221 FIR TREE ROAD, EPSOM DOWNS, SURREY KT17 3LB – RETAIL INVESTMENT FOR SALE

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221 FIR TREE ROAD, EPSOM DOWNS, SURREY KT17 3LB – RETAIL INVESTMENT FOR SALE

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Proceeding from Reigate up the A217 towards Banstead and Sutton, turn left at Burgh Heath (A240 Reigate Road) past the Asda supermarket and down to the Drift Bridge traffic lights. Turn left into Fir Tree Road and the property is near the end of the parade just before Fir Tree Close.

LOCATION

The premises are part of an established shopping parade in the Epsom Downs area which fronts the A291 close to its junction with the A240 Reigate Road. Epsom town centre and Banstead Village shops are each within two miles. Epsom Downs Station is within easy walking distance and Epsom Race Course is about one mile. Access onto the M25 (Junction 8) is about five miles.

DESCRIPTION

The property comprises a double fronted lock up with three forecourt parking spaces which is let at £12,500 p.a. as a hairdressing salon trading as Mulberry and Thyme. There is a side gate and shared path leading through to a shallow rear yard with metal staircase to upper floor flats. The first floor (221A) and second floor (221B) flats in this three storey brick and tile building were sold off on long leases many years ago, each with a separate area of rear garden, and paying current ground rents of £150 per annum and £50 per annum respectively.

ACCOMMODATION

The accommodation is arranged as follows, all measurements approximate:

Main shop: 23’11”x 19’11”. Modern fittings and shop front 473 sq ft

Rear salon: 9’8” x 9’9” UPVC door to yard 94 sq ft

Lobby through side door off which:

Store room: 6’5” x 7’3” less recess 41 sq ft

Kitchenette: 5’10” x 3’3” 19 sq ft

Separate WC with handbasin

NET INTERNAL AREA 627 sq ft (58.25m²)

Forecourt parking with three car spaces. Side path and gate leading through to concrete yard with brick retaining wall. The two areas of rear garden are in ownership of the upstairs.

RATING

Shop RV £9,700. UBR 51.2p in the £ 2021/2022
Reigate and Banstead Borough Council Tel: 01737 276 691

LEASES

The shop and forecourt are held on a twelve-year lease expiring 12th May 2025 inside the Landlord and Tenant Act 1954 to Aplym Ltd T/A Mulberry and Thyme at £12,500 per annum exclusive plus share of insurance premium.

Flat 221A is held on a 99-year lease from 25th August 2016 with ground rent of £150 p.a. doubling every 25 years plus building insurance contribution.

Flat 221B is held on a 999-year lease from 24th April 1980 with a fixed ground rent of £50 p.a. plus building insurance contribution.

PRICE GUIDE

£179,950 freehold. Subject to existing leases. Currently producing income of £12,700 per annum exclusive.

VIEWING

By prior appointment with our office. Tel: 01737 245886 (ref MS).

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