SAVILLS GUILDFORD244-246 High StreetGU1 3JF

+44 (0) 1483 796 800

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FOR SALE RESIDENTIAL INVESTMENT AND DEVELOPMENT OPPORTUNITY

THORNBROOK HOUSE WEYSIDE PARKCatteshall Lane, Godalming, Surrey, GU7 1FP

Key Highlights• A prime residential investment and

development opportunity located in Godalming, Surrey

• Converted building comprising 34 flats, 26 of which form the demise providing 13,475 sq. ft. (1,252 sq. m.) of accommodation (NSA)

• All 26 units fully let with an annual income of £293,772

• Planning permission for the erection of 2nd and 3rd floor extensions to provide 9 flats with an additional NSA of 4,987 sq. ft. (463.3 sq. m.)

• Set within grounds of approximately 1.27 acres (0.51 hectare)

• For sale Freehold, subject to tenancies, on an unconditional basis

CGI for illustrative purposes only

This map was created with Promap

Thornbrook, Unit 2C, Weyside Park, Catteshall Lane, Godalming, GU7 1XE

Ordnance Survey © Crown Copyright 2016. All rights reserved. Licence number 100022432. Plotted Scale - 1:175000

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DescriptionThornbrook House provides a former 1980’s office building set within approximately 1.27 acres (0.51 hectares). The site shares vehicular access off Catteshall Lane into Weyside Park which is interspersed with landscaping and views onto the River Wey. The Property is arranged over three storeys and has been converted into 34 studio, one and two bed flats totalling 16,812 sq. ft. (1,562 sq. m.) (NSA) with parking for 110 cars. We highlight 8 of the units have been sold on long leasehold interests, each with the benefit of a single parking space. The remaining 26 units are fully let, with no allocated parking. The demise can be summarised as follows:

NO. OF BEDS

NO. OF UNITS

UNIT AREA SQ. FT. (NSA)

UNIT AREA SQ. M. (NSA)

Studio 2 301 28

1 bed 15 366 - 614 34 - 57

2 bed 9 506 - 657 47 - 61

Totals 26 13,475 1,252

For the avoidance of doubt, the above table excludes Flats 3, 4, 5, 6, 19, 20, 21 and 29, which have been sold on long leasehold interests.

LocationThornbrook House is located on Catteshall Lane, approximately 1 mile (1.7 km) to the west of Godalming town centre. Godalming is a historic market town located approximately 5 miles (8 km) to the south of Guildford and 31 miles (50 km) to the south west of Central London. It is an affluent commuter town offering a range of local amenities including: Waitrose, Homebase and a Sainsbury’s superstore.

Godalming is situated adjacent to the A3, which provides easy access to central London, Portsmouth, and Junction 10 of the M25 motorway is approximately 12.5 miles (20 km) to the north east.

Godalming railway station, approximately 1.3 miles (2.2 km) to the west of the Site, provides frequent rail services to London and regional locations. The service from London Waterloo runs 4 trains per hour, with a fastest journey time of 46 minutes.

SAVILLS GUILDFORD244-246 High StreetGU1 3JF

+44 (0) 1483 796 800

Site boundary for indicative purposes only

savills.co.uk

Existing Income

TENANCY NO. UNITS TOTAL £ PER ANNUM

EXPIRY

Individual Assured Shorthold Tenancies (ASTs)

6 £66,540 Various – not beyond 4 October 2019

5 year lease 19 £216,660 15 June 2022

5 year lease 1 £11,136 20 August 2023

Totals 26 £293,772 -

In addition, the Freeholder currently receives a ground rental income of £250 per annum on each of the 8 long leasehold units, totalling £2,000 per annum.

SAVILLS GUILDFORD244-246 High StreetGU1 3JF

+44 (0) 1483 796 800

Planning The Property lies within the administrative boundary of Waverley Borough Council (WBC). Waverley Borough Council adopted their new Local Plan Part (LPP1) in February 2018. There is an ongoing Judicial Review on LPP1. WBC are preparing a Local Plan Part 2, which will include further development management plan policies and smaller allocations including some Green Belt release, the adoption of which is expected in late 2019.

The Property benefits from an extant permission (reference WA/2016/0550) for the ‘Erection of second and third floor extensions to an existing building to provide 4 additional apartments and to extend an apartment’.

In addition WBC granted permission on 31 January 2018 for ‘Erection of second and third floor extensions to an existing building to provide 7 flats and alterations to staircase area’ (reference WA/2017/1798). When combined with the aforementioned extant permission, the Property benefits from consent for the development of a total of 9 additional units extending to 4,987 sq. ft. (463 sq. m.) NSA, which is summarised as follows:

PLANNING REFERENCE

NO. (PLOT NO.) FLOOR BEDS TOTAL SQ. FT. (NSA)

TOTAL SQ. M. (NSA)

WA/2016/0550 1 (35) 2 1 568 53

WA/2016/0550 2 (36) 2 1 572 53

WA/2016/0550 3 (37) 2 1 612 57

WA/2016/0550 4 (38) 2 1 580 54

WA/2017/1798 5 (39) 3 1 489 45

WA/2017/1798 6 (40) 3 1 578 54

WA/2017/1798 7 (41) 3 1 545 51

WA/2017/1798 8 (42) 3 2 633 59

WA/2017/1798 9 (43) 3 Studio 410 38

TOTALS 463 4,987

We understand some of structural steelwork has been put in place to facilitate the additional development in relation to the additional second and third floor extensions.

In 2016, pre-application advice was sought regarding the potential for additional development within the demise of the Property, the results of which are available upon request.

ContactSamantha McDermott+44 (0) 148 379 6826smcdermott@savills.com

Vicky Gunn+44 (0) 148 379 6841vgunn@savills.com

Charlotte Watts+44 (0) 148 379 6814charlotte.watts@savills.com

Method of SaleOffers are sought for the freehold interest, subject to the tenancies, on a strictly unconditional basis.

The Property will be sold by way of an informal tender (unless sold prior).

The Vendor does not undertake to accept the highest or any offer and reserves the right to proceed with a sale of the whole or parts without further announcement.

VATThe Property is not elected for VAT.

ViewingsAll viewings are strictly by appointment only. Block viewing days will be organised and allocated on a first come, first serve basis. Please contact Savills for more information.

Information PackFurther information is available for download upon request.

EPCsEnergy Performance Certificate Ratings for Flats 1 – 34 are between D67 – C80.

EPCs are available for individual units upon request.

IMPORTANT NOTICEMaps are reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. © Crown copyright licence number 100022432 Savills (UK) Ltd, published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | May 2019