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14-16 London Rd 600 sq ft Retail Unit Offered at £600,000 in East Grinstead RH19 1AG
Investment Highlights
- Good road connections
- Close to residential
- Amenities nearby
Executive Summary
The Property is prominently situated in a prime trading position in the London Road, the main retail area of East Grinstead. Major retailers near by include Natwest Bank, WH Smith, Fat Face, Vodafone, Holland & Barrett and Poundland. The railway station with services to London via East Croydon and the bus terminus are both within approximately 0.5 miles. Junction 10 on the M23 motorway is about 6 miles distant, giving access to Gatwick Airport and the M25 motorway.
1 Unit Available
- Unit
- Unit Size
- Unit Use
- Price
- NOI
| Sale Type | Investment | Tenure | Freehold/Long Leasehold |
| Net Initial Yield | 3.17% |
| Sale Type | Investment |
| Net Initial Yield | 3.17% |
| Tenure | Freehold/Long Leasehold |
Description
The Shop trades as Toni & Guy and is fitted out as a hair salon. The shop front is mainly glazed with the entrance door to the left-hand side of the building. Internally the shop is a rectangular shaped layout. At the rear there is a staff area with WC kitchenette, and rear door to a passage leading to the London Road.
Sale Notes
Retail and Residential Building in a prime location in the London Road affording good investment and management potential.<br /><br />
- Good access to all Town Centre amenities<br />
- Attractive historic building<br />
- Building extends internally to approximately 1,800 sq ft (167 sq m)<br />
- One shop and two 2 bedroom flats<br /> Good long term potential<br /><br />FREEHOLD INVESTMENT FOR SALE<br /><br />
SITUATION<br />The Property is prominently situated in a prime trading position in the London Road, the main retail area of East Grinstead. Major retailers near by include Natwest Bank, WH Smith, Fat Face, Vodafone, Holland & Barrett and Poundland.<br />The railway station with services to London via East Croydon and the bus terminus are both within approximately 0.5 miles. Junction 10 on the M23 motorway is about 6 miles distant, giving access to Gatwick Airport and the M25 motorway.<br /><br />DESCRIPTION<br />16 London Road is a mid-terrace building and architecturally forms part of a pair with 14 London Road. The building provides a retail shop at ground floor and two upper floors arranged as two flats. The property has brick elevations to the front and rear with the second floor tile hung at the front, all under a pitched, clay tiled roof.<br /><br />The Shop trades as Toni & Guy and is fitted out as a hair salon. The shop front is mainly glazed with the entrance door to the left-hand side of the building. Internally the shop is a rectangular shaped layout. At the rear there is a staff area with WC kitchenette, and rear door to a passage leading to the London Road.<br /><br />The first floor flat, No 16a, is reached via a door from the pavement set within 14 London Road and comprises two bedrooms, a sitting room, bathroom and kitchen. There is access from the kitchen to a small roof terrace above the rear of the shop.<br /><br />Flat 16b is approached via an external passageway and with the rear access shared with the shop. The flat comprises two bedrooms, a sitting room, bathroom and a kitchen. Similar to the flat the floor below.<br /><br />Shop<br />Unit Size: 600 sq ft (55.74 sq m)<br />Tenant: Toni & Guy South East Ltd<br />Reg. No. 05272448<br />Lease Term: 14.02.2020 to 13.02.2030 Inside L & T Act 1954<br />Current Rent: £19,000 per annum<br />Rent Review 14.02.2025<br />Tenant repairs<br />Insurance rent recharged<br /><br />Flat 16a<br />Flat Size: 614 sq ft (57 sq m)<br />Tenant: Two individuals<br />Lease Terms: Periodic - 30.01.2025<br />Current Rent: £11,376 per annum<br />Assured Shorthold Tenancy<br /><br />Flat 16b<br />Flat Size: 581 sq ft (54 sq m)<br />Tenant: Two individuals<br />lease Terms: Periodic - 30.05.25<br />Current Rent: £12,000 pa<br /><br />BUSINESS RATES & COUNCIL TAX<br />The Properties have the following rateable values:<br />16 London Road - shop & premises - £16,250<br />16a London Road - residential flat - Band B<br />16b London Road - residential flat - Band B<br /><br />TERMS<br />Offers invited for the freehold - price guide - £600,000. Subject to the tenancies, subject to contract and exclusive of VAT.<br /><br />VIEWING<br />Strictly by confirmed appointment via the Selling Agents:-<br />RH & RW Clutton -[use Contact Agent Button]<br />Ben Hall - [use Contact Agent Button]<br /><br />
| Unit | Unit Size | Unit Use | Price | NOI |
| Unit 16, 16a & 16b | 600 sq ft | Retail | £600,000 (£1,000.00/sq ft) | £19,000 |
Unit 16, 16a & 16b
| Unit Size |
| 600 sq ft |
| Unit Use |
| Retail |
| Price |
| £600,000 (£1,000.00/sq ft) |
