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Freehold retail investment in a prime High Street position
Let to 3 national operators with a current passing rent of £86,500 pa
Caffe Nero holding over- Lease of GF extension of unit to release upper floors- development
Planning permission for conversion of of No 18 to provide 2 flats
Timpson's recently renewed their lease
8.8% Gross Initial Yield at Guide
Let to 3 national operators with a current passing rent of £86,500 pa. Planning permission for conversion and extension of No 18 to provide two bedroom flats.
About this property
Local information
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.
Additional information
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.