Brighton Road, Surbiton
An impressive double shop unit with extensive flat roofed extension creating 1888 sq ft (175.4 sq m) of retail space within an attractive.
The existing tenants are a family business and have occupied these premises for over 20 years. A new 10 year lease has now been agreed at a commencing rental of £38,000 per annum for the first 4 year period on FRI terms.
The upper 3 floors, with separate ground floor entrance, formerly used as offices is to be retained by the vendors on a 135 year lease at a peppercorn ground rent.
In separate ownership is an attached, brick built warehouse of 1278 sq ft (118.7 sq m) fronting onto a service road (Electric Parade), up until now also rented by the tenant of 43-45 Brighton Road.
If combined in the future, these two units would form a shop unit of 3,000 sq ft (282 sq m) which maybe very attractive to several multiples including restaurant chains, in this prominent position.
Alternatively, the warehouse combined with a large section of the flat roof area of 43-45 could provide a separate residential or other development, especially if in conjunction with adjoining owners. The freehold interest to the rear warehouse may be available subject to separate negotiation and we are advised that this would generate an annual rental income of circa £13,500.
£625,000 – Six Hundred and Twenty Five Thousand Pounds. Freehold (subject to long lease of upper floors and occupational lease of ground floor)
Please call for further information and to arrange a viewing.
Whilst every effort is made to ensure the accuracy of these details, it should be noted that the measurements are approximate only. Floorplans are for representation purposes only and prepared according to the RICS Code of Measuring Practice by our floorplan provider. Therefore, the layout of doors, windows and rooms are approximate and should be regarded as such by any prospective purchaser. Any internal photographs are intended as a guide only and it should not be assumed that any of the furniture/fittings are included in any sale. Where shown, details of lease, ground rent and service charge are provided by the vendor and their accuracy cannot be guaranteed, as the information may not have been verified and further checks should be made either through your solicitor/conveyance. Where appliances, including central heating, are mentioned, it cannot be assumed that they are in working order, as they have not been tested. Please also note that wiring, plumbing and drains have not been checked.