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Agent's details

26 Coombe Road, Kingston upon Thames KT2 7AG

For sale: £1,150,000.00|935 - 1,993 Sq Ft|General retail, Retail, Offices, Flat, Retail - Out of Town, Residential

Property details

FOR SALE£1,150,000.00
SIZE935 - 1,993 Sq Ft
ADDRESS26 Coombe Road, Kingston Upon Thames, Surrey, KT2 7AG
TYPEGeneral retail, Retail, Offices, Flat, Retail - Out of Town, Residential
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON14th January 2022

Description

Prominent 3 storey property in the sought after Coombeside area.
Situated in active retail / restaurant location close to Norbiton Railway Station.
Ground floor retail with A3/A5 restaurant use and suitable for other class E uses including offices, medical, café or general retail.
2 newly refurbished self-contained upper floor flats - 1x 2 bed and 1x 1 bed.
Ideal for owner occupier or investment buyer.
Potential rental income of £63,100 per annum.
We are advised that the property is not elected for VAT.
£1,150,000 (One Million One Hundred and Fifty Thousand Pounds) subject to contract.

A 3 storey mid-terrace property comprising a ground floor retail premises with A3/A5 restaurant use including a fitted extract flue, whilst there is a newly refurbished 1 x 2 bedroom flat on the first floor and a 1 x 1 bedroom flat with access to a roof terrace on the second floor.
Terms have been agreed with a restaurant operator to take a 12 year lease at £29,500 per annum.
There is a new entire roof to both the main ground floor building and the rear extension.

THE PREMISES IS ARRANGED AS FOLLOWS:

GROUND FLOOR RETAIL UNIT
Ground floor shop with A3/A5 restaurant use, which can also be used for a number of other uses such as offices, retail, medical practice, and fitted with an extract flue. There are double glazed folding doors to the front which open onto to the decking area that has permitted seating.
There is a door at the rear leading to a courtyard area which may have the possibility of being developed.
In addition, the rear extension has a new flat roof with skylight domes, and a double loading door leading to the rear exit on Chatham Road.

FIRST FLOOR FLAT (2 Bedrooms)
Newly refurbished first floor apartment comprising a large reception room with large double glazed windows to the front, 2 bedrooms, fully fitted kitchen with oven, gas hob, extractor and stainless steel sink, new boiler, bathroom, central heating and double glazed throughout.

SECOND FLOOR FLAT (1 Bedroom)
Newly refurbished and spacious second floor apartment comprising reception room with double glazed French doors leading to a large decked terrace, fully fitted quality kitchen with oven, gas hob, extractor and stainless steel sink, and a new boiler. There is a double bedroom with spacious built in wardrobes, bathroom with large shower and enclosed basin with cupboards below and a WC, central heating and double glazed windows throughout.

PLANNING
Planning consent was granted (05/12532/FUL) on 24th March 2006 for the ground floor to be used as an A3/A5 restaurant and takeaway premises.
In addition, a licence was granted on 9th June 2008 for the sale of alcohol between the hours of 08:00 and 00:30 Monday to Saturday and 10:00 and 23:30 on Sundays.
It may be possible to continue with these consents and licences and this should be checked with Kingston Council.

INVESTMENT CONSIDERATIONS
Our client has agreed terms with a restaurant operator to take the ground floor retail premises on a new 12 year lease subject to 4 yearly upward only rent reviews at £29,500 per annum exclusive. We estimate that this would therefore provide a rental income of £63,100 per annum following the further lettings of the upper floor residential flats.

TENURE
Freehold.

SALE PRICE
£1,150,000 (One Million One Hundred and Fifty Thousand Pounds), subject to contract.

VAT
We are advised that the property is not elected for VAT.

EPCs
Ground Floor: C (50) First Floor: D (61) Second Floor: D (67)

Location

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Location: 26 Coombe Road, Kingston Upon Thames, Surrey, KT2 7AG

Wimbledon (3.5 miles)

Richmond (3.6 miles)

Morden (4.1 miles)

Norbiton (0.2 miles)

Kingston (0.6 miles)

Berrylands (1.0 miles)

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