37 Chertsey Road, Woking, GU21 5AJ

Summary

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.

Key Points

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.

Location