Under Offer
Leatherhead – Restaurant and Maisonette
17/19 Church Road, Leatherhead, Great Bookham, Surrey KT23 3PGFreehold Restaurant and Residential Investment
Price
£400,000
Rent P.A.
£23,700
Yield
5.93%
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
3y 2m
Area
1,498 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises restaurant and self-contained 2 bed maisonette
- Restaurant let until 2027. Tenant break option 25.06.2022
- Situated within an established local parade. Affluent Surrey village
- Maisonette let on an AST
- Occupiers close by include Co-op Food, Boots Pharmacy, DEBRA and a number of independent traders
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property is arranged as a Ground Floor A3 commercial unit trading as a restaurant and a self-contained 2-bedroom maisonette on the first and second floors. The residential flat has 3 rooms, kitchen and bathroom.
Tenancy Description
The shop is at present let to V. Nowkandi and trades as a restaurant for a term of 15 years from 26th June 2012 at a current rent of £12,000 per annum and the lease contains full repairing and insuring covenants. The lease provides for rent reviews every fifth year, and the next review is in 2022. The first/second floor maisonette is at present let on an AST to an individual for a term of 12 months from 31st October 2020 at a current rent of £11,700 per annum. Deposit held of £1,125.
Tenancies & Accommodation
Location Description
The property is situated within an established local parade on the west side of Church Road in the heart of the village. The affluent village of Great Bookham is located 2.25 miles south-west of Leatherhead and 9.5 miles north-east of Guildford. The M25 (J9) is 3 miles to the north east and accessed via the A246 (Leatherhead Road). Bookham Rail Station provides frequent services to London Waterloo (52 mins) and Guildford (21 mins).