REIGATE TOWN CENTRE INVESTMENT – SHOP AND TWO FLOOR MAISONETTE

LOCATION

The premises occupy a prime town centre trading location adjoining the old Market Hall building on the northern side of Reigate High Street with the pedestrianised Castle Walk and Castle Grounds at the rear. Nearby multiple traders include WH Smith, Sweatty Betty, Mountain Warehouse, Pret a Manger, Waterstones and Oliver Bonas. The pedestrian walkway to Morrisons supermarket with parking for 290 cars is on the south side of the high street (plan overleaf). Access onto the M25 at the top of Reigate Hill (junction 8) is within two miles by road. Gatwick airport is about seven miles to the south.

DESCRIPTION

The premises comprise a three storey terraced building of brick and tile construction with slate roofed back additions, having ground floor shop and basement and separate front entrance to a two bedroomed maisonette on first and second floors. The shop has been fitted out to a good standard with air conditioning and internal staircase to lower floor and the maisonette has gas central heating. There is a metal fire escape at the rear of the maisonette at first floor level and brick steps from the shop leading up to a small area of rear garden. The shop has an EPC rating of C valid until November 2032 and the maisonette an EPC rating of E valid until May 2029.

ACCOMMODATION

All measurements approximate, the accommodation is arranged as follows:-

Shop (16)

Internal frontage about 14’3” Built depth about 47 ft
Twin window displays Central entrance 47 sq ft
Retail area: 14’8” x 20’3” Understairs storage 254 sq ft
Rear room: Max 8’8” x 15’7”. Carpeted. 85 sq ft
Internal staircase down to lower ground floor:-
Kitchen (rear): Max 8’6” x 13’10” 98 sq ft
Central store: 13’2” x 12’9” 168 sq ft
Front store: 12’ x 12’9”. Meters 151 sq ft

NET INTERNAL AREA 803 sq ft (74.6m²)
Maisonette (16A)

Front door off entrance lobby and stairs leading up to first floor and to split level landing.
Living room (front): 14’6” x 12’11” plus angled bay.
Kitchen/breakfast room (back): 8’9” x 13’2”. Range of fitted drawers & cupboards, dishwasher, double oven, hob and fridge.

Rear landing off which:
Laundry room: 5’6” x 9’6”. Wall mounted central heating boiler.
Autowasher and dryer.
Bathroom: Panelled bath with tiled surround, shower attachment and pedestal washbasin.
Separate WC.
Second floor landing with airing cupboard.
Bedroom 1 (front): 14’5” x 13’4”
Bedroom 2 (back): 8’8” x 13’1”

RATING

Shop – RV £18,750 UBR 51.2 p in the £ 2024/2025
Council tax (maisonette): Band C.
Reigate & Banstead Borough Council Tel: 01737 276000.

LEASE

The shop is let to The Reigate Eye Studio on a ten year lease from 30th June 2021 inside the Landlord and Tenant Act 1954 at £23,000 per annum exclusive. The lease is on FRI terms with rent review and tenant break clause after five years.

Maisonette 16A is let on an Assured Shorthold Tenancy since 29th May 2015 at a low rent of £800 per month exclusive and the tenant is holding over.

PLANNING

The permitted use is class E. The property lies within the town centre conservation area but is not a listed building.

PRICE GUIDE

Offers in the region of £628,500 freehold.

VIEWING

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