Home > Auctions > September 2022 01 September 2022 - 9:00am > Lot 98

September 2022: Thursday 01 September 2022 - 9:00am
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    Key features

    • Development Opportunity in Affluent Surrey Town close to Royal Holloway University
    • Planning Permission GRANTED to substantially increase the size of the building and provide a further floor and additional three bed flat
    • Investment let at £54,840 pa pro rata (£4,570 pcm)
    • Comprises 4 flats (fully let) with two ground floor commercial units held with vacant possession
    • Asset management opportunity to increase rent roll with letting of two shops or conversion to residential (stpp)
    • Popular student area less than 500m from Royal Holloway University Campus

    Description

    The property is a substantial building currently comprising two vacant commercial units together with 4 flats let on student AST's. The property includes a substantial car park at the rear with parking for approximately 10 cars. The property also benefits from planning permission granted to increase the size of the shop at 19 Victoria Street and to provide additional accommodation and new 3 bedroom maisonette (plot 2) (see planning section).


    • Plot 1 - Existing 3 bed maisonette at 19A - planning to convert into a 2 Bed Flat with Private Patio approximately 61 sq m
    • Plot 2 - Existing 3 bed maisonette at 19A as above - and an additional 3 Bed maisonette with Private Balcony approximately 120 sq m
    • Plot 3 - Existing Bindles 42A 2 Bed Flat - planning to enlarge to create 2 Double Bedrooms, Dining Room and Study and Private Patio 80 sq m
    • Plot 4 - Existing 1 Bed Flat 19B - planning to convert into a 3 bed maisonette with 2 en-suite shower rooms approx. 96 sq m
    • Plot 5 - Existing Studio High View 42B to convert to a 2 bed maisonette with one en-suite shower room and a kitchen living room approx. 87 sq m

    Additional information

    Tenure

    Freehold.

    Accommodation

    Approximate Floor Areas


    42A Armstrong Road/Bindles - 67 sq m (721 sq ft) - 3 bed


    19A Victoria Street - 102 sq m (1,097 sq ft) - 3 bed


    19B Victoria Street - 33 sq m (335 sq ft) - One bed


    High View 42B Victoria Street - 21 sq m (226 sq ft) - Studio flat


    19 Victoria Street - 18.38 sq m (178 sq ft) - Retail/Shop


    20 Victoria Street - 12.22 sq m (132 sq ft) - Retail/Shop

    Tenancy

    42A Armstrong Road - 1 year AST from 10/07/2022 until 09/07/2023 at a rent of £15,600 pa (£1,300 pcm)


    19A Victoria Street - AST from 20/09/2022 until 30/06/2023 at a rent of £1,620 pcm


    19B Victoria Street - 1 year AST from 01/08/2022 until 31/07/2023 at a rent at £10,800 pa (£900 pcm)


    High View 42B Victoria Street - 1 year AST from 18/07/2022 until 17/07/2023 at a rent of £9,000 pa (£750 pcm)


    19 Victoria Street - Vacant Possession


    20 Victoria Street - Vacant Possession


    Total Rent - £54,840 pa (pro rata)

    Planning

    Planning Permission has been granted for proposed ground floor infill and creation of increased shop area to no.19 Victoria Street and internal alterations: roof enlargement including raised ridge and eaves and partial demolition and alteration of rear projection to provide additional accommodation and new 3 bedroom flat together with associated bin and bike storage and parking and the replacement of the existing aluminium windows and upvc doors, with painted timber, to shop fronts 16, 17, 18, 20 , 21, 22 and 23. Please see Runnymede Borough Council (Ref: RU.21/1652). Please see plans in the legal pack.


    An independent agent has provided their opinion of approximate GDV figures of the completed development which amount to approximately £1.7m. Please note this is indicative and should not be relied upon.

    Rent

    £54,840 pa

    Notes

    Please note that the full term's rent for 19A and 19B has been paid in advance and will be apportioned to the purchaser upon completion.

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        Local information

        Englefield Green is an affluent and attractive area approximately 1 mile west of Egham and 21 miles south-west of Central London. The property is located on the south side of Victoria Street, close to it's junction with St Jude's Road. The property is less than 500 metres from Royal Holloway University and is popular with students. Nearby occupiers include a number of pubs, cafe's and independent shops.

        Transport

        1 mile west of Egham

        5 miles south-east of Windsor

        21 miles south-west of Central London


        Bus - 8 (Slough & Egham Train Station)

        Train: Egham (direct services to London Waterloo)

        Legal documents

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        EPC rating

        If no EPC rating appears please refer to the legal pack.

        Guide prices and common auction conditions

        •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

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