Woodhatch is a vibrant and thriving local shopping centre located approximately 1 mile to the south of Reigate town centre. Reigate is a prosperous market town situated 18 miles to the south of Central London with Gatwick Airport 4 miles to the south and Junction 8 of the M25 London Orbital Motorway 2 miles to the north.
The property is situated on Prices Lane close to its junction with the busy A217 London to Gatwick road. Customer parking is available along the slip road immediately in front of the premises.
DESCRIPTION & ACCOMMODATION
The property comprises a mid-terrace retail unit on the ground floor together with a self-contained, two bedroom flat above. The shop provides a largely open plan area and currently trades as Great Lengths hairdressers. The flat is currently sub-let on an Assured Shorthold Tenancy at a rent of £850 per calendar month and has its own separate entrance onto Prices Lane. The flat also benefits from rear access and A garden.
The approximate net internal floor areas are as follows: -
The premises are available by way of an assignment of the existing 10 year lease which expires on 15 May 2023. A new lease is potentially available, if preferred. The current passing rent is £18,000 per annum exclusive and there are no further rent reviews due under the lease.
The lease, goodwill of the existing business, fixtures and fittings are available for £35,000 plus stock at valuation. Subject to contract
Further details and accounts are available upon request.
Subject to contract.
VAT - We understand that VAT is not applicable to the rent.
RATES - The Valuation Office Agency describes the property as “Shop & Premises” and advises that the 2017 Rateable Value is £6,600. The UBR for 2019/20 is 49.1 pence in the £.
LEGAL COSTS - Each party is to pay their own costs