TO BE SOLD AT ALLSOP AUCTION 21ST & 22ND MAY 2025 - UNLESS SOLD PRIOR
• A recently converted residential investment opportunity located in Reigate, RH2.
• The property is located 0.5 miles from Reigate station (Southern Railway).
• Developed in the latter part of 2024, the building consists of 14 apartments, 6 of which have been sold off on long leases. The ground floor retail has also been sold off on a long lease.
• The remaining 8 apartments comprise 1 x studio, 3 x 1 beds and 4 x 2 beds, 4,547 sq ft NIA.
• Average values of flats already sold within the building exceed £500 psf.
• The estimated rental value (ERV) of the residential apartments is £147,600 per annum.
• The sold off ground floor retail is occupied by 4 tenants which are not detrimental to the value of the apartments.
• Apartments being sold with vacant possession along with the benefit of 5 car parking spaces.
PROPOSAL
Guide Price - Offers in Excess of £1,450,000 (One Million, Four Hundred and Fifty Thousand Pounds), subject to contract, reflecting a low Capital Value of £318 per sq ft and an estimated Gross Yield of 10.1% against the ERV.
