Cygnet House, 2 Clarence Street, Staines-upon-thames | Property for sale | Savills
Guide price £650,000

Cygnet House2 Clarence Street, Staines-upon-thames

  • New
  • Sole agency
  • Freehold

Key features

  • High Yielding Mixed Use Investment
  • Multi Let Retail/Office Opportunity
  • Let to Three Tenants with Two Floors Vacant
  • Producing £80,500 per annum
  • WAULT of 3.52 Years to Expiry
  • Asset Management Potential
  • Upper Parts Outside of 1954 Act
  • Development/Conversion Potential (stp)
  • Guide Price Reflects 12.38% Gross Yield

High Yielding, Multi-Let, Mixed Use Investment Opportunity Let Producing £80,500 per annum with 2 Floors Vacant Permitted Development Potential (stp)

About this property

  • The property comprises a multi let, mixed use, investment opportunity occupying a prominent central position in Staines. Arranged across basement, ground and two upper floors, the property is let to three tenants with a weighted average unexpired lease term (WAULT) of 3.52 years to expiry and producing a total aggregate rent of £80,500 per annum. The property benefits from a strong tenant mix, with the ground floor let to Chancellors Estate Agents and two suites to the upper parts let to two separate recruitment agencies. The property includes six dedicated parking spaces which are currently allocated to the occupational tenants. The property also offers immediate asset management opportunity via the letting of the vacant suites combined with longer term development/conversion potential (subject to obtaining the requisite consents). The property sits with a prominent frontage to Market Square and Clarence Street and forms part of the principal commercial area within Staines. The pedestrianised High Street is immediately to the east and the principal river crossing for both vehicles and pedestrians is to the west.

Additional information

  • Whilst there are no extant planning consents, an application has been submitted for permitted development to convert the upper parts to four residential units.
  • There may also be potential to increase the total accommodation via an additional floor (subject to existing leases and any requisite consents)