Freehold Retail & Office/Commercial Investment with Development Potential & Car Parking (1)
Two Large Shops with Separately Accessed Pilates Studio & Offices Above
Approximately 1,064.30 sq m (11,456 sq ft) plus Large Site to the Rear with Parking
Development & Change of Use Opportunity on Upper Parts & Rear Site
Potential Residential Conversion/Development of the Upper Floors - Previous Lawful Certificate from Elmbridge Council for Change of Use of Rear 1st Floor for Two Flats (1)
Freehold Retail & Office/Commercial Investment with Development Potential & Car Parking (1)
Two Large Shops with Separately Accessed Pilates Studio & Offices Above
Approximately 1,064.30 sq m (11,456 sq ft) plus Large Site to the Rear with Parking
Development & Change of Use Opportunity on Upper Parts & Rear Site
Potential Residential Conversion/Development of the Upper Floors - Previous Lawful Certificate from Elmbridge Council for Change of Use of Rear 1st Floor for Two Flats (1)
Affluent & Popular Surrey Town
VAT-Free Investment
Lot 12
Auction 13th December 2021
Rent £183,300 per Annum Exclusive
Status Sold Prior
Price
Sector High Street Retail, Residential, Development
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 miles south west of Walton on Thames
16 miles north-east of Guildford
20 miles south-west of Central London
Roads
A3, M3, M25
Rail
Weybridge Railway Station
(to London Waterloo in 35 minutes)
Air
London Heathrow and London Gatwick
Situation
Weybridge is an affluent Surrey commuter town located some 20 miles south-west of Central London and 16 miles north east of Guildford. Weybridge Railway Station provides direct links to London Waterloo (35 minutes). The property is located in a prime trading position on the north side of Church Street, close to its junction with Baker Street. Nearby retailers including Starbucks, WH Smith, Caffe Nero, Robert Dyas, Betfred, Natwest & Lloyds banks and a variety of specialist retailers. One of the town's main car parks in located close by on Churchfield Road.
Tenure
Freehold.
Location
Miles
2 miles south west of Walton on Thames
16 miles north-east of Guildford
20 miles south-west of Central London
Roads
A3, M3, M25
Rail
Weybridge Railway Station
(to London Waterloo in 35 minutes)
Air
London Heathrow and London Gatwick
Situation
Weybridge is an affluent Surrey commuter town located some 20 miles south-west of Central London and 16 miles north east of Guildford. Weybridge Railway Station provides direct links to London Waterloo (35 minutes). The property is located in a prime trading position on the north side of Church Street, close to its junction with Baker Street. Nearby retailers including Starbucks, WH Smith, Caffe Nero, Robert Dyas, Betfred, Natwest & Lloyds banks and a variety of specialist retailers. One of the town's main car parks in located close by on Churchfield Road.
Tenure
Freehold.
Description
Two large shops arranged on the ground floor with a separately accessed Pilates Studio on the part first floor (front) and three office suites on the second floor, used by the Pilates Studio and a Physiotherapist. The property benefits from additional rear first floor ancillary accommodation, which is not currently used or let, where there was previous consent for two flats (see footnote (1) ''Planning''). Access to this accommodation is via a rear staircase. To the rear, the property also benefits from a large loading area, together with 15 car parking spaces. Access to the rear loading area is via Holstein Avenue.
VAT
VAT is not applicable to this lot.
Planning
(1) Application No: 2016/2662 - Lawful Development Certificate granted by Elmbridge Borough Council in October 2016 for change of use of first floor to create 2 flats with retail use to remain on the ground floor. The property may benefit from further future redevelopment for a variety of uses, subject to necessary consents. Interested Parties are referred to Elmbridge Borough Council - www.elmbridge.gov.uk.
Completion Period
6 Week Completion Available
EPC
See Legal Pack at www.acuitus.co.uk
Description
Two large shops arranged on the ground floor with a separately accessed Pilates Studio on the part first floor (front) and three office suites on the second floor, used by the Pilates Studio and a Physiotherapist. The property benefits from additional rear first floor ancillary accommodation, which is not currently used or let, where there was previous consent for two flats (see footnote (1) ''Planning''). Access to this accommodation is via a rear staircase. To the rear, the property also benefits from a large loading area, together with 15 car parking spaces. Access to the rear loading area is via Holstein Avenue.
VAT
VAT is not applicable to this lot.
Planning
(1) Application No: 2016/2662 - Lawful Development Certificate granted by Elmbridge Borough Council in October 2016 for change of use of first floor to create 2 flats with retail use to remain on the ground floor. The property may benefit from further future redevelopment for a variety of uses, subject to necessary consents. Interested Parties are referred to Elmbridge Borough Council - www.elmbridge.gov.uk.
Completion Period
6 Week Completion Available
EPC
See Legal Pack at www.acuitus.co.uk
Tenancy & Accommodation
Address
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
10a
Ground
Retail
386.18 sq m
(4,157 sq ft)
NEPTUNE WEYBRIDGE LIMITED t/a Neptune (2)
20 years from 18/05/2015 (3)
£85,000
18/05/2025 & 18/05/2030
10b
Ground
Retail
148.82 sq m
(1,602 sq ft)
AND SO TO BED LIMITED (4) t/a And So To Bed London
10 years from 4/11/2016 (5)
£52,500
04/11/2021
First (Front)
Office/ Pilates Studio
197.88 sq m
(2,130 sq ft)
PILATES WORKS STUDIO LIMITED t/a Pilates Works Studio
10 years from 4/09/2018 (6)
£25,000
03/09/2023
First (Rear)
Ancillary
167.22 sq m
(1,800 sq ft)
VACANT (See footnote (1)-Planning)
-
-
-
Suite 1
Second
Office/ Pilates Studio
55.92 sq m
(602 sq ft)
PILATES WORKS STUDIO LIMITED t/a Pilates Works Studio
(2) Interior design specialists with 30 shops, including Bath, Cambridge, Knutsford & Paris (Source: www.neptune.com) (3) The lease is subject to a tenant option to determine on 17th May 2025. (4) Founded more than 40 years ago, with 20 stores including Chelsea (Kings Road), Richmond-upon-Thames, Cheltenham, Oxford, Harrogate & Tunbridge Wells. (Source: www.andsotobed.co.uk) (5) Tenant option to determine lease on 3rd November 2021 NOT activated. (6) The lease is subject to a tenant option to determine on 3rd September 2023.
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.
