Summary - 1 The Broadway, Woking, GU21 6BW GU21 6BW
1 bed 1 bath Retail Property (high street)
High-visibility retail freehold opposite Woking station — long-lease convenience income..
Freehold mixed-use corner building opposite Woking mainline station
A prominent mixed-use corner freehold directly opposite Woking mainline station, offered as a long-lease retail investment with offices above. The ground-floor unit is let to an individual trading as Budgens for a 25-year term from October 2019 at £66,000 pa, with upward-only rent reviews every five years; the 2024 review has not been implemented. Upper floors are offices held on a 999-year lease at a peppercorn, limiting immediate upside from the offices.
The red-brick Georgian corner building provides excellent visibility and exceptional footfall from the station entrance and town centre passing trade. Internally the retail unit is fitted out as a convenience store with basement storage; the overall building footprint is small but vertically substantial, giving a sizeable total area (c. 8,930 sq ft). Transport links to London Waterloo and Portsmouth Harbour are strong, supporting convenience retail demand.
Income profile is straightforward: a single commercial rent of £66,000 pa. Note material considerations for investors: the offices produce no commercial rent (peppercorn lease), external repair and insurance obligations sit with the office lessees, and the town centre records very high crime levels which may affect operator risk and insurance costs. External condition is described as fair to good for its age but any purchaser should verify condition and current compliance.
This asset suits an investor seeking a core, long-lease retail holding in a prime station-adjacent location, or a buyer willing to explore longer-term change of use or lease restructuring subject to consents. Practical next steps are verifying the 2024 rent review position, service and repair responsibilities, and any planning constraints before pursuing vacancy or conversion options.
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