Retail premises for sale

London Road, Camberley GU17

The proposal


Offered for sale freehold is the whole of 3 & 4 White Hart Parade, on ground, first and second floors. The premises provide 2 vacant ground floor retail units (Class E), which have been combined and are currently occupied together by the current owners but could easily be separated to provide two self contained retail units. The first and second floors of 4 White Hart Parade are fully let to 2 x office occupiers whilst the first and second floors of 3 White Hart Parade provide 2 x residential flats which are both let on AST’s (now Assured Periodic Tenancies). To the rear are 4 x separate and vacant garages, again currently occupied by the current owners, which could provide ancillary space for the retail premises or be let out to generate additional income.

The premises could appeal to

a) An occupier looking for freehold retail premises to occupy but with income from the upper parts and potential income from all or some of the garages.

B) An investor looking for an investment property with some existing income and happy to take on the letting of the ground floor retail unit/units and the garages.
Location


Camberley is an expanding commercial centre forming part of the Blackwater Valley area adjacent to the A30, M3 motorway (junction 4) and A331 Blackwater Valley Relief Road. White Hart Parade is located on the London Road in Blackwater, a busy and popular suburb of Camberley and is virtually next door to Blackwater Railway Station (on the Reading to Redhill/Gatwick Airport line) which provides a frequent service to Reading, with the fastest train taking just 16 minutes.

Aldi and Lidl are close by, the parade is also close to the Meadows Roundabout where Tesco, Marks & Spencer and Next are located. Camberley itself has become a very popular destination for restaurants, leisure activities and retail.
Description


3 & 4 White Hart Parade provide 2 properties, each on ground, first and second floors with parking at the front and access for loading, etc., at the rear plus 4 x separate garages. On the ground floor, 3 & 4 White Hart Parade provide Class E/retail premises, Class E use now provides for not only retail use but also office, clinic, restaurant/café, some leisure and light industrial uses. 3 White Hart Parade has W.C.s and a kitchen at the rear plus access for loading, etc. Minor works would need to be undertaken at the rear of 4 White Hart Parade, to provide shared access to additional W.C.’s and a kitchen, currently used by the first floor office tenant. The second floor office has additional separate W.C.’s. Both ground floor retail units feature extensive glazed shop fronts, suspended ceilings, some air conditioning and lighting throughout. There are 4 x large private parking spaces directly at the front, 2 are demised to the first floor office, 2 go with the vacant retail. Lastly, there is on street parking opposite/close by, plus a separate public car park next door to the premises.
Areas


3 White Hart Parade

Ground Floor – Retail – Net Internal - Vacant - 871 sq ft or 80.9 sq m
1st Floor – Offices - Net Internal - Let - 500 sq ft or 46.5 sq m
2nd Floor – Offices - Net Internal - Let - 384 sq ft or 35.7 sq m

4 White Hart Parade

Ground Floor – Retail – Net Internal - Vacant - 538 sq ft or 50.0 sq m
1st Floor – 1 x Bedroom Flat - let on AST (now apt) - 580 sq ft or 53.9 sq m
2nd Floor – 1 x Bedroom Flat - let on AST (now apt) - 461 sq ft or 42.8 sq m

Total Approx. Vacant Retail Area Available - 1,409 sq ft or 1,309 sq m

Total Approx. Area Overall - 3,334 sq ft - 309.8 sq m
Existing lease terms


3 White Hart Parade Ground floor retail unit Vacant – Occupied by the current owners - We would estimate that it should be possible to let the ground floor of Unit 3 at a rent of approx. £20,000 per annum exclusive.

3 White Hart Parade First floor - Let on an Assured Periodic Tenancy at £7,500 per annum exclusive (£625 per month) - This is the larger of the 2 flats. The rent has not been increased for some time. The flat will require some upgrading works but has great scope for increasing the rent to circa £1,000 per month.

3 White Hart Parade Second floor - Let on an Assured Periodic Tenancy at £9,600 per annum exclusive (£800 per month) - This is the smaller of the two flats. The flat would also benefit from some upgrading works.

4 White Hart Parade Ground floor retail unit - Vacant – Occupied by the current owners - We would estimate that it should be possible to let the ground floor of Unit 4 at a rent of approx. £14,000 per annum exclusive.

4 White Hart Parade - First floor - Let on an internal repairing and decorating lease for 7 years, from approx. Jan 2026, with a break clause at the end of the 3rd year and an upward only rent review at the end of year 5 at £8,000 per annum exclusive (£16.00 per sq ft). The lease includes 2 x parking spaces at the front. There is an additional fixed service charge of £3,000 per annum which covers all outgoings, excluding Business Rates and telecoms/internet charges.

4 White Hart Parade - Second floor - The lease has expired and the tenant is holding over and in occupation. The rent is say £6,144 per annum exclusive (£16.00 per sq ft). The inclusive rent payable is £875 per month. Assuming the rental element would be similar to the first floor, at £16.00 per sq ft per annum exclusive, this would equate to a rental only of £6,144 per annum exclusive.

Actual income (approx.) - £31,244. Please note, the rental on the second floor of 3 White Hart Parade is an estimate.

Potential income (approx.) - £65,244. Please note the rents for the ground floor retail units, 3 and 4 White Hart Parade are a guide.
Price


Offers are invited in excess of £795,000 subject to contract, for the freehold interest in the premises.
Tenure


The property is to be sold on a freehold basis.
VAT


We are advised that the property is not registered for VAT and as such VAT will not be charged on the price.
Legal costs


Each party will be responsible for their own legal costs.
Further information and viewings


For further information or to make arrangements to inspect the premises please contact Nigel Dickason at DB Real Estate.