Retail premises for sale

High Street, Caterham CR3

First time on the market for over 100 years
Freehold mixed-use retail & residential investment
High Street location
Pharmacy & Indian Restaurant
Includes 4 x 2 bed flats & 1 x 2-bed house
3 Garages
Large rear garden
Total income £99,720 per annum
Freehold price £1,190,000 (subject to contract)
No Vat

Location

The premises occupy a strong High Street location in the centre of Caterham on the Hill which has a wide selection of shops, restaurants and other local amenities.

Caterham on the Hill benefits from good road and rail connections with Junction 6 of the M25 close-by at Godstone. There is a Mainline Railway Station in Caterham Valley (0.75 miles) providing regular services to Croydon and London.

There are a number of on-street parking bays along this section of the High Street as well as free parking in the Raglan Shopping Precinct car park nearby.

Description

An attractive mixed-use, town centre investment. The premises comprise a substantial, detached, three storey building together with rear garden and garages.

There is a well established Pharmacy and Indian restaurant on the ground floor. There are 4 spacious 2-bedroom flats above which have their own access from the rear. One of the flats is let to the Indian Restaurant as part of the restaurant lease and is used for staff. The other 3 flats are let on separate Assured Periodic Tenancies to individuals. There is also an attached 2-bedroom house at the rear known as Rowles Court which is also let on an Assured Periodic Tenancy.

There is a detached block of 3 garages at the rear, two of which are let under a separate licence to the Indian Restaurant and the other one will be sold with vacant possession. The side access leading to the rear of the premises is only suitable for bikes and is not wide enough for cars.

There is a large garden at the rear of the premises.

Epc

This current EPC ratings are as follows:

4A-4B High Street (Chemist) B (35)
4C High Street (Indian Restaurant) B (32)
4A High Street (Flat) D (64)
4B High Street (Flat) D (66)
4C High Street (Flat) D (66)
4XHigh Street (Flat) C (70)
Rowles Court (House) C (70)

Sale Price & Potential

We are instructed to seek £1,190,000 for the freehold, subject to contract. Potential for active management and possible longer term development opportunity.

Tenure Freehold

Vat

We understand that VAT is not applicable to the sale price.