| NOI |
| £19,000 |
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Unit 16, 16a & 16b
| Unit Size | 600 sq ft |
| Unit Use | Retail |
| Price | £600,000 (£1,000.00/sq ft) |
| NOI | £19,000 |
| Sale Type | Investment |
| Net Initial Yield | 3.17% |
| Tenure | Freehold/Long Leasehold |
| Description | |
| The Shop trades as Toni & Guy and is fitted out as a hair salon. The shop front is mainly glazed with the entrance door to the left-hand side of the building. Internally the shop is a rectangular shaped layout. At the rear there is a staff area with WC kitchenette, and rear door to a passage leading to the London Road.</li></ul> | |
| Sale Notes | |
| Retail and Residential Building in a prime location in the London Road affording good investment and management potential.<br /><br /><ul style="list-style: disc; padding: 0px 0px 0px 40px"><li> Good access to all Town Centre amenities<br /></li><li> Attractive historic building<br /></li><li> Building extends internally to approximately 1,800 sq ft (167 sq m)<br /></li><li> One shop and two 2 bedroom flats<br /> Good long term potential<br /><br />FREEHOLD INVESTMENT FOR SALE<br /><br /><br> SITUATION<br />The Property is prominently situated in a prime trading position in the London Road, the main retail area of East Grinstead. Major retailers near by include Natwest Bank, WH Smith, Fat Face, Vodafone, Holland & Barrett and Poundland.<br />The railway station with services to London via East Croydon and the bus terminus are both within approximately 0.5 miles. Junction 10 on the M23 motorway is about 6 miles distant, giving access to Gatwick Airport and the M25 motorway.<br /><br />DESCRIPTION<br />16 London Road is a mid-terrace building and architecturally forms part of a pair with 14 London Road. The building provides a retail shop at ground floor and two upper floors arranged as two flats. The property has brick elevations to the front and rear with the second floor tile hung at the front, all under a pitched, clay tiled roof.<br /><br />The Shop trades as Toni & Guy and is fitted out as a hair salon. The shop front is mainly glazed with the entrance door to the left-hand side of the building. Internally the shop is a rectangular shaped layout. At the rear there is a staff area with WC kitchenette, and rear door to a passage leading to the London Road.<br /><br />The first floor flat, No 16a, is reached via a door from the pavement set within 14 London Road and comprises two bedrooms, a sitting room, bathroom and kitchen. There is access from the kitchen to a small roof terrace above the rear of the shop.<br /><br />Flat 16b is approached via an external passageway and with the rear access shared with the shop. The flat comprises two bedrooms, a sitting room, bathroom and a kitchen. Similar to the flat the floor below.<br /><br />Shop<br />Unit Size: 600 sq ft (55.74 sq m)<br />Tenant: Toni & Guy South East Ltd<br />Reg. No. 05272448<br />Lease Term: 14.02.2020 to 13.02.2030 Inside L & T Act 1954<br />Current Rent: £19,000 per annum<br />Rent Review 14.02.2025<br />Tenant repairs<br />Insurance rent recharged<br /><br />Flat 16a<br />Flat Size: 614 sq ft (57 sq m)<br />Tenant: Two individuals<br />Lease Terms: Periodic - 30.01.2025<br />Current Rent: £11,376 per annum<br />Assured Shorthold Tenancy<br /><br />Flat 16b<br />Flat Size: 581 sq ft (54 sq m)<br />Tenant: Two individuals<br />lease Terms: Periodic - 30.05.25<br />Current Rent: £12,000 pa<br /><br />BUSINESS RATES & COUNCIL TAX<br />The Properties have the following rateable values:<br />16 London Road - shop & premises - £16,250<br />16a London Road - residential flat - Band B<br />16b London Road - residential flat - Band B<br /><br />TERMS<br />Offers invited for the freehold - price guide - £600,000. Subject to the tenancies, subject to contract and exclusive of VAT.<br /><br />VIEWING<br />Strictly by confirmed appointment via the Selling Agents:-<br />RH & RW Clutton -[use Contact Agent Button]<br />Ben Hall - [use Contact Agent Button]<br /><br /></li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Property Size | 3,258 sq ft | Floors | 3 |
| Property Type | Retail (Unit) | Typical Floor Size | 1,086 sq ft |
| Property Subtype | Shopfront Retail / Residential | Year Built | 1910 |
| Costar Property Class | B | Total Plot Size | 0.04 ac |
| Total Property Size | 3,258 sq ft |
| Property Type | Retail (Unit) |
| Property Subtype | Shopfront Retail / Residential |
| Costar Property Class | B |
| Floors | 3 |
| Typical Floor Size | 1,086 sq ft |
| Year Built | 1910 |
| Total Plot Size | 0.04 ac |
Amenities
- 24 Hour Access
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Nearby Major Retailers
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14-16 London Rd
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