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Lot

11

25 High Street, Woking, Surrey, GU21 6BW

Bidding Closed

SOLD FOR

£625,000

Property Enquiries

Oliver Childs

Oliver.Childs@bidx1.com
+44 (0) 20 3929 8289

Viewings/Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Mary Dibley

md@buglear-bate.co.uk
01483 715 527

Description

Map

Viewings


Addendum
The correct names of the residential tenants are Terry Nigel Bolton and George Lawrence French and not as stated in the Special Conditions of Sale. A Unilateral Undertaking dated 5 April 2019 has been executed between Woking Borough Council and Peter John Childs. The SAMM contribution of £503 plus the Council’s legal costs of £100 have been paid. The purchaser will be responsible for the payment of the CIL unless a claim is made for exemption of the levy in the prescribed manner. We are advised by Woking Borough Council that the charge is approximately £4,630, payable to the Council on commencement of the development. The Local Planning Authority will issue a Liability Notice as soon as practical after the granting of planning permission. Planning permission (Reference: PLAN/2018/1371) was granted by Woking Borough Council on 11 April 2019.
Property Summary
  • Freehold shop and residential investment with further development opportunity
  • Comprises two shop units and a large two bedroom flat
  • One shop with A2 use
  • The Council has resolved to grant planning permission for conversion of the existing roof space to form a self-contained one bedroom flat (1)
  • Affluent commuter town
  • Town centre location 200 metres from Woking Rail Station
  • No VAT applicable
  • Total Current Rent Reserved £21,800 per annum (plus vacant A2 shop) (2)
  • In the same family ownership for over 40 years
Tenure

Freehold

Location

Woking is an affluent Surrey town situated in the London commuter belt midway between Weybridge and Guidford with a residential population of 85,000. The town benefits from a frequent rail service to London Waterloo (from 24 minutes) and has established itself as one of Surreys major commercial and retail centres which benefits from its proximity to the A3, M3 and M25. Woking is benefitting from significant town centre investment and regeneration, including the Victoria Square development.

Situation

The property is situated on the north side of High Street, about 200m from Woking Rail Station. The is a right of way at the rear leading to Commercial Way, the main pedestrianised shopping street in the town centre, where occupiers include HSBC, Halifax, Bills, Cote and William Hill, amongst many others.

Description

The property is presently arranged to provide two ground floor shops (one with A2 use) and a large self-contained two bedroom flat above which is accessed from High Street at the front.

Rental Information

Total Current Rent Reserved: £21,800 per annum

Planning

The Council has resolved to grant planning permission, subject to completion of a legal agreement, for conversion of the existing roof space to form a self-contained one bedroom flat (Ref: PLAN/2018/1371). Please refer to the Councils website or to the legal pack for further information (1).

For further information visit Woking Borough Council (01483 755 855) www.woking.gov.uk.

VAT
VAT Not Applicable.
Property Table
No. Tenant Accommodation Lease Terms Current Rent £ p.a. (excl) RentReview/Reversion
Shop Vacant (2) Ground Floor A2 Shop/Office (3) - 26.40 sq (284 sq ft) Vacant    
Shop Individual (t/a Grey Oriental Foods) Ground Floor Shop (3) - 52.00 sq m (560 sq ft) 5 years from 03/02/2018 £14,000 Reversion 2023
Flat Individual(s) First Floor Flat - 3 Rooms, Kitchen, Bathroom, 2 WCs - GIA 84.00 sq m (904 sq ft) 12 month Assured Shorthold Tenancy from 01/07/2015 at £650 pcm £7,800 Holding over
(2) Shop/office currently occupied by the seller, but will be offered with vacant possession upon completion.    
(3) Not measured by BidX1.  The floor areas have been taken from the VOA website www.voa.gov.uk.    
EPC

EPCs will be provided for each unit within the legal documentation.

*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted "subject to contract". Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. A minimum participation fee of £4,500 must be paid by all bidders who wish to partake in the auction. A participation fee of £4,500 is comprised of the £1,000 (inclusive of VAT) administration fee payable directly to BidX1 and £3,500 relating to your bidder security (partial deposit payment). A higher participation fee may be payable depending on the reserve price of the Lot. However, even in those circumstances, the administration fee shall remain at £1,000 (inclusive of VAT). The participation fee is fully refundable if you do not make the successful bid in relation to a Lot at auction. If you make a successful bid in relation to a Lot at auction your participation fee is non-refundable.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.