140 to 146 High Street, Godalming is a 1960’s built parade of shops with later additions and a full make over on the upper floors in the early part of this Century. Now all fully let with a nail bar, Insurance Brokers, Thai Spa, Hairdressers and Influencers business. The buildings, both new and old are concrete and steel framed with parking at the rear and lower ground floors.
Location
Located in an extremely busy area both in respect of traffic at the lights onto Flambard Way, but also with footfall from the station nearby and the Godalming College students. The property is just within the Conservation Area, but nonetheless could be suitable for an upwards extension. (Subject to the necessary planning consent). Godalming main line station is within 500 yards, The A3 trunk road is 2 miles and Guildford 4 miles north. Godalming is a thriving Town with a leisure centre, main Waverley Borough Council Offices, Waitrose, Sainsbury’s, Homebase, Pets at Home, WHSmith’s, Boots, Wetherspoons, Cote, Prezzo’s, Pizza Express, Lloyds, Nat West etc
Accommodation
Shops/ Premises 140 to 146 High Street are approx. 885 sqft each (82.3sqm) each shop has one car space.
The Flats There are 5 one bed flats and 3 two bed flats on the upper floors sold on a long leases from 2008 Management is in house via the freeholders. Tenants funds around £10,000.
The Leases
1) 140 High Street: 5 year FRI lease from June 2024rent passing £19,000pax + vat + service charge (£70 per quarter). Tenant only break after 1st June 2027
2) 142 High Street: Currently on annual licence (outside the Act) at £19000pax+vat from 31st January 2024 The Licencee is expected to sign a 5 year lease as per no 140 ( he has spent a fortune on the hairdressers and the studio downstairs for his Social media business) service charge (£70 per quarter) .
3) 144 High Street: 10 year lease from April 2018 at £18,000pax + vat + service charge (£70 per quarter) 5 year rent review and tenant only break.(passed)
4) 146 High Street: 12 year FRI lease from September 2016. Rent passing £19,000 pax + vat + service charge (£70 per quarter) rent review done September 2023.
The Flats: Sold on 125 year leases from 2008, ground rents £2 per flat. Tenant funds stands at £10,000. Current income £75000pax + vat.
Terms
PRICE: Offers in excess of £900,000 STC + vat ( to be sold as a going concern.)