Commercial property for sale in Clarence Street, Staines TW18
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Property features
- To be offered Wednesday 8 May
- High Yielding Mixed Use Investment
- Multi Let Retail/Office Opportunity
- Let to Three Tenants with Two Floors Vacant
- Producing £80,500 per annum
- WAULT of 3.52 Years to Expiry
- Asset Management Potential
- Upper Parts Outside of 1954 Act
- Development/Conversion Potential (stp)
- Guide Price Reflects 12.38% Gross Yield
Property description
Strapline
Auction Sale - 08/05/2024
High Yielding, Multi-Let, Mixed Use Investment Opportunity Occupying a Prominent Central Location
Let To Three Tenants Producing £80,500 per annum with Two Floors Vacant
Permitted Development/Conversion Potential (subject to obtaining the requisite consents)
Description
The property comprises a multi let, mixed use, investment opportunity occupying a prominent central position in Staines.
Arranged across basement, ground and two upper floors, the property is let to three tenants with a weighted average unexpired lease term (WAULT) of 3.52 years to expiry and producing a total aggregate rent of £80,500 per annum.
The property benefits from a strong tenant mix, with the ground floor let to Chancellors Estate Agents and two suites to the upper parts let to two separate recruitment agencies. The property includes six dedicated parking spaces which are currently allocated to the occupational tenants.
The property also offers immediate asset management opportunity via the letting of the vacant suites combined with longer term development/conversion potential (subject to obtaining the requisite consents).
The property sits with a prominent frontage to Market Square and Clarence Street and forms part of the principal commercial area within Staines. The pedestrianised High Street is immediately to the east and the principal river crossing for both vehicles and pedestrians is to the west.
Tenancy
Please see the below tenancy schedule and legal pack for more information.
Planning
Whilst there are no extant planning consents, an application has been submitted for permitted development to convert the upper parts to four residential units.
There may also be potential to increase the total accommodation via an additional floor (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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