Freehold Mixed-Used Premises with Development Potential / BROOK ROAD, REDHILL RH1 / OIEO £400,000
An opportunity to purchase a freehold mixed-use property in a prominent location in Surrey.
The property is a two-storey detached building which comprises a vacant ground floor shop, 2 bedroom flat above and land to the rear. The commercial premises measures approximately 1,136 square feet and has the designated Use Class E (Commercial, Business and Service).
Above the shop is a well maintained 2 bedroom flat rented on a traditional Assured Shorthold Tenancy for £12,600 per annum. The flat has its own private entrance to the rear of the property. Additionally, there is a garden to the rear, which is used for storage and parking.
Opposite the site, planning permission was granted in January 2021 for a residential scheme of 57 units over 4 storeys. In 2016, (16/01622/F) planning permission was refused for the redevelopment of the site to provide 6 x 1 bed flats and associated parking. We consider there to be potential for a newbuild scheme or to add a rear extension and convert the ground floor into residential subject to planning permission.