For Sale Freehold Investment with Residential Conversion ...
For Sale Freehold Investment with Residential Conversion/Development Opportunity (subject to planning)
Current Rental Income: £48,000 per annum
Guide Price: £1,350,000 312-314 High Street, Sutton, Surrey SM1 1PR
Location: The property is situated at the northern sector of Sutton High Street, which is currently undergoing a regeneration with the new mixed scheme at Sovereign Place and the recently completed mixed use development with Sainsbury's superstore, Magnets Showroom, Costa Coffee and other retail/restaurant opportunities. The property is prominently located on the eastern side of the High Street at its junction with Burnell Road, and there is a shared rear service road, providing shared vehicular and pedestrian access to the rear of the property.
Sutton is a densely populated residential area and a thriving retail and commercial centre, situated approximately 12 miles south-west of central London, 5 miles west of Croydon, 10 miles north of Reigate and 7 miles south-east of Kingston. Heathrow and Gatwick Airports are also conveniently based with access via the M25/M4 and M25/M23 respectively. Sutton mainline BR station provides fast regular services to both Victoria (26 minutes) and London Bridge (33 minutes).
Burnell Road Elevation
Looking onto new Linden Development
Description: The premises comprise an end of terrace three-storey building of traditional brick construction beneath a pitched tiled roof, with a single-storey extension to the rear. The ground floor premises are occupied by Auto Express (UK) Ltd and Beautiful Nails. To the side of the property, accessed from Burnell Road, there is an entrance leading to the first and second floor offices, which are currently arranged as a serviced office centre. Accommodation: The premises have the following approximate floor areas: Ground Floor - 312 High Street (Auto Express (UK) Limited) Retail / Trade Counter Area Rear Ancillary Staff Area (Kitchen/WC) Rear MOT Workshop Total Gross Internal Floor Area
51.91 sq m 35.10 sq m 136.62 sq m 223.63 sq m
(559 sq ft) (378 sq ft) (1,470 sq ft) (2,407 sq ft)
Ground Floor – 314 High Street (Beautiful Nails) Retail Area Rear WC/Staff Area Total Gross Internal Floor Area
43.66 sq m 3.22 sq m 46.88 sq m
(470 sq ft) (35 sq ft) (505 sq ft)
First Floor
121.77 sq m
(1,311 sq ft)
Second Floor
122.90 sq m
(1,323 sq ft)
All dimensions and measurements are approximate, however these are based upon the principles laid down in accordance with the RICS Code of Measuring Practice.
Important Note: Centro Commercial have not tested any services, heating system, electrical system, appliances, fixtures and fittings, that may be included in this property and would advise interested parties to satisfy themselves as to their condition or investigating the presence of any deleterious materials. Proposition: The premises are available Freehold for sale, subject to the existing Leases. Tenancies: 312 High Street (Auto Express (UK) Limited) The property is currently let on a Full Repairing and Insuring Lease for a period of 15 years from 21 June 2013, with four yearly rent reviews, which was reviewed in June 2017 to £35,400 per annum exclusive. 314 High Street (Beautiful Nails) The property is let on a Full Repairing and Insuring Lease dated 30 April 2010 for a term of 15 years, with four yearly rent reviews at a current passing rental of £12,600 per annum exclusive. First and Second Floor Serviced Offices There are ten self-contained office suites with separate shared kitchenette facilities and ladies/gents WCs. Planning: The self-contained first and second floor offices, which are currently set up as an established serviced office centre would be, in our opinion, suitable for a conversion to residential under permitted development rights (subject to planning). Any interested parties with a planning related enquiry should contact the London Borough of Sutton. Terms: The property is available Freehold for sale, subject to the existing tenancies. The first and second floors will be offered with vacant possession. VAT: The premises have been elected for VAT. Guide Price: £1,350,000. Legal Costs: Each party is to be responsible for their own costs in this transaction. Viewing: Strictly by appointment through Sole Agents
Centro Commercial Limited 020 8401 1000 See a selection of our properties at www.centro.plc.uk
Current Rental Income: £48,000 per annum
Guide Price: £1,350,000 312-314 High Street, Sutton, Surrey SM1 1PR
Location: The property is situated at the northern sector of Sutton High Street, which is currently undergoing a regeneration with the new mixed scheme at Sovereign Place and the recently completed mixed use development with Sainsbury's superstore, Magnets Showroom, Costa Coffee and other retail/restaurant opportunities. The property is prominently located on the eastern side of the High Street at its junction with Burnell Road, and there is a shared rear service road, providing shared vehicular and pedestrian access to the rear of the property.
