Executive Summary
- Freehold restaurant and bar arranged over three floors plus basement located in Esher on the London and Surrey border
- Suitable for both owner occupiers and developers looking to add value by converting the existing space and possible extensions (STPP)
- Planning permission granted to convert the upper parts into 3 x 1-bedroom apartments
- Offers are invited in excess of £800,000 for the freehold interest to be sold with full vacant possession. A purchase at asking price reflects a very low capital value of approximately £199.50 per sq ft base on the current GIA
Location
The property is situated on Church Street, Esher in the heart of the town centre close to the junction with the High Street. Esher is an extremely charming and affluent suburb of London situated on the Surrey border. Esher train station is 1 mile away and is on the South West Main Line operated by South Western Railway. It provides a direct line into London Waterloo with journey times as quick as 30 minutes. Esher town centre is occupied by a range of national and well-established independent businesses which provides a vibrant trading environment. Notable occupiers include Waitrose, Pizza Express, The Bear (Hotel), Cote, Giggling Squid – Esher, and Everyman Esher. Sandown Park Racecourse is 0.2 miles north-east of the property.
Please note all distances given are approximate only.
Description
The property is arranged over three floors and basement. The ground floor was previously used as a restaurant and bar. The first floor was used as a commercial kitchen and storage. The second floor was used for storage, albeit we have been informed it was once used as staff accommodation. The basement has been used as a beer cellar, office and storage. We have been advised of the following current gross internal floor areas:
Ground Floor: 1,900 square feet (176.5 sq m)
First Floor: 1,110 square feet (102.2sq m)
Second Floor: 600 square feet (55.7 sq m)
Basement: 400 square feet (37.1 sqm)
Total: 4,010 square feet (371.5 sq m)
Please note that the sizes have been provided by the vendor and are approximate only. All interested parties are advised to rely on their own inspection and survey.
Development
Planning permission has been granted for a ‘change of use of 1st and 2nd floors to residential use to create 3 flats, single storey rear extension, conversion of flat roof areas to terrace amenity space and rebuild of existing second storey mansard roof’. The local authority is Elmbridge Borough Council and the planning reference number is 2025/1384. We are informed that the CIL payment is £1,003.68 and there are no additional financial contributions secured via a s106 agreement.
Terms
Offers are invited in excess of £800,000 for the freehold interest to be sold with full vacant possession. A purchase at asking price reflects a very low capital value of approximately £199.50 per sq ft base on the current GIA. Offers to lease the building on FRI will be considered.
Tenure
The freehold interest is to be sold with full vacant possession.
VAT
We have been informed that property is elected for VAT.
Viewings
Viewings are strictly by appointment through sole agents Harston&Co.
