LOCATION Situated on the corner of Honeycrock lane and the A217 Brighton Road the plot enjoys a prominent position opposite a new housing development and the Brighton Road parade of retail units.
DESCRIPTION The premises comprise a ground floor retail unit formerly operating as a Post Office and convenience store with linked two storey attached house all in need of refurbishment. The ground floor of the house has provided ancillary office and stores to the shop and kitchen on the ground floor plus four rooms and bathroom on the first floor. Outside there are attached stores plus detached former Parish Hall, external WC and detached garage. Gardens surround the property on two sides. We are of the view that the premises and site could suit a wide variety of uses.
PLANNING We are not aware of any consents for redevelopment. From our investigations historical planning records only identify applications in connection with the former trading business for signage and use of the Parish room. GUIDE PRICE £500,000 for the freehold interest, subject to contract with full vacant possession upon completion. TITLES We believe that the premises being sold are under two separate titles with the main site and Parish room separated. We believe the latter was purchased at a later stage by our client. VAT We are advised that the premises are not elected for VAT at present and therefore VAT will not be charged on the sale. BUSINESS RATES FOR THE SHOP Available on request. Interested parties should make their own enquiries with the relevant local authority. EPC This property has a rating of B (47)
The property comprises a two storey detached building with single storey extensions to the side and rear elevations beneath a mix of pitched and flat roofing. The building has painted rendered elevations and single glazed wooden framed fenestration.
Externally there is an enclosed trade garden to the rear elevation with seating on wooden benches for 12 customers. In addition there is seating to the front elevation for 6 customer on a wooden bench.
To the rear of the property is a service yard with access from Station Lane.
The car park to the front elevation provides parking for 4 vehicles.
- Located on the well-established Holmethorpe Industrial Estate in Redhill Surrey - Secure level site of approximately 2.05 acres - Comprising five industrial units renovated in 2015, totalling 47,076 sq ft - Passing rent £245,633 per annum exclusive, equating to a low average of £4.50 per sq ft with a reversionary rent of £398,070 per annum - Offers in excess of £4.5 Million reflecting a low capital value figure of £82.31 per sq ft - A purchase at this level would reflect a net initial yield of 5.11%, assuming purchaser's costs of 6.75% with a reversionary yield of 8.85% - Freehold - Good proximity to Central London with excellent road and rail links - Good asset management potential with reversionary rents ( Agency Pilot Software Ref: 177 )
• Office building with planning consent for conversion to 10 residential units • 0.356 hectare site (0.88 acres) • For sale freehold • Seeking unconditional upon planning offers View our dedicated website for more details: www.pattesoncourt.com