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Lot 5 - 147 Brighton Road, Redhill, Surrey, RH1 6PS

Guide Price* £695,000

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Property Type
Mixed Use
Tenure
Freehold
Type
Commercial
Bidder Security Deposit
£3,500*

Property Summary

  • Freehold retail/residential investment
  • Retail let to Redstone Supplies Ltd t/a Redhill Plumbing Centre
  • New 10 year lease from completion (1)
  • Two self-contained one bedroom flats each let on periodic tenancies
  • Floor-mounted, income producing telecoms mast
  • Producing £74,300 per annum

Freehold mixed use investment producing £74,300 per annum from completion

Description

The Property sits on a prominent corner site with a total site area of 0.13 acres (0.05 ha) as measured using LandInsight/Ordnance Survey.

The property comprises a prominent detached two storey mixed use building with rendered elevations beneath a pitched slate roof arranged as a ground floor retail unit with basement storage and two self-contained one-bedroom flats over the first floor that benefit from separate access from the front of the building facing Brighton Road. There is an external yard used by the retail occupier. There is parking for up to 5 vehicles with access from Garlands Road.

Location

The affluent town of Redhill is located to the east of Reigate at the junction of the north-south A23 (London to Brighton) road and the east-west A25 (Guildford to Sevenoaks) road. Road communications are excellent with the M25 motorway (Junction 7) being close by, where it connects with the M23 motorway (Junction 8). Gatwick Airport is approximately 7 miles to the south. Redhill mainline station provides regular services to London Victoria with approximate journey times of 40 minutes.

The property is situated in a mixed use area on the west side of Brighton Road at the junction with Hooley Lane.

Tenancy Schedule

Address Floor Use Sq M Sq Ft Tenant Tenancy Rent (£ pa)
147 Brighton Road Ground


Basement
Retail
Office
Storage
Storage
54.42
16.27
66.74
116.47
586
175
718
1,253
Redstone Supplies Ltd t/a Redhill Plumbing Centre (1) 10 years from completion £40,000
Flat 1 First Residential One bedroom flat Individual Periodic tenancy £9,600
Flat 2 First Residential One bedroom flat Individuals Periodic tenancy £14,700
External Yard Telecoms - - Cornerstone Communications Infrastructure Ltd (2) 10 years from 2016 £10,000
Total £74,300
The floor areas have been taken from the VOA website Find a property - Valuation Office Agency - GOV.UK

Note

1. Redhill Plumbing Centre, established in 1993, supplies a wide range of contemporary bathrooms, kitchens, and tiles to both retail and trade customers. Further information is available at www.redhillplumbing.co.uk. The lease includes a tenant-only break option at the end of year five, subject to six months’ prior written notice.
2. The lease provides both landlord and tenant break options. Full details of the respective mechanisms are set out in Clauses 29 and 30.

EPC Rating

Awaiting

VAT

Please refer to the legal documentation

Disclaimer*

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide Price.

The Guide Price for the Lot does not include the Buyers Administration Fee of £2,000 (inclusive of VAT). In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

To participate in the sale, SW Property Auctions must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £5,500 comprises £3,500 relating to your bidder security (partial deposit payment) and the buyers administration fee of £2,000 (inc. VAT).

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Documents

Additional Information

Property Map

Office Contact

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Oliver Childs
07732 681 150
Sanderson Weatherall LLP,
4th Floor,
87-88 Bartholomew Close,
London,
EC1A 7BL

Joint Agent

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Abcore Real Estate
Max Streek
020 3002 1234

Vendors Solicitor

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Kingsfords Solicitors Ltd
Kellie Darke
01580 715060

Auction Finance Available

Together Finance