The Property
Comprising a commercial unit over basement and ground floors, plus three self-contained flats across the upper parts (3 x two beds).
Located in the centre of Redhill, the property benefits from extremely high footfall, and is just a 6-minute walk (0.3 miles) from the Train Station.
The building comprises a fully income-producing mixed-use freehold, with the ground floor commercial unit let on a Full Repairing & Insuring (FRI) lease to a franchisee of Right at Home – a care agency with over 80 locations nationwide. Above, three two-bedroom flats are let on Assured Shorthold Tenancies (ASTs), generating a total rent across the building of £79,000 per annum.
Elem Real Estate was appointed sole agent by the vendor, a well-established property company. Terms were agreed with a local cash buyer, and contracts were exchanged within four weeks of the buyer’s solicitor receiving the legal pack. The transaction was completed entirely off market.
Location
