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Agent's details

2-14 High Street & 2-6 Green Lane, TW17

For sale: POA|24,695 Sq Ft|Other, Other Property Types & Opportunities

Property details

FOR SALEPOA
SIZE24,695 Sq Ft
ADDRESS2-14 High Street & 2-6 Green Lane, Shepperton, TW17 8DN
TYPEOther, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON17th April 2024

Description

Key Points

  • 11 retail units with 26 residential units totalling 24,695 sq ft
  • Site area 0.722 acre (0.29 hectare)
  • Opportunity to add value through programme of refurbishment and reletting
  • Lapsed planning consent for rear extension and additional floor to provide 13 additional flats
  • Overall potential income of £655,900 per annum
  • Summary

    Town Centre Mixed Commercial & Residential Investment

    Description

    2-14 High Street comprises of 4 retail units along with a former bank premises consisting of an additional 3 interconnected units, together with an office extension to the rear. There are 12 self contained one and two bed flats on the first and second floor which are vacant and in need of modernisation. 2-4 Green Lane provides an additional 4 retail units on the ground floor together with 8 one and two bed flats on the first and second floor. 6 Green Lane is a recently completed block of 6 one and two bed flats completed in 2019.

    Location

    Shepperton is located on the south west side of the capital (c.15 miles to Westminster), being close to Walton-on-Thames, Weybridge, Chertsey and
    Sunbury Cross. Shepperton enjoys a unique backwater feel but is very close to M3 Junction 1 (1.5 miles) and has some lovely river walks on the Thames at Shepperton Lock. To the south is Weybridge and to the north are Ashford & Staines town centres (5 & 2 miles respectively). Shepperton has its own railway station providing a direct service to Waterloo at 4 minutes and 34 minutes past the hour. Journey time is approximately 53
    minutes to Waterloo.

    The property is located on the main junction of High Street with Green Lane and Laleham Road and Old Charlton Road with the Car Park being accessed via Thurlstone Close. There is a service road/parking area between the High Street and the built frontages which gives pedestrian access to the front of the 6 Green Lane building and their waste bin areas. Shepperton mainline rail terminus is immediately opposite off Green Lane. The property has a frontage to Green Lane and to High Street with a return frontage onto Thurlestone Close on the south side.

    Planning

    Consent was granted by Spelthorne Borough Council in October 2019 (ref: 19/01069/FUL) for a proposed extension of the existing building to include a 3 storey extension at the rear of 8-14 High Street together with an additional third storey, providing for an additional 13 flats. This consent expired in October 2022.

    Tenancy

    Of the 11 commercial units, 6 are currently let producing an income of £133,000 per annum. Out of the 26 residential units, 15 are currently let on Assured Shorthold Tenancies producing an income of £226,800 per annum. Total income currently stands at £359,800 per annum. Tenancy schedule available on request.

    After the programme of refurbishment and reletting has been completed, the total income should reach approximately £628,000 per annum.

    Anti Money Laundering

    To comply with Anti Money Laundering regulations, Curchod & Co undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.

    Location

    marker
    Location: 2-14 High Street & 2-6 Green Lane, Shepperton, TW17 8DN

    Heathrow Terminal 4 (4.4 miles)

    Hatton Cross (5.0 miles)

    Heathrow Terminals 123 (5.1 miles)

    Shepperton (0.0 miles)

    Upper Halliford (1.4 miles)

    Sunbury (2.0 miles)

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