Sutton is a densely populated residential area and a thriving retail and commercial centre, situated approximately 12 miles south-west of central London, 5 miles west of Croydon, 10 miles north of Reigate and 7 miles south-east of Kingston. Heathrow and Gatwick Airports are also conveniently based with access via the M25/M4 and M25/M23 respectively. Sutton mainline BR station provides fast regular services to both Victoria (26 minutes) and London Bridge (33 minutes).
Burnell Road Elevation
Looking onto new Linden Development
Description: The premises comprise an end of terrace three-storey building of traditional brick construction beneath a pitched tiled roof, with a single-storey extension to the rear. The ground floor premises are occupied by Auto Express (UK) Ltd and Beautiful Nails. To the side of the property, accessed from Burnell Road, there is an entrance leading to the first and second floor offices, which are currently arranged as a serviced office centre. Accommodation: The premises have the following approximate floor areas: Ground Floor - 312 High Street (Auto Express (UK) Limited) Retail / Trade Counter Area Rear Ancillary Staff Area (Kitchen/WC) Rear MOT Workshop Total Gross Internal Floor Area
51.91 sq m 35.10 sq m 136.62 sq m 223.63 sq m
(559 sq ft) (378 sq ft) (1,470 sq ft) (2,407 sq ft)
Ground Floor – 314 High Street (Beautiful Nails) Retail Area Rear WC/Staff Area Total Gross Internal Floor Area
43.66 sq m 3.22 sq m 46.88 sq m
(470 sq ft) (35 sq ft) (505 sq ft)
First Floor
121.77 sq m
(1,311 sq ft)
Second Floor
122.90 sq m
(1,323 sq ft)
All dimensions and measurements are approximate, however these are based upon the principles laid down in accordance with the RICS Code of Measuring Practice.
Important Note: Centro Commercial have not tested any services, heating system, electrical system, appliances, fixtures and fittings, that may be included in this property and would advise interested parties to satisfy themselves as to their condition or investigating the presence of any deleterious materials. Proposition: The premises are available Freehold for sale, subject to the existing Leases. Tenancies: 312 High Street (Auto Express (UK) Limited) The property is currently let on a Full Repairing and Insuring Lease for a period of 15 years from 21 June 2013, with four yearly rent reviews, which was reviewed in June 2017 to £35,400 per annum exclusive. 314 High Street (Beautiful Nails) The property is let on a Full Repairing and Insuring Lease dated 30 April 2010 for a term of 15 years, with four yearly rent reviews at a current passing rental of £12,600 per annum exclusive. First and Second Floor Serviced Offices There are ten self-contained office suites with separate shared kitchenette facilities and ladies/gents WCs. Planning: The self-contained first and second floor offices, which are currently set up as an established serviced office centre would be, in our opinion, suitable for a conversion to residential under permitted development rights (subject to planning). Any interested parties with a planning related enquiry should contact the London Borough of Sutton. Terms: The property is available Freehold for sale, subject to the existing tenancies. The first and second floors will be offered with vacant possession. VAT: The premises have been elected for VAT. Guide Price: £1,350,000. Legal Costs: Each party is to be responsible for their own costs in this transaction. Viewing: Strictly by appointment through Sole Agents
Centro Commercial Limited 020 8401 1000 See a selection of our properties at www.centro.plc.uk
