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More details for Vicarage Ln, Capel - Retail for Sale

Motor Trade Workshop & Forecourt - Vicarage Ln

Capel, RH5 5LL

Retail for Sale
£700,000
4,800 sq ft

Security System
Smoke Detector

Capel Retail for Sale - Mole Valley

The premises are situated on Vicarage Lane just off The Street in the heart of Capel Village. Opportunity to purchase this village garage premises set on site of approx 0.25 acres for existing/continued use/other commercial uses or redevelopment S.T.P.P. The site under Title Nos: SY569196 & SY546524 – one title for the garage workshop site and forecourt and the other for the driveway over which a number of other parties have right of access and egress. The existing building has operated as a traditional village garage and forms a mix of forecourt to the front main workshop and ancillary areas. The vendor family now seeks to sell the site for continued commercial use or redevelopment for a residential scheme. The buildings on the site currently comprise a main workshop to the ground floor including office totaling approx 4800 sq ft (446 m²) with eaves height 13’6” plus ancillary lean-to stores and male and female WCs. The site overall extends to approximately 0.25 acres. GUIDE PRICE Offers in the region of £700,000 plus VAT subject to contract and subject to the existing lease with full vacant possession available from lease expiry in April 2027. TENURE Freehold sale under Title Nos: SY569196 & SY546524 subject to the existing lease with full vacant possession available from lease expiry in April 2027. EXISTING LEASE PRESENT OCCUPATION & PASSING RENT The property is currently in use by way of a 14-year lease granted from 19.4.12 but extended to 2.4.27 within the LTA 1954 provisions granted to motor trade user. The lease is to expire 2.4.27 to enable full vacant possession being granted at that time. The passing rent is discounted due to the tenant's personal association with the landlord and the condition of the workshop and is set at £24,000 pax paid monthly at £2,000 pcm. We have the opinion that the estimated rental value with the workshop roof overhauled in the open market would be £52,000 to £55,000 pax. PLANNING INFORMATION AND PLANNING HISTORY We are not aware of any recent planning history on the site other than ancillary to the extending use. We are aware that our client has commissioned an environmental report and contamination assessment in April 2024. RATES The property has a rateable value of £37,750. VAT We are advised that these premises are not elected for VAT and therefore VAT will not apply to the purchase price. LEGAL COSTS Each party to be responsible for their own legal costs in the transaction. EPC An EPC is being commissioned. VIEWING Strictly by prior appointment only through sole agents: ROBINSONS 01306 884685