117/117a is a late 1960’s built inner terrace property constructed of brick/ concrete frame under a flat roof. Features include a lock-up garage, ample parking and an outside terrace at first floor level for the flat. The shop is let to a five branch electrical retailer, RSM Domestic Appliances Ltd on a ten year full repairing and insuring lease from 30th April 2020 at a rental of £18,XXXax with a mutual break clause, subject to 6 months prior notice after 5 years, together with an upward only rent review, should the break not be exercised. It should be noted that this unit has been an electrical retail unit for many years, prior to this current letting.
Location
Collingwood Crescent is a vibrant and fully occupied neighbourhood parade which includes a One Stop double unit, a café, a butchers, hairdressers, green grocers and physiotherapy practice. It also has parking to the front, rear and side. There are several local schools within a few hundred yards and a densely populated catchment area, known locally as Boxgrove Park. Guildford Town Centre is about a mile, the A3 trunk road about 2 miles and the A246 Guildford to Leatherhead road about 500 yards.
Accommodation
117 Collingwood Crescent:
Shop area: 851sqft (79sqm)
Lock up garage: 160sqft (14.86sqm)
Private parking to the rear, rear loading doors. Forecourt parking to the front and also parade car park to the side.
117a Collingwood Crescent:
Dedicated walkway to the flats
Private Terrace (south facing)
Entrance Lobby: with plumbing for washing machines and dryer. Front door to sitting room, with Kitchen area (fully fitted with hob, oven, fridge and freezer and washing machine).
2 Double Bedrooms
Bathroom
Storage heaters, double glazed.
The consumer units are edition 18 and there is of course the direct feed, unvented hot water cylinder for great hot water pressure without the need for a pump.
The flat is wired for BT/Virgin and Sky.
Terms
RATEABLE VALUE: £12,XXXa. (qualifies for full small business rate relief)
FLAT: Band B council tax.
THE INVESTMENT: The shop is let to an excellent local covenant RSM Domestic Appliances Ltd. For a period of 10 years, with a mutual break clause after 5 years at an annual rent of £18,XXXax. We are advised the vat does not apply. We understand the recent letting at 123 and 125 Collingwood Crescent were at £20,XXXax. We are advised that the rental value of the flat is in the region of £14/15,XXXa.
PURCHASE PRICE: £595,000 freehold (a long lease and share of the freehold).
EPC: Shop D76 Flat E53.