Prime Retail and Residential Development Opportunity*
Major Development opportunity in the heart of Walton Town Centre
Affluent South-West London Location
Strategic position between The Heart Shopping Centre and Bridge Street
Extensive rear yard
Comprises approximately 725.67 sq m (7,811 sq ft) and occupies a site of 0.09 ha (0.23 acres)
Development Opportunity for Alternative Uses (subject to consents)
Immediate Asset Management Opportunities
Lot 19
Auction 18th May 2022
Vacant Possession
Status Sold Prior
Price
Sector Development
Auction Venue Live Streamed Auction
On Instructions of Administrators
Property Information
Location
Miles
7 miles south-west of Twickenham, 14 miles north-east of Guildford, 20 miles south-west of Central London
Roads
A244, A308, M3, M4, M25
Rail
Walton-on-Thames
Air
London Heathrow Airport
Situation
Walton-on-Thames is an affluent and historic market town in Surrey, 1.5 miles east of Weybridge, 2.5 miles west of Esher and 20 miles south-west of Central London. The property is situated on the southern side of High Street, directly opposite McDonalds and between both entrances to The Heart Shopping Centre which includes retailers such as Sainsbury's, Next, Starbucks, Sports Direct and Pure Gym. Other nearby retailers include Santander, Boots, Halifax, Aldi and Wilko.
Tenure
Long Leasehold. The property is held on a Long Lease from the Institution of Mechanical Engineers for a term of 999 years from 25th March 1936 at a rent of £525 pa.
On 8th June 2014, the headlease was varied, via a deed of variation, to allow alterations and development of the property and to widen the user clause. Vehicle right to access to the rear was also obtained. Further details available within the legal pack.
Location
Miles
7 miles south-west of Twickenham, 14 miles north-east of Guildford, 20 miles south-west of Central London
Roads
A244, A308, M3, M4, M25
Rail
Walton-on-Thames
Air
London Heathrow Airport
Situation
Walton-on-Thames is an affluent and historic market town in Surrey, 1.5 miles east of Weybridge, 2.5 miles west of Esher and 20 miles south-west of Central London. The property is situated on the southern side of High Street, directly opposite McDonalds and between both entrances to The Heart Shopping Centre which includes retailers such as Sainsbury's, Next, Starbucks, Sports Direct and Pure Gym. Other nearby retailers include Santander, Boots, Halifax, Aldi and Wilko.
Tenure
Long Leasehold. The property is held on a Long Lease from the Institution of Mechanical Engineers for a term of 999 years from 25th March 1936 at a rent of £525 pa.
On 8th June 2014, the headlease was varied, via a deed of variation, to allow alterations and development of the property and to widen the user clause. Vehicle right to access to the rear was also obtained. Further details available within the legal pack.
Description
The property comprises ground floor retail units with self contained access to first and second floor ancillary accommodation. There is an extensive yard to the rear. The entire site extends to some 0.09 ha (0.23 acres).
VAT
VAT is applicable to this lot.
Planning
A positive pre app response was received for redeveloping the site into a 25,200 sq ft building comprising 26 new residential units and a 2,750 sq. ft. ground floor retail unit. Further information available within the Legal Pack.
Further enquiries can be made with Elmbridge Borough Council on 01372 474474 or visit www.elmbridge.gov.uk/planning
Note
*Contracts have been exchanged for the sale of the property although, in the event the sale does not complete on or before 6 May 2022, the contract will be rescinded and the property will continue to be listed in the auction.
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
6 week completion available.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail units with self contained access to first and second floor ancillary accommodation. There is an extensive yard to the rear. The entire site extends to some 0.09 ha (0.23 acres).
VAT
VAT is applicable to this lot.
Planning
A positive pre app response was received for redeveloping the site into a 25,200 sq ft building comprising 26 new residential units and a 2,750 sq. ft. ground floor retail unit. Further information available within the Legal Pack.
Further enquiries can be made with Elmbridge Borough Council on 01372 474474 or visit www.elmbridge.gov.uk/planning
Note
*Contracts have been exchanged for the sale of the property although, in the event the sale does not complete on or before 6 May 2022, the contract will be rescinded and the property will continue to be listed in the auction.
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
6 week completion available.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Ground
Retail
272.12
(2,929)
Vacant
First
Ancillary
302.96
(3,261)
Vacant
Second
Ancillary
150.59
(1,621)
Vacant
Total
725.67
(7,811)
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
