Key Points
Location
37 Chertsey Road is located in a busy trading location on the edge of Woking Town Centr e 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 A 3 is located 5 miles to the East, with links to London and the South Coast, the M36 miles.
Description
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.
Accommodation
AVAILABLE | SQ FT | SQ M |
Ground Floor | 836 | 77.66 |
ITZA | 562 | 52.25 |
The upper parts are formed of an HMO of 6 rooms of various sizes ranging from 106-269 sq. ft.
Rates
Rateable Value: £24,750
Rates Payable: £9,855.25
Price
Guide Price: £1,200,000
Tenure
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.
Legal Costs
Each party to bear their own legal costs incurred in the transaction.
Anti Money Laundering Policy
In accordance with Anti Money Laundering Regulations, the successful purchaser will be required to provide two forms of identification and confirmation of the source of funding.
Viewing
Strictly by appointment with the sole agents