Retail premises for sale in High Street, Banstead SM7

Single let income producing investment. Sold with planning consent to convert upper parts - 2 individual flats and enlarged retail ground floor. Privately held Freehold.

Location

Banstead is a town in the borough of Reigate and Bastead in Surrey. It is 3 miles south of Sutton, 5 miles south-west of Croydon, 8 miles south-east of Kingston-upon-Thames and 13 miles south of central London. 101 High Street is situated in a prime location at the centre of Banstead High Street. This is an affluent shopping area located only 20 minutes walk from Banstead railway station to the north with trains direct to London Victoria via Clapham Junction. Other retailers include Waitrose, Boots, M & S Food, Zizzi’s, Cafe Nero, Costa Coffee, Starbucks and a number of independent operators.

Description

101 High Street is a retail unit comprising circa 222 sq ft occupied by The Children’s Trust in Banstead, Surrey for use as a charity shop. The premises are currently arranged over ground, first and second floors. To the rear is a large cleared open area currently not in use, with access directly from the High Street.

Planning consented

Ground floor extension to retail unit, alterations at first floor, including provision of rear terrace, extensions at second floor level, including the provisions of rear terrace, roof lights and the change of use at first and second floors to form 2 no residential aprtments (1 X 2B, 4P; 1 X 3B, 5P) with private outside amenity space.

For sale - freehold commercial investment opportunity with planning to convert upper parts to two residential flats

The below link is reference to the planning application ref: 23/00533/F where further details, conditions and comments can be found.

Tenancies

Full repairing and insuring lease - currently holding over - to The Children’s Trust. Lease dated 2011 and extended to 16th March 2024 at £31,600 per annum exclusive of rates and outgoings. Terms in principle agreed with the existing tenant to remain within the retail part only post redevelopment. Terms can be provided on request.

Rateable value

Rateable value - £30,000

Tenure

Freehold - The property is held under title numbers SY763132 and SY728372

Terms

Offers are invited at £775,000 for the Freehold interests. The asset is not held within any spv and is sold subject to contract and with planning consent granted.

Viewing

For viewing and further information please contact the joint selling agents rh & rw Clutton
rh & rw Clutton East Grinstead Office Ben Hall -
George Back - <br /><br />