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28-32 Berrylands Road, Surbiton, Kingston upon Thames, KT5 8RA
Guide Price* : £450,000
Mixed Use Investment Opportunity with Development Potential (STP)
- Mixed use Retail/Residential Investment Opportunity
- Prominent Location
- Freehold
- Let on a single lease producing £37,250 per annum (holding over)
- Asset Management Potential
- Site Area – 0.12 acres (468.64 sq m)
- Redevelopment Potential (Subject to Planning)
- Guide Price of £450,000 reflects NIY of 7.95%
Description
An excellent opportunity to purchase a mixed-use retail and residential property on a busy junction in Surbiton. The property comprises three retail units on the ground floor converted into a single unit with a sales area fronting the road and storage to the rear comprising a total of 2,482 square feet. The unit is trading as a Londis convenience store.
The upper parts comprise one three-bedroom and one fourbedroom maisonette with separate accesses. Both are arranged over first and second floors. The maisonette at 28A is accessed from Paragon Grove and includes a room at ground floor level that is not currently in use with a further room at first floor level that was formerly used as an office in conjunction with the retail use. A further door then leads into the maisonette which comprises four bedrooms, a bathroom and kitchen. The maisonette at 32A comprises three bedrooms, a bathroom and kitchen is accessed at first floor level through the rear storage yard via an external staircase.
The storage yard to the rear is accessed both via the retail unit and from Paragon Grove.
Location
The property is in a residential neighbourhood of Berrylands Ward and benefits from a frontage to Berrylands Road. The retailers in the area are predominately local businesses providing restaurants, cafes and convenience stores.
The property provides the largest convenience store in the immediate area and generates a high footfall. The nearest supermarket is over 10 minutes walking distance.
The property is located in Surbiton, a suburban neighbourhood in South West London within the Royal Borough of Kingston upon Thames. Surbiton is situated on the south side of the River Thames and is 11 miles southwest of Charing Cross. Surbiton comprises the wards of Alexandra, Berrylands, St Mark’s and Surbiton Hill.
The area is served by the A3 which northbound provides access to central London via Wandsworth and Vauxhall, and southbound access to Guildford via Cobham. The closest rail service is from Surbiton Train Station. The station is within 10 minutes walking distance and provides regular services to London Waterloo, Hampton Court, Woking and Guildford. Berrylands Station is situated three quarters of a mile to the north-east and is on the same line as trains departing Surbiton
Train Station
Tenure
Freehold
Tenancy
The entire property is subject to a full repairing and insuring lease on a term that expired 24/03/2021. The tenant is therefore holding over. The lease is within the protections of the Landlord and Tenant Act 1954 and producing £37,250 per annum.
VAT
Refer to the legal documentation
Contact
Joint auctioneers
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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Subject to Contract and Exclusive of VAT © Lambert Smith Hampton March 2025
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