property info

    * Sizes listed are approximate. Please contact the agent to confirm actual size.

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    For more information about this property, please contact
    Owen Isherwood, GU1 on +44 1483 665954 * (local rate)

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    Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Owen Isherwood, and do not constitute property particulars. Please contact Owen Isherwood 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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