Freehold Retail Parade and Residential Investment with Residential Planning consent
Substantial Unbroken Corner Retail Parade
Includes 5 retail Units, 4 Maisonettes, 4 Recently Converted Flats and Rear Parking
Affluent Surrey Location
Planning Consent Granted to Develop 4 Additional Self Contained Flats on Car Park
Nearby Occupiers Include Waitrose Supermarket, Boots Opticians, Lloyds Pharmacy, Subway and Various Independent Restaurants and Pubs.
Lot 7
Auction 24th September 2021
Rent £168,830 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail, Residential, Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
29 miles south east of Central London
8 miles north west of Guildford
Roads
M3, A331, A325
Rail
Frimley Train Station
Air
London Heathrow Airport,
London Gatwick Airport
Situation
The affluent Surrey town of Frimley is located approximately 29 miles south east of Central London and benefits from a 1 hour direct train journey to London Waterloo. The property occupies a prominent position in the main commercial area in Frimley town centre at the junction of High Street and Hale Way, just 250 metres from Frimley Train Station. Nearby occupiers include Waitrose Supermarket, Boots Opticians, Lloyds Pharmacy, Subway and various independent restaurants and pubs.
Tenure
Freehold.
Location
Miles
29 miles south east of Central London
8 miles north west of Guildford
Roads
M3, A331, A325
Rail
Frimley Train Station
Air
London Heathrow Airport,
London Gatwick Airport
Situation
The affluent Surrey town of Frimley is located approximately 29 miles south east of Central London and benefits from a 1 hour direct train journey to London Waterloo. The property occupies a prominent position in the main commercial area in Frimley town centre at the junction of High Street and Hale Way, just 250 metres from Frimley Train Station. Nearby occupiers include Waitrose Supermarket, Boots Opticians, Lloyds Pharmacy, Subway and various independent restaurants and pubs.
Tenure
Freehold.
Description
The property comprises a substantial unbroken retail parade of 5 ground floor retail units, 4 x three bedroom self contained maisonettes on the first and second floors as well as 4 recently converted flats.
The property also benefits from car parking and a block of five garages to the rear of the property upon which planning consent has been granted under reference number 21/0510/FFU by Surrey Heath Borough Council to redevelop to a form a new apartment block comprising 4 self contained flats configured over ground and first floors. See legal pack for further details.
VAT
VAT is not applicable to this lot.
Planning
Planning consent has been granted by Surrey Heath Borough Council under reference number 21/0510/FFU for the erection of an apartment building to provide 4 self-contained dwellings together with associated parking and landscaping, following the demolition of existing garage buildings. See legal pack for further details.
Completion Period
Six week completion
EPC
See legal pack.
Description
The property comprises a substantial unbroken retail parade of 5 ground floor retail units, 4 x three bedroom self contained maisonettes on the first and second floors as well as 4 recently converted flats.
The property also benefits from car parking and a block of five garages to the rear of the property upon which planning consent has been granted under reference number 21/0510/FFU by Surrey Heath Borough Council to redevelop to a form a new apartment block comprising 4 self contained flats configured over ground and first floors. See legal pack for further details.
VAT
VAT is not applicable to this lot.
Planning
Planning consent has been granted by Surrey Heath Borough Council under reference number 21/0510/FFU for the erection of an apartment building to provide 4 self-contained dwellings together with associated parking and landscaping, following the demolition of existing garage buildings. See legal pack for further details.
Completion Period
Six week completion
EPC
See legal pack.
