Ground and 1st Floor Retail Investment

Key Points

• Prominent High Street Location
• E-Class Retail Investment
• Development/Conversion Potential (subject to planning and lease)
• Rental income £28,000 p.a.
• Situated adjacent to major retailers, such as KFC, Kokoro, Superdrug and Card Factory

Description

The available freehold investment is currently let to a nail salon, with ground floor retail, storage, a W.C and shower room, and a rear kitchen leading to the rear access. The property is accessed from the front via the High Street, with a rear access from Accommodation Road which is a service road for the High Street and Hearts Shopping Centre.

The upper parts are accessed by way of an internal staircase and are used as ancillary storage space. The current lease prohibits this area from being used as residential.

The adjoining unit has a floating freehold over the ground floor retail shop.

There may be potential for the upper parts to be converted into a 2-bed flat with a ground floor kitchen, being split from the retail shop or included into a variation to the lease, subject to the existing leases and obtaining the requisite consents.

Available area

The accommodation comprises the following areas:

Location

The affluent market town of Walton on Thames is located in the county of Surrey approximately 12 Miles (19.4 km) south west of Central London, 2 miles (3.5 km) north of Weybridge, 4.7 miles (7.6 km) and 6.6 miles (10 km) south of Richmond.

The town benefits from excellent road communications being located in close proximity to the A308 and A309, providing direct access to the M3 Motorway and the A3 linking to the M25 and Central London respectively.

Rail links are also strong with regular trains from Walton-on-Thames Station to London Waterloo with an approximate journey time of 25 minutes.

Viewings

Strictly by appointment with sole agents Curchod & Co.

Terms

Sale of the freehold, with offers from £440,000.

The premises are currently held as a whole by way of an effective full repairing and insuring lease to an individual named tenant, for a term of 15-years from 7th November 2023. There is an upward only rent review to OMRV in November 2030. There is a tenant only break in November 2028. The passing rent is £28,000 per annum exclusive. The lease is inside the security of tenure provisions of the Landlord & Tenant Act 1954.

Anti Money Laundering

To comply with Anti Money Laundering regulations, Curchod & Co undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.

Legal Costs/VAT

Each party to be responsible for the payment of their own legal costs incurred in the sale. Prices are quoted exclusive of VAT which may be charged.