Commercial property for sale in High Street, Walton-On-Thames KT12
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Property features
- Freehold retail investment in a prime High Street position
- Let to 3 national operators with a current passing rent of £86,500
- Per annum
- Caffe Nero currently holding over. Agreement for Lease agreed for the gf extension of this unit to release upper floors for development
- Planning permission for conversion and extension of of No 18 to provide 1 x 3 and 1 x 2 bedroom flats
- Timpson's recently renewed their lease
- 8.8%
- Gros Initial Yield at Guide
Property description
Strapline
Auction Sale - 24/09/2024
Freehold retail investment in a prime High Street position.
Let to 3 national operators with a current passing rent of £86,500 per annum.
Planning permission for conversion and extension of No 18 to provide 1 x 3 and 1 x 2 bedroom flats.
Location
Walton on Thames is an attractive town on the southern bank of the River Thames, Located circa 18 miles south west of London and 2.5 mile east of Weybridge.
Situated in a prime High Street location.
Other nearby occupiers include Specsavers, McDonalds, Vodafone, Halifax Bank, Boots and Toni & Guy, together with a broad range of local independent retailers and restaurants.
Transport
Hersham and Shepperton Stations - National Rail
Planning
Planning permission has been granted by Elmbridge Council on 10th February 2022 (ref 2021/4262) and 2nd July 2024 (ref 2024/0545) for the conversion and extension to the ground floor rear, and upper floors of number 18. Copies of plans are available on the Local Authorities website.
This will require the release of the upper floors by Caffe Nero (which has been agreed). The ground floor unit would then be extended and the upper floors converted to create x 2 self-contained flats, as per the approved plans.
An Agreement to Lease is in place with Caffé Nero which can be executed by the new owner should they chose to do so. Interested parties should refer to the legal pack for further information.
It is considered there is further potential for comprehensive redevelopment in line with the planning consent on the neighbouring property for a new 5 storey building.
For more information about this property, please contact
Savills - National Auctions, W1G on +44 20 8022 4160 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Savills - National Auctions, and do not constitute property particulars. Please contact Savills - National Auctions for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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