Guide price
£4,300,000
18 bed detached house for saleBedford Road, Guildford, Surrey GU1
18 beds
17 baths
17 receptions
About this property
Prime location within Guildford town centre
350 yards East of Guildford Railway Station
Fully occupied and majority let to professional tenants
17 self-contained residential flats
16 x 1 beds & 1 x 2 beds
AST’s producing a total gross income of £280,000 per annum.
Freehold: The two ground floor retail units are sold off on long leases but be available to purchase.
Total gross lettable area of 8,327 sq. Ft.
The residential building consists of 17 self-contained flats. The flats are accessed via a communal entrance with the benefit of a passenger lift to the fourth floor.
St James House is a seven-storey mixed use retail and residential building constructed in circa 1970. The building is of steel frame construction with metal panel curtain walling to the front and rear with facing brick side elevations. The ground floor comprises two retail units occupied by Londis and Subway (sold off on long leases) and the upper floors comprise 17 self-contained flats.
The flats are accessed via a communal entrance with the benefit of a passenger lift to the fourth floor.
The property was renovated in 2016/17 with two additional floors added to the building to provide five self-contained flats over those two storeys (flats 13-17). Additional works to the block include upgrading the lift, a new fire management system, refurbishing the communal areas and a light refurbishment of flats 1-12.
To the rear of the property is a newly resurfaced yard incorporating two car parking spaces for the retail shops. The adjoining owners have rights of way across the rear service yard.
The property is let on 12-month AST’s producing a Gross annual rent of £266,000. Londis and Sunway are both sold off on long leases from the 19th December 2003 for 999 years at a peppercorn ground rent.
The Location
St James House is situated on Bedford Road within the town centre and is accessed via Onslow Street (A322). The property is surrounded by a mixture of commercial and residential buildings including The Friary Shopping Centre, Odeon Cinema and the University of Surrey 1.1 miles to the northwest. The Bedford Road multi-storey car park is located to the rear of the property.
The town regularly features in the top ten retail destinations outside of Central London and was voted 2nd in the pma Affluence Indicator of UK retail locations. Guildford is the largest student borough in Surrey (66,224 – 2011 census) which includes The University of Surrey, Guildford College and the acm.
In addition the town boast the Surrey Research Park, a hub of international global business, gaming and digital tech firms and many law firms. So, the professional tenant base is equally beneficial. Guildford has several potential upcoming developments including the £150m redevelopment of Guildford Railway Station, the proposal includes 57,000 sq. Ft of commercial and 438 new homes. The Casino and surface car park located opposite the subject property are allocated within the Guildford masterplan for potential redevelopment.
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