This property is no longer on the market
Property
Property description & features
- Tenure: Freehold
Belvoir Commercial have been instructed to sell another substantial residential & commercial mix property on the High Street here in Andover. The upper floors have recently been converted into 4 residential flats. The freehold sale of the property consists of as follows:
2 x 2 Bedroom Flats
2 x 1 Bedroom Flats
1085 sq ft Commercial Retail Unit
Commercial
The location of the property sits in what is considered the 'sweet spot' of the high street and is presently let on a 15 year lease which commenced 2018.
The property shares its location with big brands such as HSBC, Lloyds, TSB, Santander, Boots, Dorothy Perkins, Costa & Top Shop etc.
Rental Income: £25,000pa + vat
Residential
The entrance to the flats on the first and second floor are accessed via a communal residential side access from the side of the building.
Market Value of the flats are as follows:
Flat 1 (2 bed): £895pcm
Flat 2 (1 bed): £825pcm
Flat 3 (2 bed): £895pcm
Flat 4 (1 bed): £825pcm
Total annual residential lettings income: £41,280
Combined
Total Annual Income: £66,280pa
Yield: Approx 7.36%
If you are interested in this property, please contact this office for more information.
PLEASE NOTE: The property is VAT elected and therefore will need to be added to any final sale price
ABOUT ANDOVER
Picturesque market town located in the affluent Test Valley area of Hampshire
£2.9m has been invested to extend and refurbish the bus station
Further improvements underway to the town and community as part of the Andover Vision 20 year plan
Strategic location adjacent to A303 and within easy reach of the M3 & M4
Mainline train station with London Waterloo 1hr away
Various car parks close by including a multi storey
Andover has a number of core brands on the High Street that include Ernest Jones, Costa Coffee, Poundland, Boots, Argos, TK Maxx etc.
Strong annual footfall of circa 7 million
Catchment ; there is an affluent shopper catchment of approx 150,000 people drawing from the surrounding wealthy villages including Stockbridge and The Wallops
Growing population ; there is substantial housing expansion underway with an additional 8250 dwellings to be built by 2029 with 6516 of those earmarked for Andover. There are recent communications and existing commitments at Picket Twenty & Augusta Park.
Low unemployment; the town benefits from very low unemployment compared to the national average.
Loyal customers ; people living in the core catchment area visit the town centre more than 70 times a year (rct 2010)
EPC rating: C. Council tax band: X, Tenure: Freehold,
Places of interest
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*DISCLAIMER
Property reference P963. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Belvoir - Andover.
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Broadband availability and predicted speed: obtained from Ofcom on January 28, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
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Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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