The property comprises a freehold mixed-use investment arranged as a ground floor retail unit with a newly refurbished two-bedroom flat above. It occupies a prominent corner position in Addlestone town centre, with nearby occupiers including Tesco, Domino’s and Wimpy.
The ground floor is let as a café and children’s play centre on a 20-year lease from May 2024 at £17,500 per annum. The lease provides for five-yearly upward-only rent reviews to the higher of open market rent or RPI, with tenant and landlord break options in years 10 and 15. The lease is contracted outside the Landlord and Tenant Act 1954.
The first floor flat is self-contained, newly refurbished and unused. It will be sold with vacant possession and has an estimated rental value of £19,500 per annum. The flat may appeal to owner occupiers, buy-to-let investors or HMO investors, subject to the necessary consents and licences. There is additional loft space.
Addlestone is a popular and vibrant Surrey town located approximately 20 miles southwest of central London and lies approximately 1 mile from Junction 11 of the M25 motorway. Woking, Chertsey and Weybridge are all within 1 mile of the town and Guildford lies approximately 10 miles to the south. Addlestone train station is only a 2-minute walk and provides a regular and fast service to Waterloo with an approximate journey time of 30 minutes.
Strictly via appointment with the sole agents Curchod & Co.
The freehold interest is available with offers from £575,000. Each party is to bear its own legal and professional costs. The property is not elected for VAT.
To comply with Anti Money Laundering regulations, Curchod & Co undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.
There is planning permission Ref RU.24/1662 to convert the loft space into a 1 bedroom flat which has not been carried out by the sellers.
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