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West Byfleet – Freehold Residential & Retail Ground Rent Investment

For sale: £700,000.00|1,840 Sq Ft|Flat, General Retail, Retail - High Street, Mixed Use, Residential, Retail, Other Property Types & Opportunities

Property details

FOR SALE£700,000.00
SIZE1,840 Sq Ft
ADDRESS29 Station Approach, West Byfleet, Surrey, KT14 6NF
TYPEFlat, General Retail, Retail - High Street, Mixed Use, Residential, Retail, Other Property Types & Opportunities
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON6th October 2022

Description

Investment Consideration:
Gross Initial Yield: 7.33%
Rental Income: £51,300 p.a.
VAT is NOT applicable to this property
Comprises ground floor restaurant (sold-off) and 2 x Residential Flats at First/Second Floor
Great location opposite West Byfleet Train Station which provides direct services to Central London (30 mins) and Guildford (20 mins)
Occupiers nearby include Costa Coffee, Boots Pharmacy and Waitrose, amongst others.

Property Description:
A mid terrace three storey building comprising ground floor restaurant (sold-off) with a self-contained 4-bed flat on the first floor and a self-contained 3-bed flat on the second floor. The flats fall within the definition of a House in Multiple Occupation (HMO).
The property provides the following accommodation and dimensions:
Ground Floor: Restaurant (Sold-Off)
First Floor Flat: 88 sq m (948 sq ft)
4 Bedrooms (1 En-Suite), Kitchen/Living Room, Bathroom/WC
Second Floor Flat: 83 sq m (893 sq ft)
3 Bedrooms (1 En-Suite), Kitchen/Living Room, Bathroom/WC
Total Residential GIA: 171 sq m (1,841 sq ft)

Tenancy:
No.29
The ground floor shop has been sold-off on long leasehold for a term of 999 Years from August 2022 at a ground rent of peppercorn.
No. 29A – Each room is at present let on AST to an Individual on the following terms:
Room 1 - 6 months from 27 October 2020 (Holding Over) at a current rent of £6,000 p.a. Deposit held of £500.
Room 2 - 12 months from 9th March 2022 at a current rent of £5,700 p.a. Deposit held of £475.
Room 3 - 12 months from 1st March 2022 at a current rent of £7,500 p.a.
Room 4 - 12 months from 16th April 2021 (Holding Over) at a current rent of £8,700 p.a. Deposit held of £725.
No. 29B - Each room is at present let on AST to an Individual on the following terms:
Room 1 - 12 months from 8th August 2021 (Holding Over) at a current rent of £6,600 p.a.
Room 2 - 6 months from 19th June 2021 (Holding Over) at a current rent of £6,600 p.a.
Room 3 - 12 months from 10th July 2017 (Holding Over) at a current rent of £10,200 p.a. Deposit held of £1,700.

Location:
West Byfleet lies approximately 15 miles south-west of Guilford and falling within the jurisdiction of Surrey County Council and Woking Borough Council. To the north is Ottershaw, to the east is Byfleet, to the south is Pyford and to the west is Sheerwater. The immediate locality is served by West Byfleet train station providing line services on South West Main Line and situated directly outside the subject property. Fairoaks Airport is also located within 4 miles north-west of the subject property. There are good vehicular transport links provided by the nearby M25 and A3 together providing links in central London, Guilford and surrounding areas. The property is situated opposite West Byfleet Train Station which provides direct services to Central London (30 mins) and Guildford (20 mins). Occupiers nearby include Costa Coffee, Boots Pharmacy and Waitrose, amongst others.

Location

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Location: 29 Station Approach, West Byfleet, Surrey, KT14 6NF

Heathrow Terminal 4 (8.7 miles)

Heathrow Terminals 123 (9.3 miles)

Hatton Cross (9.5 miles)

West Byfleet (0.1 miles)

Byfleet & New Haw (1.3 miles)

Addlestone (2.5 miles)

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