83 Horley Road
South Earlswood
Redhill
RH1 5AS
MIXED USE RETAIL, WORKSHOP & RESIDENTIAL INVESTMENT
192 sq ft
Investment
£295,000
Key Features
- Freehold retail, workshop & residential investment
- Established location on A23 close to Redhill & Gatwick
- Shop let to Jane’s Pampaw Grooms for 5 years at £6,000pa
- Workshop let for 6 years at £2,400pa
- 3-bedroom maisonette let on a 2 year AST at £1,180pcm
- Rear access via Prince Albert Square
- Freehold price £295,000 (subject to contract)
Tenancy
£295,000 for the freehold, subject to contract. There is potential for active management and improving the rental return. The property is to be “sold as seen”. Interested parties should note that we are also selling 79 Horley Road within the same parade. Further details upon request
Description
Mixed use investment in well-established local parade with layby parking.
The ground floor retail unit is let to a dog-groomers trading as Jane’s Pampaw Grooms. The workshop at the rear is let to a vehicle restorer / mechanic. The 3-bed maisonette is arranged over part ground (at the rear of the shop) and first floors. There is a side entrance to the maisonette. The property and particularly the maisonette are in need of some repairs and updating, however, the property is to be sold as seen. There is a communal yard and toilet for the shop and workshop. The property benefits from rear access via Prince Albert Square.
Accommodation
| Address | Accommodation | Tenant | Term | Term | Rent (PA) | Repair & Insurance | Other |
|---|---|---|---|---|---|---|---|
| Gross Internal Area (GIA) | Start | Expiry | |||||
| 83 Horley Road (Shop) | Shop 192 sq.ft Stores 22. sq.ft | Jane's Pampaw Grooms | 01/09/2024 | 31/08/2029 | £6,000 | Internal repairing & Insuring | Lease outside the landlord & Tenant Act 1954. Rent review and mutual break at end of 3rd year. Rent Includes water & electricity. £500 Rent Deposit. |
| 83 Horley Road (Workshop at rear) | Workshop 300 sq.ft Covered yard 229 sq.ft | Justin Gomez | 0109/2024 | 31/08/2030 | £2,400 | Internal repair8ing & insuring | Lease outside the landlord & Tenant Act 1954. Rent review and mutual break at end of 3rd year. Rent Includes water & electricity. |
| Maisonette at 83 Horley Road | Ground Floor - kitchen, bathroom & living room First Floor - 3 bedrooms & WC | Individual | 2 year Assured Shorthold Tenancy from 01/09/2024 | £14,160 | Rent inclusive of Council Tax, gas electricity and water bills. Rent Deposit £1,180. | ||
Location
The premises occupy a well-established retail location on the A23 just to the South of Redhill and close to Gatwick Airport. The parade is opposite McDonalds.
Redhill benefits from excellent road and rail connections. Salfords and Redhill Mainline Train Station are close by.
Terms
£295,000 for the freehold, subject to contract.
EPC
This property has the following EPC Ratings:
Shop – B (46)
Maisonette – D (58)
Viewing
For further information or to arrange a viewing please contact:
Joe Yorke Bsc Hons Tel: 01737 222835
Email: joe@raynerscommercial.com
Chris Richards MRICS Tel: 01737 222835
Email: chris@raynerscommercial.com
VAT
VAT We understand that Vat is not applicable