RESIDENTIAL INVESTMENT OPPORTUNITY

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Aileen Webb
5 years ago
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1 RESIDENTIAL INVESTMENT OPPORTUNITY WITH DEVELOPMENT POTENTIAL 35 HOMEFIELD ROAD, HERSHAM, SURREY, KT12 3RE

E X E C U T I V E S U M M A R Y Freehold income producing residential investment Detached building on sizeable corner plot Development potential subject to planning permission Site area 634 sq m (0.

2 E X E C U T I V E S U M M A R Y Freehold income producing residential investment Detached building on sizeable corner plot Development potential subject to planning permission Site area 634 sq m (0.15 acres) Arranged as 1 x Studio, 1 x 2 Bed Flat, and 2 x 2 Bed Maisonettes Current residential accommodation extending to 199 sq m (2140 sq ft - Net) Desirable Surrey town location Currently let on AST agreements producing 34,020 per annum Under-rented with potential reversionary rental uplift on AST renewal. Off street parking and large rear garden Company purchase potentially available

L O C A T I O N The property is situated on a quiet cul de sac location in the outskirts of Walton upon Thames and approximately 2 miles to the west of the recently

Walton upon Thames is an affluent residential town approximately 15 miles to the South West of central London in the Elmbridge borough of Surrey.

3 L O C A T I O N The property is situated on a quiet cul de sac location in the outskirts of Walton upon Thames and approximately 2 miles to the west of the recently regenerated town centre. Walton upon Thames is an affluent residential town approximately 15 miles to the South West of central London in the Elmbridge borough of Surrey. The town is bordered by Weybridge to the west and Molesey to the east. Hersham train station is situated within 0.8 miles of the property and provides direct access into London Waterloo (approximately 34 minutes). Junction 1 of the M3 is situated circa 5 miles away and provides direct access in central London and the M25.

4 A C C O M M O D A T I O N & T E N A N C Y I N F O R M A T I O N The property comprises a detached barn style building with plenty of character on a substantial corner plot. The property is arranged over ground, first and second floor levels as four fully self-contained residential apartments. The property is accessed through a large gravel drive which provides off street parking for several cars and benefits from a large garden to the rear. The apartments are arranged as studio flat the front of the ground floor with a large two bedroom flat overlooking the substantial communal gardens to the rear of the property. There are two x two bedroom maisonettes above arranged over first and second floor levels. The maisonette to the rear of the property also has a roof terrace overlooking the garden. The residential accommodation is of a fair condition throughout however, could benefit from some modernisation. All four properties are currently let on standard AST agreements. The passing rents may be considered to be under market value as most of the tenants have been in occupation for a number of years. Sq m Sq Ft Passing Rent pa Estimated Rental Value Flat 1 Ground Floor Two Bedroom Flat ,540 ( 900 pcm) 10,800 pa Flat 2 Ground Floor Studio Flat ,300 ( 625 pcm) 7,500 pa Flat 3 1 st & 2 nd Floor Two Bedroom Maisonette with balcony ,180 ( 875 pcm) 10,500 pa Flat 4 1 st & 2 nd Floor Two Bedroom Maisonette ,000 ( 850 pcm) 10,200 pa TOTAL ,020 pa 39,000 pa

5 E X I S T I N G P L A N S ( N O T T O S C A L E ) GROUND FLOOR 1 st FLOOR 2 nd FLOOR Flats 1 & 2 Flats 3 & 4 Flats 3 & 4

D E V E L O P M E N T P O T E N T I A L The property is situated in a predominantly residential area and in our opinion is suitable to provide additional residential

6 D E V E L O P M E N T P O T E N T I A L The property is situated in a predominantly residential area and in our opinion is suitable to provide additional residential accommodation to the rear of the property subject to obtaining the necessary planning permission. The building could benefit from some modernisation and refurbishment throughout.

F U R T H E R I N F O R M A T I O N TENURE Freehold with the benefit of existing residential AST agreements. Vacant possession available. A company purchase may also be available.

PRICE Price on Application. Mr Jordan Rundle T: 020 8977 6885 E: jordan@levene-commercial.

the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions,

7 F U R T H E R I N F O R M A T I O N TENURE Freehold with the benefit of existing residential AST agreements. Vacant possession available. A company purchase may also be available. FURTHER INFORMATION For further enquiries or viewings, please contact the vendors Sole Agents. Viewing strictly by prior appointment only. VAT We are advised that no VAT will be applicable. PRICE Price on Application. Mr Jordan Rundle T: E: jordan@levene-commercial.com MISREPRESENTATION ACT 1967 and PROPERTY MISDESCRIPTIONS ACT 1991 Messrs Levene Property Group Ltd for themselves and for the vendors of this property whose agents they are give notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Messrs Levene Property Group Ltd has any authority to make or give any representation or warranty whatever in relation to this property.

FREEHOLD FOR SALE WITH FULL VACANT POSSESSION

FREEHOLD FOR SALE WITH FULL VACANT POSSESSION PRELIMINARY PARTICULARS OPPORTUNITY FOR OWNER OCCUPIERS, INVESTORS AND DEVELOPERS A TERRACE OF LIGHT INDUSTRIAL / WAREHOUSE UNITS WITH ONE OFFICE BUILDING AND A SUBSTANTIAL YARD FREEHOLD FOR SALE WITH