Cobham
2 Church Street, Cobham, Surrey, KT11 3EG
prominent investment for sale
sold
For Sale
- Office, Retail, Investment
- 2,203 Sq Ft
- 1,100,000
Key Features
- Combined Annual Rent of £99,333 pax
- Prominent corner location of Cobham High Street
- Long term potential residential development (STP)
- Asking price £1,100,000 (One million, one hundred thousand pounds) reflects an attractive net initial yield of 8.53% after allowance for purchaser costs
- The property is situated on busy Cobham High Street and there may be long term development potential to alternative roadside retail uses or residential (STP)
Property Description
2 Church Street is a building located on the corner of Church Street and Cobham High Street. The property comprises John D Wood (2 Church Street), One + Health (44 High Street) and Nail Spa Cobham (44A High Street).
The building itself comprises a self-contained retail unit on the ground floor, benefitting from return frontage, high-quality offices on 1st floor, and then a retail unit on the right of the property.
The property benefits from parking spaces at the rear.
The building itself comprises a self-contained retail unit on the ground floor, benefitting from return frontage, high-quality offices on 1st floor, and then a retail unit on the right of the property.
The property benefits from parking spaces at the rear.
Tenant Profiles
2 Church Street (Ground Floor retail) - Let to Countrywide Estate Agents Ltd T/A John D Wood (Part of Connells Group). The current lease expired 23/09/23 at a passing rent of £48,000 pax with the tenants holding over. A new 5-year lease is being put in place at the same rent.
44A High Street (Ground Floor retail) – Let to Ai Thanh Tran T/A Cobham Nail Spa for a term expiring 19/06/2038 at a rent of £28,000 pax. The lease contains break clauses at 5 & 10 years.
44 High Street (First Floor dentists) – Let to One+ Health Ltd for a term expiring 22/05/2028 and has a rent review and break clause on the 22/05/23. The rent rises from £20,000 pax in Y1 to £25,000 pax in years 2 and 3 = average £23,333 over the first 3 years.
Total annual rent roll = £99,333 pax.
44A High Street (Ground Floor retail) – Let to Ai Thanh Tran T/A Cobham Nail Spa for a term expiring 19/06/2038 at a rent of £28,000 pax. The lease contains break clauses at 5 & 10 years.
44 High Street (First Floor dentists) – Let to One+ Health Ltd for a term expiring 22/05/2028 and has a rent review and break clause on the 22/05/23. The rent rises from £20,000 pax in Y1 to £25,000 pax in years 2 and 3 = average £23,333 over the first 3 years.
Total annual rent roll = £99,333 pax.
Proposal
Available for sale freehold at a guide price of offers in the region of £1,300,000 (One million, three hundred thousand pounds) subject to contract.
Accommodation
| Name/Floor | Sq Ft | Sq M | Availability |
|---|---|---|---|
| unit 2 Church Street | 733 | 68.10 | Sold |
| unit 44 High Street | 1,106 | 102.75 | Sold |
| unit 44A High Street | 364 | 33.82 | Sold |
| Total | 2,203 | 204.67 |
Location
2 Church Street is located at the end of Cobham High Street approximately 2 miles from Junction 10 of the M25 motorway. Cobham itself is an attractive town offering numerous retailing and shopping amenities for staff.
Cobham and Stoke D'abernon mainline station is approximately 1 mile distant and provides a frequent direct service to London Waterloo.
Additional Information
| Property Type | Office, Retail, Investment |
| Tenure | For Sale |
| Size | 2,203 Sq Ft |
| Price | Offers in excess of £1,100,000 |
| Energy Performance Rating | Upon enquiry |
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