WESTWOOD AND COMPANY
FREEHOLD INVESTMENT FOR SALE
PRODUCING £86,500 RISING TO £87,500pax
FIVE TWO STOREY SHOP/ OFFICE/ TAKEAWAY PREMISES
8 FLATS OVER SOLD ON A LONG LEASES, MANAGEMENT IN HOUSE.
138 to 146 High Street, Godalming is mainly a 1960’s built parade of shops with later additions and a full make over on the upper floors in the early part of this Century. The most recent addition is the Takeaway at No 138 which was built 3 years ago. Now all fully let with a nail bar, Insurance Brokers, Thai Spa, Tattoo and Body Aesthetics business, plus the takeaway. The buildings, both new and old are concrete and steel framed with parking at the rear and lower ground floors.
Address: 138-146 High Street
Postcode: GU7 1AB
Tenure: For sale
Approx. 140-146: 885sq ft 82.3sqm
Approx. 138: 430 sq ft
Located in an extremely busy area both in respect of traffic at the lights onto Flambard Way, but also with footfall from the station nearby and the Godalming College students. The property is just within the Conservation Area, but nonetheless could be suitable for an upwards extension. (Subject to the necessary planning consent). Godalming main line station is within 500 yards, The A3 trunk road is 2 miles and Guildford 4 miles north. Godalming is a thriving Town with a leisure centre, main Waverley Borough Council Offices, Waitrose, Sainsbury’s, Homebase, Pets at Home, WHSmith’s, Boots, Wetherspoons, Cote, Prezzo’s, Pizza Express, Lloyds, Nat West etc.
Shops/ Premises 140 to 146 High Street are approx. 885 sqft each (82.3sqm) each shop has one car space.
No 138 High Street 430sqft plus under eaves storage plus one car space.
There are 5 one bed flats and 3 two bed flats on the upper floors sold on a long leases from 2008 Management is in house via the freeholders. Tenants funds around £10,000.
1) 138 High Street: 20 years FRI lease from 1st January 2020, commencing rental £18,000pax + vat rising to £19,000pax + vat in 2022 and £20,000pax+vat from 2023. (Let as shell). 5 yearly upward only rent review and tenant break, inside the 1954 Landlord and Tenant Act.
2) 140 High Street: 5 year FRI lease from May 2019 rent passing £15,000pax + vat + service charge (£70 per quarter). Tenant only break after 1st July 2022.
3) 142 High Street: 5 year FRI lease from May 2020 rent passing £18,000pax + vat + service charge (£70 per quarter) from 2nd November 2020.
4) 144 High Street: 10 year lease from April 2018 at £16,500pax + vat + service charge (£70 per quarter) 5 year rent review and tenant only break.
5) 146 High Street: 12 year FRI lease from September 2016. Rent passing £18,000 pax + vat + service charge (£70 per quarter) rent review due September 2023.
The Flats: Sold on 125 year leases from 2008, ground rents £2 per flat. Tenant funds stands at £10,000.
Current income £86,500pax + vat rising to £87,500 pax by 2023.
Copy leases available upon request.
Offers in excess of £1,200.000 STC to be sold as a going concern.
A member of Westwood and Company has an interest in this property
WESTWOOD AND COMPANY