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Adj Railway Bridge Upper Brighton Rd 4,094 sq ft 100% Let Retail Property Surbiton KT6 6JY £1,250,000 (£305.32/sq ft) 4.80% Net Initial Yield
Investment Highlights
- This opportunity offers strong development potential for residential or mixed-use schemes.
- Located within walking distance of Surbiton Railway Station and High Street.
- Guide price: Offers in Excess of £1,250,000 for the freehold interest.
- The existing property comprises a car garage and three flats (1 x 1-bed and 2 x 2-beds).
- Currently generates £60,000 per annum in rental income.
Executive Summary
The property comprises a mixed-use site featuring an existing MOT garage and adjoining residential accommodation. The garage, currently let to You Autos LTD on a flexible lease, offering the potential for vacant possession and falls within light industrial (B1) use class. The total area extends to approximately 4,094 sq ft, including the front forecourt area. Adjacent to the commercial unit is a residential building arranged as three flats, all let on short-term tenancies, providing flexibility for future asset management. The residential element totals approximately 1,624 sq ft (GIA) and is currently producing circa £40,000 per annum, with scope for additional uplift as the units are under-let and rents have not been reviewed in recent years. The commercial unit currently produces £21,000 per annum, please note this part is also under-let, and the ERV is closer to £40,000 per annum. Also note that 30% of the site is currently used by the owner, and isn’t utilised fully. The total combined income currently provides £61,392 per annum. The property is held under two separate titles (SGL417018 and SGL36194), and there is no relevant planning history on the site. The location supports values in the region of £550–£600 per sq ft, presenting a strong opportunity for income enhancement or redevelopment, subject to the necessary consents.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Vehicle Repair Garage
Property Size
4,094 sq ft
Costar Property Class
B
Year Built
2000
Price
£1,250,000
Price per sq ft
£305.32
Yield
4.80%
NOI
£60,000
Occupancy Rate
100%
Number of Floors
2
Plot ratio
1.09
Total Plot Size
0.09 ac
Parking
4 Spaces (1.52 Spaces per 1,000 sq ft Leased)
1 1
Nearby Major Retailers
1 of 6
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Adj Railway Bridge | Upper Brighton Rd
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