26 & 28 Station Road, Redhill, Surrey

This excellent investment/development opportunity consists of two adjoining terraced buildings within a town centre location, 100 yards from redhill main line station. The ground floor occupiers are a Butcher/Convenience Store and a Florist, both on long commercial leases, bringing in a combined income of £49,000. The upper parts consist of a number of small offices with planning granted on 6th August 2014 under reference 14/00763/CU for the change of use from office to residential, rear five storey extension, providing residentail accomodation as amended by letter dated 19/05/14. This will allow for 14 flats in total (11 x one bedroom & 3 x two bedroom). The upper parts are offered with vacant possession, whilst ground floors are offered with the benefit of the ongoing income. There may be scope to increase the planning and any intedning purchaser should make their own enquiry into this regard. Redhill is a buoyant town with an array of restaurants, shops such as The Belfry Shopping Centre, there is a cinema and theatre and good road links such as the M23 and M25 provide excellent acess to London and Gatwick Airport. The plans are available for inspection at the offices of the auctioneers.

ACCOMMODATION & LEASE DETAILS

26 Station Road approx 1095 sf, let on a commercial lease for 10 years from 22/12/12 at £21,000 pa. A rent review is scheduled for 22/12/18

28 Station Road approximately 1039 sf, let on a commercial lease for 20 years from 29/09/97 for £28,000 pa with five yearly rent reviews.

A schedlue of the proposed new build is as follows:-

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TENURE

Freehold

LOCAL AUTHORITY & TAX RATING

Reigate & Banstead Borough Council 01737 276000
26 Station Road Rateable Value £25,000
28 Station Road Rateable Value £25,250

VIEWING TIMES

By appointment through the auctioneers.