Fully Let Mixed Used Investment in a Popular Trading Location. Development Potential to Rear.
37 Chertsey Road is located in a busy trading location on the edge of Woking Town Centre. Nearby occupiers include Wetherspoons, Jaipur Indian Restaurant, KFC, Thali:, William Hill, Ladbrokes, Taco Bell, McDonalds, Subway and Nandoâs. In terms of local transport links; the A3 is located 5 miles to the East, with links to London and the South Coast, the M3 6 miles away and the M25 (J11) 5 miles away. Woking mainline train station is located less than 200m away from the subject property with regular services to London Waterloo and Portsmouth Harbour and the Bus Station is located adjacent serving multiple surrounding towns and villages.
The subject property is a four storey mixed use building with rear access from the Local Authority Car Park also available. The Ground floor is formed of an A3/A5 retail unit currently trading as Roosters Piri Piri, with the upper floors occupied as a Licenced HMO, with 6 rooms let out on AST contracts on a room by room basis on all-inclusive rents.
The net internal area for the Ground Floor is approximately as follows: Ground Floor Net Internal Area 77.66 sq m 836 sq ft ITZA Area 52.25 sq m 562 sq ft Upper Parts The upper parts are formed of 6 rooms of various sizes ranging from 106 sq. ft. for the smallest to 269 sq. ft. for the largest.
The Freehold interest is available subject to the below tenancies; more information can be provided on request. The Ground Floor is let to Farid Ahmed (T/a Roosters Piri Piri) on a 16 year FRI lease inside the 1954 Landlord & Tenant Act from 25/12/16 with stepped increases every 4 years. The current passing rent is £34,606 p.a. stepping to £38,066 (2020), £41,827 (2024) and £46,509 p.a. (2024). A rent deposit of £17,303 (effectively 6 months) is also held on account. The Upper Parts are let out on all-inclusive AST rents in line with the below; 1 months deposit is held for each Tenant and the appropriate HMO certification has been obtained from Woking Borough Council for this use: Room 1 - £600 pcm Room 2 - £750 pcm Room 3 - £700 pcm Room 4 - £750 pcm Room 5 - £500 pcm Room 6 - £750 pcm Total income is therefore £4,050 pcm or £48,600 p.a. (less outgoings). The outgoings for the property are approximately £15,000 p.a. resulting in a net income on the upper parts of £33,600 p.a. and an overall net income of circa £67,500 p.a.
Both parties to bear their own legal costs incurred in the transaction.
Strictly by appointment with the Joint Sole agents.
37 Chertsey Road, Woking, GU21 5AJ
Type: Residential, General Retail, Retail - High Street, Retail - Out of Town, Retail
The property is located on the north side of Maybury Road, Woking close to the junction with Monument Road. The town centre is within a short walk which provides good rail connections to London Waterloo and Portsmouth Harbour.
The property comprises a pair of semi-detached two-storey Victorian buildings fronting Maybury Road, Woking. The ground floor front comprises retail space with the rest of the ground floor used as ancillary office/storage and kitchen. The first floor provides a mix of office and residential accommodation. To the rear of the site is a single-storey warehouse erected in 2009 under Planning Reference 2009/0007.
In addition to the various buildings, the sale will also include a section of the garden to the rear of 150 Maybury Road and a further piece of land which runs along the rear of 143-150 Maybury Road.
ACCOMMODATION (see attached PDF) The rear gardens provide a combined site area of 383.22 sq m / 4,125 sq ft approx Total site area – land and buildings = 1,135.52 sq m / 12,223 sq ft approx
PLANNING We believe the premises provides a number of opportunities for alternative uses including residential which would require planning, but any interested parties would need to make their own enquiries at Woking Borough Council Planning Department – Tel: 01483 743843.
PRICE The property will be sold with vacant possession from August 2018 when the occupier relocates to alternative premises. We are seeking offers in excess of £1.15 million. We are advised the sale will not attract VAT.
PROPERTY OF INTEREST TO OWNER OCCUPIERS / INVESTORS / DEVELOPERS