24,010 sq ft Investment Property, Development (Land & Buildings), For Sale
|Property Type||Investment Property, Development (Land & Buildings)|
|Size||24,010 sq ft|
The site is located at the Ace of Spades roundabout adjacent to the A3 in an extremely prominent position. The roundabout is elevated above the A3 and provides access directly onto the northbound carriageway and A309 southbound. Access is also provided to Chessington via the A243, and Surbiton/Kingston to the north.
A data room has been created containing various accompanying documents. Access to the data room can be requested via the agents.
The premises comprise a petrol filling station (let on a long term lease) and an adjacent two-storey building housing two large retail units and ancillary uses at first floor level. The site extends to 0.9 acres and provides excellent on-site parking facilities for approx. 30 vehicles.
|UNIT||TENANT||AREA||LEASE START||LEASE EXPIRY||RENT REVIEW||CURRENT RENT P.A.|
|Shell Garage||Shell UK Ltd.||20/04/03||22/04/62||Peppercorn|
|Unit B||DBIO limited (under offer)||3,390||TBC||24/3/23||N/A||£35,000|
|Unit C||Stallards Gym Ltd||2,200||26/06/16||25/06/25||26/02/20||£18,000|
|Unit D||Topps Tiles (Multi Tile Ltd.)||12,800||06/06/13||05/05/23||06/06/18||£90,000|
The property is elected for VAT, and it is anticipated that the sale will be treated as a transfer of going concern. (TOGC)
Offers in excess of £3 million for this excellent medium term redevelopment opportunity. A purchase at this figure represents a net initial yield of 6.51%, assuming purchaser’s costs of 6.45%.