Retail premises for sale in Church Road, Aldershot GU11

Property for Sale: Freehold Investment Opportunity with Development Potential

This is a prime investment opportunity in a sought-after location, offering multiple revenue streams, excellent development potential, and an attractive price point. The property consists of both residential and commercial elements, including:

Key Features:

74 (Commercial Unit): Off-license generating £1,700 per month in rent (with potential to increase to £2,000 per month). The off-license currently achieves £18,000–£19,000 in weekly sales. The existing lease has 7.5 years remaining, with the possibility of securing a new 20-year contract. Rent reviews allow for an increase every 4 years.
74A (Two-Bedroom Apartment): Currently rented at £1,300 per month.
74B (One-Bedroom Flat): Rental income of £1,000 per month. This unit has potential for extension into a two-bedroom flat, or the two-bedroom apartment could be converted into a three-bedroom unit.
Ground Floor Amenities: Two storage units, staff toilet, and kitchen facilities.
Parking and Storage: A large rear garden and space for six cars, along with three garages that could be rented (previously rented at £300 per month).
Development Potential: The property has significant potential for further development. Planning permission could be sought for a bungalow at the rear, which would significantly increase the property's value.
Key Financial Information:

Asking Price: £750,000 (negotiable to £700,000 without planning permission for the bungalow).
Current Offer: £670,000 (rejected).
Projected Value with Planning Permission: £750,000.
Business Rates: Exempt, with business relief potentially applicable.
This is the largest property in the area, located in a historically significant former military zone, offering buyers a unique blend of commercial and residential investment with long-term growth potential.

Viewing is highly recommended to fully appreciate the size, location, and development opportunities available.