About this property
A rare opportunity to acquire a fully let, mixed use investment opportunity in an excellent town centre location.
The premises are located in the centre of Reigate's busy High Street and offer good road and rail connections. Junction 8 of the M25 is located approximately 2 miles to the north and Reigate Train Station is located circa half a mile to the north, providing regular train services to East Croydon and London Stations.
Reigate is a prosperous, affluent, market town with a large number of restaurants, bars and shops including a good mix of national and independent retailers. Restaurants include Wagamama, Bills and Giggling Squid, whilst retailers include Oliver Bonas, Joules and Jo Malone.
Description & Accommodation
The property comprises a four-storey building in the centre of Reigate.
The ground floor retail unit comprises a largely open plan retail space, which was fully refurbished less than two years ago and currently trades as an art gallery. The ground floor benefits from a large basement show room area, which is accessed via a staircase to the rear of the property.
The ground, first and second floor offices are accessed from the rear of the property, via Castle Walk. And befit from a large landscaped outside area, which provides access to a communal hallway connecting each of the floors. The offices have shared male and female toilet facilities.
The three offices and their communal areas were refurnished in 2016 and each has its own kitchenette.
The property offers a total income of £57,950 per annum and the Tenancy Schedule is available upon request.
The premises have the following gross internal floor areas:
Ground floor 568 sq.ft 52.80 sq.m
Basement 498 sq.ft 46.30 sq.m
First floor 384 sq.ft 35.66 sq.m
Second Floor 353 sq.ft 32.76 sq.m
Third Floor 385 sq.ft 35.76 sq.m
Total: 2,188 sq.ft 203 sq.m
The freehold interest is available to purchase for £950,000. Subject to existing leases, please see the tenancy schedule for details. Subject to Contract.
VAT - We understand VAT is not applicable to the purchase.
Costs - Each party is to pay their own fees in relation to the purchase.
EPC - D(86)
The Valuation Office Agency describes the ground floor premises as ''Shop and Premises' with a 2017 rateable value of £19,000 the current UBR is 49.9 pence in the £.
The Valuation Office Agency describes the first, second and third floor premises as ''Offices and Premises' with 2017 rateable values of £6,000, £5,600 and £3,950 respectively. The current UBR is 49.9 pence in the £.
Strictly by appointment with White and Sons.
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