Exchanged

Reigate, Surrey – Residential investment opportunity

Park House, 77-81 & 83 Bell Street, Reigate, Surrey, RH2 7AH

Offers in the region of £3,750,000

Property Type:
Residential
Tenure:
Freehold

Description

*Price Reduction*

  • Freehold property totaling 0.274 acres (0.111 ha)
  • Two adjoining former office buildings converted to C3 Residential in 2018
  • A total of 18 self-contained flats comprising:
    • 16 flats fully let subject to a mix of ASTs, Company Lets and a Licence
      • 15 x one bed & 1 x two bed
    • 2 flats sold-off on a long lease
      • 1 x one bed & 1 x two bed
  • Approximate NSA (excluding common parts): 8,607 sq ft (799 sq m)
  • Total Current Rent Reserved: £186,115 per annum
  • Estimated Rental Value: £196,500 per annum
  • Large rear carpark / site benefiting from planning permission for the development of six flats
  • Desirable town centre location providing a wide range of local amenities all within easy walking distance

Offers in the region of £3,750,000 (previously £4,500,000) are invited for the Freehold interest, subject to all the existing tenancies, subject to contract.

Further viewing dates available and offer deadline date set for 12:00 (noon) on Tuesday 17th May 2022.

NB: There is potential as separate transactions, subject to agreement of terms and pricing, to also ‘buy in’ the two flats subject to a long lease and also to sell-off the rear carpark to a local developer.

Subject to contract