Freehold Retail Investment with Permitted Development to Convert Upper Parts to Residential
Shop let to DASW Limited (trading as Dorking Glass)
New 10 year shop lease renewal from 25th December 2018 (subject to option)
Shop tenant in occupation for over 15 years
Permitted Development granted in 2018 for conversion of part ground and upper parts from offices to residential (2 x one bedroom and 3 x studio flats)
Highly affluent commuter town
Nearby occupiers include Pizza Express, Café Rouge and ASK Italian
Lot 24
Auction 4th April 2019
Rent £11,500 per Annum Exclusive
Status Sold
Price £478,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
14 miles east of Guildford
26 miles south-west of Central London
Roads
A24, A25, M25 (J9)
Rail
Dorking, Dorking Deepdene, Dorking West
Air
London Heathrow
Situation
Dorking is a highly affluent and attractive market town in Surrey, 26 miles south-west of central London, within the London commuter belt. The property is situated on the southern side of High Street, which provides extensive shopping facilities, together with a variety of cafés, restaurants and bars. The rear of the property fronts Paper Mews Court. The property benefits from being within walking distance to all three of Dorking’s train stations. Other nearby occupiers include Domino’s, Pizza Express, ASK Italian, Wimpy, Subway, Café Rouge and KFC.
Tenure
Freehold.
Location
Miles
14 miles east of Guildford
26 miles south-west of Central London
Roads
A24, A25, M25 (J9)
Rail
Dorking, Dorking Deepdene, Dorking West
Air
London Heathrow
Situation
Dorking is a highly affluent and attractive market town in Surrey, 26 miles south-west of central London, within the London commuter belt. The property is situated on the southern side of High Street, which provides extensive shopping facilities, together with a variety of cafés, restaurants and bars. The rear of the property fronts Paper Mews Court. The property benefits from being within walking distance to all three of Dorking’s train stations. Other nearby occupiers include Domino’s, Pizza Express, ASK Italian, Wimpy, Subway, Café Rouge and KFC.
Tenure
Freehold.
Description
The property comprises a ground floor shop and basement with office accommodation on part ground, first and second floors. Access to the offices is from the rear at Paper Mews Court. The property also benefits from parking to the rear.
VAT
VAT is applicable to this lot.
Planning
The property benefits from Permitted Development (granted 2nd July 2018) for conversion of part of the ground floor, along with the first and second floors to create five flats (2 x one bedroom and 3 x studio flats).
Local Planning Authority: Mole Valley District Council.
Ref: MO/2018/1130/PNO
Tel: 01306 885001
Completion Period
Six Week Completion Available
EPC
Band D
Description
The property comprises a ground floor shop and basement with office accommodation on part ground, first and second floors. Access to the offices is from the rear at Paper Mews Court. The property also benefits from parking to the rear.
VAT
VAT is applicable to this lot.
Planning
The property benefits from Permitted Development (granted 2nd July 2018) for conversion of part of the ground floor, along with the first and second floors to create five flats (2 x one bedroom and 3 x studio flats).
Local Planning Authority: Mole Valley District Council.
Ref: MO/2018/1130/PNO
Tel: 01306 885001
Completion Period
Six Week Completion Available
EPC
Band D
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Part Ground Basement
Retail Ancillary
30.29 sq m 19.90 sq m
(326 sq ft) (214 sq ft)
DASW LIMITED t/a Dorking Glass (1)
10 years from 25/12/2018 until 24/12/2028 (2)
£11,500
25/12/2023
Part Ground First Second
Office (3) Office (3) Office (3)
19.69 sq m 65.40 sq m 67.53 sq m
(212 sq ft) (704 sq ft) (727 sq ft)
VACANT (see planning below)
-
-
-
Total
202.81 sq m
(2,183 sq ft)
£11,500
(1) Dorking Glass was founded in 1939 and supplies and fits glass windows, doors and uPVC double glazing (Source: www.dorkingglass.co.uk). (2) The lease is subject to a tenant option to determine on 25th December 2023. (3) Gross Internal Areas.
