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Woking is an affluent South East town in Surrey which forms part of the London commuter belt. It is approximately 30 miles (48 km) south-west of Central London, 24 miles (39 km) south-east of Reading and 6 miles (10 km) north of Guildford.

Woking benefits from extensive transport communications and is approximately 5 miles (8 km) south-west of Junction 11 of the M25 Motorway. Junction 3 of the M3 Motorway is some 7 miles (11 km) to the north-west. The town is also served by the A3 which is approximately 4 miles (6.4 km) to the south.

Heathrow Airport is situated approximately 14 miles (22 km) to the North and Gatwick Airport is 30 miles (48 km) to the south-east. There is a direct mainline rail service to London Waterloo plus fast and regular services to the south coast and the south-west. Trains depart for London every few minutes throughout the day, and the journey takes 25 minutes.

Woking is a dynamic growth town, ranked in the top 20% of UK local authorities for economic vibrancy. Over the last decade, Woking’s population has grown by 9% (NOMIS) with 56.1% of those working in the town in managerial, professional and technical occupations; 11% above the British average. Moreover, 45.7% of the population is qualified to NVQ Level 4 and above; 8.6% above the British average. Several global names have invested in their operations in the town, including McLaren, Asahi, Petrofac, Cap Gemini, WWF-UK and Mustang Engineering. Woking has one of the largest concentrations of knowledge sector businesses in the UK (Source: Woking Works).

The property comprises a retail unit at ground and basement levels and a self-contained 3-bedroom residential apartment on the first and second floors. There are three car parking spaces at the rear, two of which are allocated to the commercial tenant and one is allocated to the residential tenant.

The retail unit is arranged over ground and basement levels and has been a funeral director since 1972.

The 3-bedroom duplex flat is accessed from the ground floor at the rear of the property. There is one bedroom, a reception room, a separate kitchen and a bathroom on the first floor and two bedrooms on the second floor.

In 2017 the residential element was comprehensively refurbished with a new fitted kitchen, a granite worktop, new appliances, a new central heating system, new carpets, electrics, plastering, painting, a new bathroom, and tiling. At the same time, external works took place included renewing the roof, lead flashings and windows. The specification of works is available to download. The property comes with the benefit of a 20-year roof guarantee for the flat part of the roof and 10-year roof guarantee for the pitched part of the roof, the guarantee is available to download.

The retail element is let to Dignity Funerals Limited on a full repairing and insuring lease for a term of 10 years from 27th April 2017, expiring 26th April 2027 at a passing rent of £18,000 per annum. Therefore, there are 5 years unexpired with no breaks.

The residential element is let on a 1-year AST expiring on 4th November 2022 and we suggest is let at a low rent of just £13,200 per annum (£1,100 per calendar month).

The estimated rental value for the residential element is proposed at £16,200 per annum (£1,320 per calendar month), providing an opportunity to increase the rental income from November 2022.

Therefore, the total passing rent is £31,200 per annum and the estimated rental value is £34,200 per annum.

The property has not been registered for VAT and therefore VAT is not applicable on the purchase price.

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Purchasers benefit from the trust, security and transparency provided by the platform. All activities, including the online contract execution, will form part of the electronic audit trail which is anchored in the clicktopurchase® Blockchain.

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