Alton GU34
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- SECTOR
Mixed use property for sale
Key features
- Mixed-use freehold building comprising 3 x retail units, offices and rear car park extending to 7,454sq.ft. and situated on a site of 0.15 acres
- Part let producing £128,000 per annum offering potential for future rental growth and further redevelopment of the vacant areas and car park
- Prior approval for the conversion of part of the rear floor behind Subway to create 2 x 1 bed flats
- Offers invited in excess of £1,500,000 which reflects £201 per sq.ft. on the existing areas and 8.1% NIY
Description
The existing properties comprise 3 x adjoining mixed use freehold buildings known as 15a, 17 and 19 High Street with rear car park with space for up to 18 cars.
15a comprises a ground floor retail unit fronting the High Street let to Subway with a rear self-contained office which benefits from prior approval to convert to residential. The first and second floors comprise offices which are currently let to Bubbles Online Ltd.
17 consists of a retail unit on the ground floor let to Dominos with the first floor office space also let to Bubbles Online Ltd.
19 comprises a ground floor retail unit let to Oxfam and first floor office space which is currently vacant.
Location:
The property is located on the south side of High Street, in a prominent position with nearby occupiers including Co-Operative Food and Savers.
The nearest train station is Alton which is 0.8 miles from the property providing services into London Waterloo in 68 minutes.
Planning & Development:
The properties are located within the Alton (town centre) conservation area and 19 High Street is Grade II listed. Prior approval (reference: 24449/017) was granted on 21st July 2023 for the change of use of the office to the rear of the Subway unit to create 2 x 1-bedroom flats
extending to approximately 824ftsq.ft..
The remainder of the property including the first floors at 19 High Street and the rear car park offer potential for further redevelopment by way of conversions or extensions subject to the necessary consents.
The property is part let as per the tenancy schedule at a passing rent of £128,000 per annum. Oxfam are currently holding over at 19 High Street, paying £30,000 per annum. An agreement to renew their lease has been agreed for a 5 year term at the same rent, but has not yet been signed.
Tenure:
The property is being sold Freehold with tenants to remain in situ.
VAT:
We understand the property has been elected for VAT and therefore VAT will be chargeable on the purchase price. We understand that the transaction will be treated as a transfer of a going concern (TOGC) been elected for VAT.
Terms:
Offers invited in excess of £1,500,000 which reflects £201 per ft2
on the existing areas and 8.1% NIY
Brochures
Alton GU34
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Alton Station0.3 miles
- Bentley Station5.1 miles
About Kingsbury, London
32-34 Baker Street Weybridge Surrey KT13 8AU
Notes
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