Overview

Shop & Uppers For sale located on the edge of Guildford Town Centre
Previous planning granted to convert gf into a two bedroom flat.

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  Description
  Investment / development opportunity comprising existing ground floor laundrette with separate office and storage to the rear accessed from Madrid Road via the side alley. On the first floor a self contained two bedroom flat accessed from Madrid Road.
  
  Potential to obtain VP at the rear, extend and convert to create residential space subject to the relevant consent and to utilise the large rear garden

  Location
  The property is situated within a predominantly residential area on the Eastern edge of Guildford Town Centre just 0.4 miles to the station.
  
  Short walk to both University of Surrey & University of Law
  The A3 is 0.5 miles away

  Tenancies & Income
  Ground floor (front) let on FRI lease for a term of 15 years from 11th January 2019 with 5 year rent reviews (to the greater of OMV or RPI) the next one being due January 2029 - Current passing rent £14,330 per annum
  
  Ground floor (rear office) 3 Month notice at any time for vacant possession - let on FRI lease for a term of 15 years from 11th January 2019 with 5 year rent reviews the next one being due January 2024, let to same party as the front with a passing rent of £1,750 per annum
  
  First Floor flat let on a 24 month AST with a break clause at 12 months, commenced 25th January 2023
  passing rent is £17,604 per annum
  
  Total passing rent: £33,684 per annum

  Planning
  Planning granted on the 15th February 2016 by Guildford Borough Council ref: 15/P/01761 for Change of use from laundrette (sui generis) into new two bedroom dwelling flat (C3).
  
  Not implemented

  Terms
  Guide Price £450,000

  VAT
  We understand VAT is not applicable

  Viewings
  Please do not approach staff - View by appointment - Contact sole agents - Christopher St James 020 8545 0591