117 High Street, Godalming, Surrey, GU7 1AQ

Key Points

Retail Investment For Sale

• Well Located Freehold Investment
• Generating £18,500 p.a. Rental Income
• Unexpired Lease Length of 2 years
• Good Prospects for Rental Growth

Location

This property is located in a prime location on Godalming High Street close to the Pepperpot and the old post office building. Godalming is a wealthy and lively Surrey town with railway links into London Waterloo and Portsmouth & Southsea. The town is also well connected by road with close access to the A3 London to Portsmouth trunk road at both Hurtmore and Milford.

Description

117 High Street is an attractive two-storey, double fronted terraced building. The ground floor comprises two areas of retail space arranged either side of the entrance foyer. The whole of the ground floor shop is leased as a single unit to McAlister Thomas as an art gallery. The ground floor can also be easily split into two separate smaller shops if necessary. Internally there is wooden flooring, spot lighting and dark timber features set amongst the white, plastered walls.
The frontage has attractive curved, timber-framed display windows and decorative lintels. The property is a brick construction with a pitched tiled roof and parapet wall on the front elevation, and a flat roof to the rear. There is no rear access to the property, nor any parking associated with the building.

Accommodation

The ground floor net internal area is approx:

Tenure

The freehold interest of the property is available and held under title SY350268.

Price

£325,000.

Tenure

The freehold interest is available subject to a 5 year lease of the ground floor shop, dated 1st December 2014 , granted to G Thomas and S Dodds. There is a tenant only option to break (no enacted) and an open market rent review after 3 years, which is currently in negotiations.

The freehold is also subject to a new 125 year lease of the first floor flat dated at a nominal ground rent. Further lease details available on request.

Rates

Rateable Value: £16,000
Rates payable: £7,456 (2017/18)
Business Rates are the Responsibility of the Tenants

Legal Costs

Each party to bear their own legal costs incurred in the transaction.

EPC

Rating: D-97