42/42a, Cove Road & 26-30 Cove Road, Farnborough, GU14 0EN

The sale comprises 2 parcels of property. 42/42a Cove Road comprises a ground floor front hair salon, and separate rear barbers unit, both leased on standard commercial terms. It includes ground rent income from the residential flat above.

26/30 Cove Road comprises 3 ground floor retail units each held under 999 year ground leases, with 3 flats above, all sold on 125 year ground leases, deriving ground rent income. The ground leases on these flats include a provision to collect a maintenance service charge (not activated to date), in addition to the ground rent income.

In respect of 42/42a Cove Road, the front retail unit produces £13,500 per annum exclusive, with £5,000 per annum from the rear barber unit (held separately).

In respect of the various ground leases, there is overall ground rent income of circa £600 per annum.

Hence, the overall income is just over £20,000 per annum.

In recent years, the management of the ground leases / income has been organised by our clients accountant, full disclosure of which is available.

42 COVE ROAD
Ground Floor - held under lease until 29 April 2027 at £13,500 per annum
Ground Floor Rear - the current lease is currently being renewed at a rent of £5,000 per annum exclusive.
First Floor Residential Flat - held under 125 year lease from 01 January 2007 at £150 per annum ground rent.

26 - 30 COVE ROAD
26 Cove Road - 999 years from 21 July 2009
28 Cove Road - 999 from 25 December 1975
30 Cove Road - 999 from 06 February 2009
Flat 1, 30 Cove Road - 125 years from 01 January 2015 - £150 per annum ground rent
Flat 2, 30 Cove Road - 125 years from 01 January 2015 - £150per annum ground rent
Flat 3, 30 Cove Road - 125 years from 01 January 2015 - £150 per annum ground rent

The freehold interest is For Sale. Offers invited in the region of £250,000. VAT is not payable on the transaction.

Full details upon application.

There are various EPC's, available upon application.

Each party to meet their own legal costs incurred in the transaction.