Tenancy & Accommodation
Unit
Use
Floor
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
38 to 40
Retail
Ground
121.40 sq m
(1,306 sq ft)
CBD KITCHENS LIMITED (1)
5 years from 16/11/2020
£30,000
(15/11/2025)
3 parking spaces
CBD KITCHENS LIMITED (1)
5 years and 3 days from 13/11/2020
£750
(15/11/2025)
42
Retail
Ground
70.90 sq m
(763 sq ft)
VACANT POSSESSION
44
Retail
Ground
67.72 sq m
(729 sq ft)
SJ HOLLOWAY AND SONS LIMITED (2)
5 years from 30/03/2017
£21,000
(29/03/2022)
46
Retail
Ground
63.64 sq m
(685 sq ft)
TWO INDIVIDUALS (3)
10 years from 06/09/2016
£19,000
06/09/2022 (05/08/2026)
48
Retail
Ground
70.72 sq m
(761 sq ft)
INDIVIDUAL with a Personal Guarantee (4)
20 years from 09/03/2016
£19,500
09/03/2026 09/03/2031 (08/03/2036)
42a
3 bedroom maisonette
First and Second
97.00 sq m
(1,044 sq ft)
INDIVIDUAL
Let on an Assured Shorthold Tenancy Agreement for 1 year from 16/12/2020
£10,020
(15/12/2021)
44a
3 bedroom maisonette
First and Second
97.00 sq m
(1,044 sq ft)
VACANT POSSESSION
46a
3 bedroom maisonette plus 2 car parking spaces (6)
First and Second
97.00 sq m
(1,044 sq ft)
INDIVIDUALS
Let on an Assured Shorthold Tenancy Agreement for 1 year from 01/02/2021
£9,600
(31/01/2022)
48a
3 bedroom maisonette
First and Second
97.00 sq m
(1,044 sq ft)
INDIVIDUALS
Let on an Assured Shorthold Tenancy Agreement for 1 year from 10/02/2021
£13,500
(09/02/2022)
1, 1A Hale Way
1 bedroom flat and 1 car parking space (6)
30.00 sq m
(323 sq ft)
INDIVIDUAL
Let on an Assured Shorthold Tenancy Agreement for 1 year and 1 month from 26/06/2021
£8,700
(25/07/2022)
2, 1A Hale Way
3 bedroom flat
79.00 sq m
(850 sq ft)
INDIVIDUALS
Let on an Assured Shorthold Tenancy Agreement for 1 year from 13/10/2020
£12,600
(12/10/2021)
3, 1A Hale Way
1 bedroom flat and 1 car parking space (6)
30.00 sq m
(323 sq ft)
INDIVIDUAL
Let on an Assured Shorthold Tenancy Agreement for 1 year from 31/07/2021
£9,000
(30/07/2022)
4, 1A Hale Way
3 bedroom flat
79.00 sq m
(850 sq ft)
INDIVIDUALS
Let on an Assured Shorthold Tenancy Agreement for 1 year from 31/10/2020
£12,600
(30/10/2021)
5 x Garages
VACANT POSSESSION
Rear of number 48
Motorcycle Store
INDIVIDUAL
15 years 11 months and 28 days from 10/03/2020
£1,000
(08/03/2036)
Total Floor Area
1,000.38 sq m
(10,766 sq ft)(5)
£168,830 with 1 shop and 1 flat to be let (6)
(1) CBD Kitchens Limited is 'the appointed on-line reseller for Caple Kitchen & Bedroom Furniture, Kitchen Appliances & Accessories' (www.cbdkitchens.com). The Seller is holding a rent deposit of £7,500. (2) As to unit 44, the Seller is holding a rent deposit of £5,250. (3) As to unit 46, the Seller is holding a rent deposit of £12,920. The tenants have made an application to assign the lease into the name of one of the tenants. (4) As to unit 48, the Seller is holding a rent deposit of £5,625. The personal guarantee is by another individual. (5) The commercial floor areas stated above are those published by the Valuation Office Agency at www.voa.gov.uk. (6) As to unit 46a, the tenant has a license on 2 car parking spaces at a total rent of £60 pcm. As to unit 1, 1A Hale Way the tenant has a license on 1 car parking space at a total rent of £35 pcm. As to unit 3, 1A Hale Way the tenant has a license on 1 car parking space at a total rent of £35 pcm. The above total rent includes the annualised payments for all the car parking spaces.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
