Key Points
Description
This Grade 2 listed building comprises 2 shops and 3 flats arranged on basement, ground, first and second floors. Access to 2 of the flats is from West Street whilst the 3 rd flat arranged on first floor only is accessed at the rear of the property.
Situation
The subject property occupies an excellent location in the Town Centre close to the junction of the Borough and Downing Street whilst being opposite the entrance to the Lion and Lamb Yard shopping centre anchored by Waitrose and a large attached shopper's surface car park. The property is adjacent to Space NK and Elphicks Department store whilst other close by occupiers include Oliver Bonas, Waterstones, Joules, Mint Velvet, Goldsmiths and Jigsaw.
Farnham Town
Farnham has an attractive shopping environment with several historic buildings housing an interesting mix of retail occupiers. New development is taking place in the Town Centre including the Crest Nicholson development known as Brightwells Yard nearing completion on East Street comprising a 25 unit scheme to include an M & S Foodhall, Seasalt Fashions, Pret a Manger and a 6 screen Cinema. It will also include 240 new homes and 400 car spaces.
Accommodation
| 8 West Street | Sq. Ft | Sq. M |
| Shop 1 ( British Heart Foundation) | ||
| Ground Floor Area | 1,178 | 109.44 |
| ITZA | 515 | |
| Shop 2 (Lady of Leisure ltd T/A Sweaty Betty) | ||
| Ground Floor Area | 1,160 | 107.76 |
| Basement Area | 498 | 46.26 |
| ITZA | 488 | |
| Flat 1 (Vacant) | ||
| First & part second floor | 827 | 76.83 |
| Flat 2 (Vacant) | ||
| Second floor | 864 | 80.27 |
| Flat 3 (Vacant) | ||
| First floor rear | 476 | 44.22 |
Tenancy Schedule
| Shop 1 (British Heart Foundation) |
| Let for 10 years from the 29th October 2019 at £42,500 per annum exclusive of rates and service charge with a rent review and tenant break on the 3rd October 2024. |
| Shop 2 ( Lady of Leisure Ltd ) trading as Sweaty Betty |
| Let for 10 years from the 19th August 2015 at £38,500 exclusive of rates and service charge. Their option to break in 2020 was not exercised. |
Farnham Residential Market
The flats at 8 West Street are spacious with good natural light and views to the rear towards the church and to the front the shopping areas of Lion & Lamb Yard and West Street. The sale market for flats in Farnham is strong with local agents advising figures of £450 psf plus capital value. There is also a healthy letting market for both students and locals.
Tenure
Freehold, subject to the tenancies and vacant possesion of the 3 flats.
EPC
Available on request
Proposal
Offers are invited in the region of £2m, subject to contract.
Legal Costs
Each party to bear their own legal costs.
01483 300 176
