Greensleaves, Hatchlands Road, Redhill, Surrey

DESCRIPTION
The FREEHOLD INVESTMENT UNDER TITLE NO SY728272 comprises one retail unit, three
residential flats let on Assured Periodic tenancies, having started as ASTs and a Long Leasehold of one flat which is included within the demise.
This investment portfolio has been let by the current owners for nearly two decades and offers a great opportunity to a new Landlord. The shop operates as a florist by the freeholder who wishes to divest of the investment but to continue just trading with her floristry business that has been established for decades. Each unit has benefitted from continuous tenancy.

SHOP UNIT
7 Hatchlands Road – This E Class unit with traditional timber shopfront has traded as Greensleeves Florists for decades by the current owner . It comprises of the retail area of 489 sq ft, rear office 82 sq ft, store 15 sq ft and spacious ground floor basement 233 sq ft which contains the kitchenette and WC. – The building will be sold with the vendor taking a leaseback on the shop and basement on a five year FRI Lease at a passing rent of £14,500.
EPC – C(68)

RENTAL INCOME
The residential flats provide rent of £41,400 pa on an APT basis and the commercial element £14,500 pax with total passing rent of £55,900 pa gross. The Landlords have not maximised the rental income due to preferring stability of settled Tenants.

GUIDE PRICE
Offers in excess of £700,000 for the freehold interest subject to the existing Assured Shorthold Tenancy leases.

SERVICES
We understand that all parts have the benefit of gas, electric and water supply and each Tenant is responsible for said costs.

VAT
We understand that the premises are elected for VAT.

BUSINESS RATES AND COUNCIL TAX
Valuation Office Agency lists the retail unit as having a rateable value of £8,700 (1 April 2023 to present) the rateable value from 1 April 2026 will be £9,700. The residential flats have a Council Tax Band of B.

LEGAL COSTS
Each party to be responsible for their own legal costs in the transaction.

VIEWING
Strictly by prior appointment only through sole agents: ROBINSONS