37 Chertsey Rd 872 sq ft 100% Let Retail Property Woking GU21 5AJ £1,200,000 (£1,376.15/sq ft)

The subject property is a four storey mixed used building with rear access from the Local Authority. Car Park also available. The ground floor is formed of an A3 /A5 retail unit currently trading as Roosters Piri Piri with the upper floors occupied as a licenced HMO, with 6 rooms let out on AST contracts on a room by room basis on all inclusive rents.

37 Chertsey Road is located in a busy trading location on the edge of Woking Town Centre. Nearby occupiers include Weatherspoon's, Jaipur Indian, KFC, Thali, William Hill, Ladbrokes, Taco Bell, McDonalds, Subway and Nando's. In terms of local transport links the A3 is located 5 miles to the East, with links to London and the South Coast, the M3 6 miles.

The freehold interest is available subject to the below tenancies.

The ground floor is let to Farid Ahmed t/a Roosters Peri Peri on a 16 year FRI lease inside the Landlord Tenant Act from 25/12/16 with stepped increases every 4 years. The current passing rent is £38,066 stepping to £41,827 (2024) and £46,509 (2028).

A rent deposit is £17,303 (6 months ) is also held on account.

The upper parts are let out on an all inclusive AST rents in line with the below 1 month's deposit is held for each tenant and the appropriate HMO certificate has been obtained by the council for this use:

Room 1: £600 pcm
Room 2: £750 pcm
Room 3: £700 pcm
Room 4: £750 pcm
Room 5: £500 pcm
Room 6: £750 pcm
Total income is therefore £4,050 pcm or £48,600 per annum (less outgoings.)

The outgoings for the property are approximately £13,000 pa resulting in a net income on the upper parts of £34,600 per annum and an overall net income of circa £60,000 per annum.