RETAIL INVESTMENT WITH POTENTIAL FOR RESIDENTIAL DEVELOPMENT STP OF INTEREST TO DEVELOPERS AND INVESTORS FOR SALE FREEHOLD 0.224 Acres [0.091 Ha] currently with 3,418 SQ FT [317.52 SQ M] of buildings in Victoria Road FARNBOROUGH Hampshire GU14 7PL.
The property comprises a 0.224-acre site with 5 commercial units and one residential flat, configured over ground and first floors across two adjacent premises. The buildings are generally of brick and tile construction and positioned at the front of the respective plots. To rear of buildings on 79 Victoria Road there is a large open area used as a car park. The property is currently fully income producing and remains a popular commercial location for secondary retailers and offices. Subject to obtaining the relevant planning consents, the property has the potential for development for residential use. The Freeholder of the adjoining property has indicated that they are willing to grant a right of way over their property's car park to facilitate access into any future development of 77/79 Victoria Road. Further information on occupational leases available on request.
The premises are located prominently on Victoria Road in Farnborough, within 5 minutes walking distance of the extensively refurbished town centre shopping scheme. The M3 motorway Junction 4A is within just a few minutes' drive, and provides swift and easy access to London, the M25 motorway, the South Coast and both Heathrow and Gatwick Airports. Farnborough is a vibrant town that has been subject to significant investment with £150 million spent on The Meads project. Synonymous throughout the world with aviation, Farnborough has embraced its links with aerospace to become a world-leading centre of technological development and is home to companies including, Airbus, Qinetiq and Fluor. The town benefits from a mainline railway station, about 8 minutes' walk to the north of the property, which has a high-speed direct link to London (Waterloo 38 minutes).
Offers invited for the freehold interest (subject to the occupational leases) in excess of £1.75 million
Business Rates/ Council Tax / Council Tax Band :
These figures are not to be relied upon and it is recommended interested parties should make their own enquiries with the Local Rating Authority, Rushmoor Borough Rating Department.
Mains electricity, gas, water and drainage available. Caution: The services and fittings mentioned in these particulars have not been tested and hence, we cannot confirm they are in working order.
Interested parties should satisfy themselves as to the suitability of their proposed use. All enquiries should be directed to Rushmoor Borough Council, Council Offices, Farnborough Road, Farnborough, GU14 7JU.
This property advertised for sale is owned by a connected person within Pilgrims Sales & Lettings.