27 Station Rd 1,135 SF Retail Building Redhill RH1 1QH £400,000 (£352.42/SF) 8.05% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Rarely available prime freehold investment opportunity
- Affluent Surrey Commuter Market town
- Two residential flats sold off on 125 year leases from April 2015 at an annual ground rent of £250 per flat
- Ground floor retail lease renewed on a straight 5 year term from July 2024
- Prime pedestrianised retail pitch
- Total annual income of £33,500
EXECUTIVE SUMMARY
The property comprises a mid-terrace part three storey, part two storey and part single storey mixed use building of traditional brick construction. The property sits beneath a pitched and tiled roof and has painted rendered elevations and timber sash windows. The first and second floors of the front three storey section of the building are configured as 2 no. residential flats.
The ground floor retail unit, currently let to Sequence (UK) Limited (t/a Barnard Marcus), is mainly open plan with two partitioned offices, a staff area, kitchen and staff W/C facilities located towards the rear of the property.
The remaining elements of the first and second floors comprise two residential flats which are sold off on long leases. The two residential flats are accessed externally to the rear of the property via external metal staircases in a shared yard, which is accessed via a secure gate to a rear passage providing access to and from Station Road via Warwick Quadrant.
The ground floor retail unit, currently let to Sequence (UK) Limited (t/a Barnard Marcus), is mainly open plan with two partitioned offices, a staff area, kitchen and staff W/C facilities located towards the rear of the property.
The remaining elements of the first and second floors comprise two residential flats which are sold off on long leases. The two residential flats are accessed externally to the rear of the property via external metal staircases in a shared yard, which is accessed via a secure gate to a rear passage providing access to and from Station Road via Warwick Quadrant.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront
Building Size
1,135 SF
Building Class
B
Year Built
1960
Price
£400,000
Price Per SF
£352.42
Net Initial Yield
8.05%
NOI
£32,200
Tenancy
Single
Number of Floors
3
Building FAR
0.91
Lot Size
0.03 AC
Frontage
15 ft on Station Rd
AMENITIES
- Signage
- Storage Space
1 of 1
NEARBY MAJOR RETAILERS
