An attractive mixed-use, town centre investment. The premises comprise a substantial, detached, three storey building together with rear garden and garages.
There is a well established Pharmacy and Indian restaurant on the ground floor. There are 4 spacious 2-bedroom flats above which have their own access from the rear. One of the flats is let to the Indian Restaurant as part of the restaurant lease and is used for staff. The other 3 flats are let on separate Assured Periodic Tenancies to individuals. There is also an attached 2-bedroom house at the rear known as Rowles Court which is also let on an Assured Periodic Tenancy.
There is a detached block of 3 garages at the rear, two of which are let under a separate licence to the Indian Restaurant and the other one will be sold with vacant possession. The side access leading to the rear of the premises is only suitable for bikes and is not wide enough for cars.
There is a large garden at the rear of the premises.
Location
The premises occupy a strong High Street location in the centre of Caterham on the Hill which has a wide selection of shops, restaurants and other local amenities.
Caterham on the Hill benefits from good road and rail connections with Junction 6 of the M25 close-by at Godstone. There is a Mainline Railway Station in Caterham Valley (0.75 miles) providing regular services to Croydon and London.
There are a number of on-street parking bays along this section of the High Street as well as free parking in the Raglan Shopping Precinct car park nearby.
Accommodation
4A-4B High Street (Chemist): 1,138 sq ft (105.72 sq m)
4C High Street (Indian restaurant): 707 sq ft (65.68 sq m)
4C High Street (flat): 745 sq ft (69.21 sq m)
4A High Street (flat): 678 sq ft (62.99 sq m)
4B High Street (flat): 643 sq ft (59.74 sq m)
4X High Street (flat): 568 sq ft (52.77 sq m)
Rowles Court (house): 1,069 sq ft (99.31 sq m)
3 x Garages: 252 sq ft (23.41 sq m)
Total: 5,800 sq ft approx.
Outside: Large rear garden
Terms
For a detailed view of the Tenancy Schedule, please view attached brochure
Sale Price & Potential: We are instructed to seek £1,190,000 for the freehold, subject to contract. Potential for active management and possible longer term development opportunity.
Tenure: Freehold
VAT: We understand that VAT is not applicable to the sale price.
EPC: This current EPC ratings are as follows:
4A-4B High Street (Chemist) B (35)
4C High Street (Indian Restaurant) B (32)
4A High Street (Flat) D (64)
4B High Street (Flat) D (66)
4C High Street (Flat) D (66)
4XHigh Street (Flat) C (70)
Rowles Court (House) C (70)
Legal Costs: Each party is to pay their own costs.
Specification
- First time on the market for over 100 years
- Freehold mixed-use retail & residential investment
- High Street location
- Pharmacy & Indian Restaurant
- Includes 4 x 2 bed flats & 1 x 2-bed house
- 3 Garages
- Large rear garden
- Total income £99,720 per annum
- Freehold price £1,190,000 (subject to contract)
- No VAT