Freehold Retail Investment with Prior Approval for 3 Residential Units
Entirely Let to Optiplan Kitchens Limited until 2026 (NO BREAKS)
May 2021 Tenant Break Option Not Exercised.
Includes rear Car Parking,
Affluent Surrey Location
Prior Approval for Residential Conversion to 3 Residential Units
Occupational Lease Outside the Security of Tenure Provisions of the Landlord and Tenant Act 1954
Lot 42
Auction 13th December 2021
Rent £40,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
34 miles south west of Central London
9 miles west of Guildford
Roads
A31, A3, M3
Rail
Farnham Train Station, Aldershot Train Station
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is located in the affluent and historic market town of Farnham, approximately 34 miles south west of Central London. Farnham is popular with commuters as well as a shopping destination with good transport links to London and the south east. The property is situated on the eastern side of Farnborough Road (A325), at the junction with Wellington Lane; a predominantly residential location.
Tenure
Freehold.
Location
Miles
34 miles south west of Central London
9 miles west of Guildford
Roads
A31, A3, M3
Rail
Farnham Train Station, Aldershot Train Station
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is located in the affluent and historic market town of Farnham, approximately 34 miles south west of Central London. Farnham is popular with commuters as well as a shopping destination with good transport links to London and the south east. The property is situated on the eastern side of Farnborough Road (A325), at the junction with Wellington Lane; a predominantly residential location.
Tenure
Freehold.
Description
The property is a two-storey detached former Public House building comprising a modern retail kitchen showroom on the ground floor and office and showroom accommodation on the first floor. The property benefits from a building to the rear used as extensive storage and from car parking at the rear.
The property also benefits from Prior Approval for the change of use of the ground floor rear and first floor from retail (use class a1) to 3 dwelling houses (use class c3).
VAT
VAT is not applicable to this lot.
Planning
Prior Approval for change of use of the ground floor rear and first floor from retail (use class a1) to 3 dwelling houses (use class c3) and for building operations reasonably necessary for the conversion conversion has been granted by Waverly Borough Council on 5th November 2021 under planning reference PRA/2021/01570.
The property may be suitable for residential conversion into the large roof viod, subject to obtaining the necessary consents.
Completion Period
Six week completion
EPC
See legal Pack
Description
The property is a two-storey detached former Public House building comprising a modern retail kitchen showroom on the ground floor and office and showroom accommodation on the first floor. The property benefits from a building to the rear used as extensive storage and from car parking at the rear.
The property also benefits from Prior Approval for the change of use of the ground floor rear and first floor from retail (use class a1) to 3 dwelling houses (use class c3).
VAT
VAT is not applicable to this lot.
Planning
Prior Approval for change of use of the ground floor rear and first floor from retail (use class a1) to 3 dwelling houses (use class c3) and for building operations reasonably necessary for the conversion conversion has been granted by Waverly Borough Council on 5th November 2021 under planning reference PRA/2021/01570.
The property may be suitable for residential conversion into the large roof viod, subject to obtaining the necessary consents.
Completion Period
Six week completion
EPC
See legal Pack
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground First Ground
Retail Retail/Office Storage
79.15 sq m 63.73 sq m 61.40 sq m
(852 sq ft) (686 sq ft) (661 sq ft)
OPTIPLAN KITCHENS LIMITED (1)
10 years from 16/05/2016 (2)
£40,000
15/05/2021 (15/05/2026)
Total Approximate Floor Area
204.28 sq m
(2,199 sq ft) (3)
£40,000
(1) Optiplan Kitchens Limited(CRN05303766) were incorporated in 2006 and operate from 13 showrooms nationwide. (www.optiplankitchens.co.uk) Optiplan Kitchens Limited are wholly owned by Home Decor GB Limited. For the year ending 31/12/2019 Home Decor GB limited reported a turnover of £26,144,724, pre-tax profits of £1,419,161 and shareholders funds of £11,016,498 (Source: NorthRow 24/08/2021). The tenant has not exercised the May 2021 option to determine the lease. (2) The lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954. (3) The floor areas stated above are Gross Internal Areas.
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.
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