The property comprises a two storey detached character building of traditional construction with brick elevations under pitched and tile covered roof. The accommodation includes a Lower Ground Floor Restaurant with Rear Ground Floor and First Floor Leisure along with self-contained First Floor Flat at rear of first floor.
First Floor Flat with Independent Entrance Comprising (Known as 7 Arundell Place, Farnham) Three Bedrooms, Sitting Room, Kitchen, Bathroom, Cloakroom.
Location
Farnham is an affluent and prosperous Surrey market town located on the border with Hampshire.
There is an eclectic mix of shopping in the town including a range of multiples and independent boutiques along with Sainsbury’s, Waitrose and Lidl supermarkets.
There are a number of highly regarded state and independent schools in the area including the University for the Creative Yards about 150 yards from the subject property. There are churches of most denominations. The town has its own mainline service providing a fast and regular service to London Waterloo.
The A31 town by pass provides fast connections with the A3 and A331 with the national motorway network beyond.
Accommodation
Ground Floor Retail/Restaurant - 118.20 SQ M (1,272 SQ FT)
Rear Ground Floor/First Floor Leisure - 205.40 SQ M (2,211 SQ FT)
Terms
TENURE: Freehold, subject to the current tenancies.
North Barn Shop, let to One Stop Ltd t/a North Barn Bistro, Italian bistro by way of an effective Full Repairing and Insuring Lease for a Term of ten years from 5 January 2023 at the initial rent of £16,000 per annum exclusive, subject to five year upward only RPI Review. There is a Tenant only break option at the end of the fifth year upon service of six months prior written notice. Six months Rental Deposit held throughout the Term.
North Barn Rear of Ground and First Floor let to Latitude Sports and Entertainment Ltd by way of an effective Full Repairing and Insuring Lease for a Term of ten years from 3 December 2023 at the initial Rent of £32,000 per annum exclusive, subject to upward only RPI Rent Reviews at the end of every third year. There is a Tenant only Break at the end of the fifth year subject to service of six months prior written notice. Three months Rental Deposit plus Directors Personal Guarantees.
First Floor Flat let on Assured Shorthold Tenancy at £1,600 per month ie £19,200 per annum
Total Income £67,200 per annum exclusive
PRICE: Offers in the region of £900,000 Freehold.
The property is elected for VAT.
RATES:
Retail Rateable Value £15,500 payable at 49.9p in the £ (2023/2024)
Leisure Rateable Value £22,250 payable at 49.9p in the £ (2023/2024)
Flat Council Tax - D
EPC:
Shop /Restaurant D78
Leisure D83
Flat D 58
Specification
- Prominent and Well Located in Affluent Market Town
- Opposite Waitrose Supermarket and Public Car Park
- Three Self-Contained Fully Let Demises