The property is situated within this 1960’s constructed shopping parade, with the subject premises comprising a lock-up shop, forming the ground floor of a two storey building, (the first floor being a self-contained flat which has been sold off separately on a ground lease).
The premises are currently trading as a kitchen/bathroom product showroom let out to a couple t/a Paul Michael Goddard Interiors. To the rear of the shop there is a toilet and kitchen and a pedestrian door leading to a parking area.
The parade supplies a much needed multi-unit shopping scheme serving the busy and constantly growing village of Yateley, where retailers include a long establish fishing equipment centre, a stone product shop, barbers, dry cleaners, café, chip shop, betting shop, pizza hut, a hardware shop, carpet shop, food market, Chinese takeaway, betting shop and a nails/beauty shop.
Location
Yateley is situated approximately 3.5 miles west of Camberley. The M3 motorway, Junctions 4 & 4a are both within a few miles, providing access to the M25 north, and both Heathrow and Gatwick Airports, and southbound to Basingstoke and Southampton. The Blackwater Valley Relief Road (A331) links to Guildford (A3) and Farnham/Alton (A31).
The parade is situated in the heart of Yateley village, off the Reading Road, which is the main arterial road running through the retail village centre and benefits from the local Camberley bus service with various stops located within the Reading Road.
Accommodation
Shop Area 647 ft² (60.08 m²)
Kitchen & Toilet 55 ft² ( 5.18 m²)
Total 702 ft² ( 65.26 m²)
Terms
FIRST FLOOR FLAT:
The first floor flat has been sold off on a 125 year lease from September 2020 subject to a peppercorn ground rent.
BUSINESS RATES:
The shop has a rateable value of £13,250 which computes to a figure payable of £2,754.92 on the basis a tenant complies with the small business rates scheme. Please note that the tenant pays the rates.
SERVICE CHARGE:
There is an estate service charge which is running approximately £1,448.69 per annum. The tenant pays the service charge.
BUILDINGS INSURANCE:
Approximately £505 per annum.
OCCUPATIONAL LEASE:
The shop is let to Paul Michael Goddard Interiors Limited, with a guarantee from Mr Paul Goddard, the lease is to September 2033, there is a tenant only, once only break on the 13th September 2027 subject to a minimum of 6 months prior written notice. There is a rent review in September 2028.
The current rent is passing at £15,250 pax.
PARKING:
Provided by the Service Charge, the tenant is provided with a 24 hour parking permit, and a 30 minute loading permit.
GROUND LEASE FOR SALE:
Our clients own a 999 year lease granted in 1988 subject to a peppercorn, although we understand that currently no ground rent is being requested or paid.
FOR SALE:
Offers in the region of £200,000 for our client’s ground lease interest.
VAT:
We understand that the property has not been elected for VAT.
EPC:
E-105
Specification
- APPROX 7.5% GROSS YIELD INVESTMENT
- BUSY SHOPPING PARADE LOCATED OFF READING ROAD
- SHOP LEASE UNTIL 2033 (SUBJECT TO ONE BREAK CLAUSE IN SEPTEMBER 2027)
- NO VAT
- GOOD SIZE OF SHOP WITH REAR ACCESS