Description Ideal opportunity for an investor/developer/owner occupier to purchase the whole premises which is currently held in two parts with freehold ground floor restaurant premises which is subject to an existing lease which will terminate to enable a vacant possession sale and long 999 year leasehold interest of the residential upper parts. The uppers are particularly spacious and have an estimated rental value on an Assured Shorthold Tenancy of £1500pcm and are offered with vacant possession.
Accommodation Proposed schedule of accommodation gf Office Space = 55 Sq m Flat 1 = 3 bed 97 Sqm Flat 2 = 2 bed 63 Sq m Flat 3 = 1 bed 50 Sq m Flat 4 = 3 bed 101 Sq m
terms Offers in the region of £825,000 + Fees Subject to Contract for the whole as a split sale between Title number SY454972 and Title number SY832396
outgoings From Internet enquiries only, the business rates are as follows:- 2017 Rateable Value £13,250 Uniform Business Rate 0.49p (April 2020 – March 2021) Council tax for residential uppers Band A Interested parties should verify this information and any transitional adjustments prior to entering into any contract.
Planning The building benefits from planning consent granted by Reigate and Banstead Borough Council Planning Ref: 20/00802/F providing for change of use of the ground floor from A3 to B1(a) offices and a 3 bed flat and extension part one and part two storey forming the three flats described. Full details and plans can be obtained via . We are still awaiting confirmation of the cil levy but this is anticipated to reflect net increase of 114.8 sq m chargeable in Zone 2 at £140 sq m = £16,072 (estimated). We are also minded that a buyer may well return to seek an enhanced planning consent to reconfigure the ground floor residential element from the consented three bedroom flat into 1 x one bedroom flat and 1x two bedroom flat.
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Reserve Price: The “Reserve Price” is the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. This is normally set within the guide price range or within 10% of a single guide price. The reserve price is not disclosed and is subject to change up to and including the day of the auction.