Prominent retail investment for sale

Key Points

• Two retail units 260 & 1,204 sq.ft.
• Rent income £46,170 per annum

Description

The premises being sold comprise two retail units on ground floor level with exclusive car parking situated to the rear. There are two flats above the retail units which are not included which can be available subject to further specific enquiries.
Unit 31 is let to a local bakers/cafe who have been in occupation since 1998. The property is occupied under a lease due to expire on 11th January 2027 at an annual rental of £29,000.
Unit 31A is let to a privately owned chain of jewellers with a lease due to expire on 31st January 2026 at an annual rental of £15,000.
The two flats above are each held on a lease granted for a term of 125 years from 1st July 2016 subject to an annual rental of £250.00 per annum increasing by £250.00 per annum every 25 years.
Two car parking spaces are separately let at a rate of £100.00 per month (£1,200 per annum). A further car parking space is separately let at a rate of £60.00 per month (£720.00 per annum).

Available area

The accommodation comprises the following areas:

Location

The property is situated in the heart of Camberley High Street in one of the prime locations opposite the main entrance into The Mall Shopping Centre. Camberley is a thriving shopping centre and the High Street has recently been going through a significant refurbishment programme. Major plans for further regeneration and refurbishment of other areas of the town centre are being developed by the Local Authority and their development partners.
The town centre is home to many pubs, restaurants and multiple retailers such as Jackwills, Next, W H Smith, Boots, Sainsburys and House of Fraser.

Terms

The freehold interest of the property is available subject to a price in the region of £500,000 exclusive of VAT.

Rateable Values

From 1st April 2023 - Unit 31 - £12,750/Unit 31A - £6,300