The property is situated on Church Street in the popular and busy town of Staines Upon Thames. The main pedestrian area is a short walk as is the Two Rivers Shopping Centre. Access to the M25 is a short drive. Heathrow airport is a 10 minute drive.
Comprising ground and first floors of this period property currently let to two tenants.
Ground floor – The property is currently being operated as two separate businesses (fish and chip and burger takeaways) and a wall could be constructed to create two self-contained units at a later date. The ground floor demise wraps around the adjoining property to the rear and could be sold of for a sum to be agreed.
First Floor – Comprising self contained offices with their own independent access. There is no parking.
Adjoining properties have secured planning permission and constructed first floor rear extensions and STTP we see no reason why the same will not apply therefore providing the possibility for additional income.
Ground floor 897 sq ft ( 83.32 sq m)
First Floor 452 sq ft ( 41.99 sq m)
Total 1,349 sq ft (125.31sq m)
The freehold is to be sold subject to the current leases and rent. Offers in the region of £650,000 ( vat is not to be levied on the sale).
Ground floor – Currently held on an effective full repairing and insuring lease for a term of 15 years from 19th February 2014 ( expiring 18th February 2029) with upward only rent reviews every 5 years. Current passing rent £25,000 pax.
First Floor – Currently held on an effective full repairing and insuring lease for a term of 5 years from 14th June 2016 ( expiring 13th June 2021). The Landlord is in the early stages of negotiating a new lease with the existing tenant which they intend to complete before the current one expires. The proposed term will commence on or around 14th June 2021 for a term expiring on 31st December 2025 at a rent of £10,000 pax.
Total rent receivable – £35,000 pax.
We are verbally advised by Spelthorne Council that the current rateable values are
Ground floor -£13,781.00 pa.
First Floor – £5,200.00 pa.
Please make your own enquiries at the Council.
Each party to bear its own legal fees in this transaction.
The property is not subject to VAT.
Strictly by prior appointment via the sole Agents Deriaz Campsie Mark Potter 01628 495510