Property description
This opportunity comprises of a ground floor retail premises that is let on a 10 year lease from 2nd February 2013 at a passing rent of £17,000 per annum. The property is situated in a prominent position on the north side of old Woking High Street and benefits from good transport links from the nearby A3, an arterial route providing access to London (northbound) and Guildford (southbound). Woking train station is also approximately 2.5 miles from the subject property offering regular services into London Waterloo. The unit is arranged over ground floor and extends to some 34.8 meters in shop depth. Internally, it is arranged to have a recently refurbished open plan sales area to the front of the property, with separate offices and WC. The retail unit extends into a large single storey workshop accommodation to the rear of the property which is currently utilised for storage ancillary to the retail operation. The property benefits from a large forecourt to the front of the property, with space for a number of parked cars and rear access from a service road running behind the property. The lease currently has approximately 7 ½ years unexpired on the current term and there are upcoming rent reviews in 04/02/2016 and 04/02/2019. Due to the substantial size of the built accommodation, it may be suitable for long term development potential or alternative uses subject to planning permission on lease expiry. The freehold is available with the benefit of the ground floor commercial lease and a ground rent from the first floor residential flat.
Property Features :
- FREEHOLD RETAIL INVESTMENT
- 1,722 SQ FT (159.9 SQ M) APPROX
- £17,000 PER ANNUM RENTAL INCOME
- LONG UNEXPIRED LEASE TERM (CIRCA 8 YEARS )
- FORECOURT AND REAR ACCESS