East Grinstead, West Sussex

Retail and Residential Building in a prime location in the London Road affording good investment and management potential.

• Good access to all Town Centre amenities
• Attractive historic building
• Building extends internally to approximately 1,800 sq ft (167 sq m)
• One shop and two 2 bedroom flats
• Good long term potential

FREEHOLD INVESTMENT FOR SALE

SITUATION
The Property is prominently situated in a prime trading position in the London Road, the main retail area of East Grinstead. Major retailers near by include Natwest Bank, WH Smith, Fat Face, Jo Jo Maman Bebe, Vodafone, Greggs, Holland & Barrett and Poundland.
The railway station with services to London via East Croydon and the bus terminus are both within approximately 0.5 miles. Junction 10 on the M23 motorway is about 6 miles distant, giving access to Gatwick Airport and the M25 motorway.

DESCRIPTION
16 London Road is a mid-terrace building and architecturally forms part of a pair with 14 London Road. The building provides a retail shop at ground floor and two upper floors arranged as two flats. The property has brick elevations to the front and rear with the second floor tile hung at the front, all under a pitched, clay tiled roof.

The Shop trades as Toni & Guy and is fitted out as a hair salon. The shop front is mainly glazed with the entrance door to the left-hand side of the building. Internally the shop is a rectangular shaped layout. At the rear there is a staff area with WC kitchenette, and rear door to a passage leading to the London Road.

The first floor flat, No 16a, is reached via a door from the pavement set within 14 London Road and comprises two bedrooms, a sitting room, bathroom and kitchen. There is access from the kitchen to a small roof terrace above the rear of the shop.

Flat 16b is approached via an external passageway and with the rear access shared with the shop. The flat comprises two bedrooms, a sitting room, bathroom and a kitchen. Similar to the flat the floor below.

Shop
Unit Size: 600 sq ft (55.74 sq m)
Tenant: Toni & Guy South East Ltd
Reg. No. 05272448
Lease Term: 14.02.2020 to 13.02.2030 Inside L & T Act 1954
Current Rent: £19,000 per annum
Rent Review 14.02.2025
Tenant repairs
Insurance rent recharged

Flat 16a
Flat Size: 614 sq ft (57 sq m)
Tenant: Two individuals
Lease Terms: Periodic - 30.01.2023
Current Rent: £10,272 per annum
Assured Shorthold Tenancy

Flat 16b
Flat Size: 581 sq ft (54 sq m)
Tenant: Two individuals
lease Terms: Periodic - 30.11.2022
Current Rent: £9,924 pa

BUSINESS RATES & COUNCIL TAX
The Properties have the following rateable values:
16 London Road - shop & premises - £16,250
16a London Road - residential flat - Band B
16b London Road - residential flat - Band B

TERMS
Offers invited for the freehold - price guide - £600,000. Subject to the tenancies, subject to contract and exclusive of VAT.

VIEWING
Strictly by confirmed appointment via the Selling Agents:-
RH & RW Clutton - 01342 410122
Philip Baker - PhilipB@rhrwclutton.co.uk