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208 High St 869 SF Retail Building Dorking RH4 1QR $597,999 ($688.15/SF)
Investment Highlights
- Retail Tenant on a new 21-year lease from June 2024 at £20,000pa.
- Total income of £34,160pa.
- Desirable location with retail vacancy rates within Dorking around 10% - 11% - well below the national average.
- Two-bedroom duplex apartment above let on an AST at £14,160pa.
- Business in situ operating for a number of years, having had a recent change in management.
Executive Summary
The property comprises a ground floor retail unit currently occupied by a dry cleaning business, with all fixtures, fittings and equipment in situ. The retail accommodation is arranged over the ground floor, with partitioned areas separating the front sales area from the rear.
A self-contained two-bedroom apartment is situated above the retail unit, arranged over the first and second floors. The apartment is currently let on an Assured Shorthold Tenancy (AST) and falls within the provisions of the Homes Act 2018.
The retail unit is let on a 21-year lease from June 2024 at a rent of £20,000 per annum, while the apartment generates £14,160 per annum under the existing AST, providing a combined annual income of £34,160. The property is located in Dorking, Surrey, benefiting from good road connections to the M25, Reigate and Guildford, together with rail services to London and the South Coast.
A self-contained two-bedroom apartment is situated above the retail unit, arranged over the first and second floors. The apartment is currently let on an Assured Shorthold Tenancy (AST) and falls within the provisions of the Homes Act 2018.
The retail unit is let on a 21-year lease from June 2024 at a rent of £20,000 per annum, while the apartment generates £14,160 per annum under the existing AST, providing a combined annual income of £34,160. The property is located in Dorking, Surrey, benefiting from good road connections to the M25, Reigate and Guildford, together with rail services to London and the South Coast.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
869 SF
Building Class
B
Year Built
1800
Price
$597,999
Price Per SF
$688.15
Tenancy
Single
Building Height
1 Story
Frontage
18’ on High Street
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Services
- 869 SF
- -
- -
Our Victoria branch Established in 1992. It offers full dry cleaning, laundry, pickup and alteration service. We even offer to collect and return items in Victoria upon request. Knights Drycleaners is the revolutionary dry cleaning provider for the year 2000 and beyond...... our main ambition was to be a leading dry cleaning outlet and offer a premium service to our exclusive cliental, which to you loyalty and feedback we have been able to achieve over a short period of time.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Services | 869 SF | - | - |
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208 High St
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