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Area statsRetail property (high street) for sale
187A West Street, Fareham, PO16 0EN
Under offer
Retail property (high street)
968
Features and description
- Good Local Covenant
- Lease until 22nd September 2029
- Prominent Position
- Future Development Potential
- Attractive Gross Yield of just over 7%
The property comprises a ground floor shop currently occupied by a local beautician business trading as The Lounge. The premises comprise a retail area, consulting rooms and rear circulation space, kitchen and rear lobby. The property also benefits from having 4 parking spaces towards the rear.
The property is located on the northern side of West Street, Fareham between Trinity Street to the east and Grove Road to the west. The property is surrounded by local occupiers and close by is Domino's Pizza, Helping Hands and a short distance from Aldi which is situated to the west.
Fareham is situated off junction 11 of the M27 with Portsmouth approximately 10 miles to the east and Southampton approximately 20 miles to the west.
The property is available to purchase the virtual freehold with the benefit of the current tenancy at a guide price of £175,000 exclusive. The virtual freehold is for 999 year Lease from 5th January 2011 comes with a Share in West Street PMC Ltd (the Freehold owning management company). The sale is subject to a 10 year lease from 23rd September 2019 at £12,000 pa with a tenant only break option and rent review at 5th year of the term, the lease is within the Landlord and Tenant Act 1954.
* Fitted as a Hair & Beauty Salon
* Suspended Ceiling
* Cat II Lighting
* Recessed Air Conditioning
* Tiled Floors
* Kitchen Area
* 4 Parking Spaces
Service Charge & Building Insurance to be confirmed.
Legal Costs - Each party to bear their own costs incurred in the transaction.
VAT - Unless otherwise specified all costs and prices are exclusive of VAT.
The property is located on the northern side of West Street, Fareham between Trinity Street to the east and Grove Road to the west. The property is surrounded by local occupiers and close by is Domino's Pizza, Helping Hands and a short distance from Aldi which is situated to the west.
Fareham is situated off junction 11 of the M27 with Portsmouth approximately 10 miles to the east and Southampton approximately 20 miles to the west.
The property is available to purchase the virtual freehold with the benefit of the current tenancy at a guide price of £175,000 exclusive. The virtual freehold is for 999 year Lease from 5th January 2011 comes with a Share in West Street PMC Ltd (the Freehold owning management company). The sale is subject to a 10 year lease from 23rd September 2019 at £12,000 pa with a tenant only break option and rent review at 5th year of the term, the lease is within the Landlord and Tenant Act 1954.
* Fitted as a Hair & Beauty Salon
* Suspended Ceiling
* Cat II Lighting
* Recessed Air Conditioning
* Tiled Floors
* Kitchen Area
* 4 Parking Spaces
Service Charge & Building Insurance to be confirmed.
Legal Costs - Each party to bear their own costs incurred in the transaction.
VAT - Unless otherwise specified all costs and prices are exclusive of VAT.
Property information from this agent
Area statistics
Crime score
High crime
7/10
About this agent
Holloway Iliffe & Mitchell - Portsmouth
10, Acorn Business Park
Portsmouth, Hampshire
PO6 3TH
023 9211 0073Holloway Iliffe & Mitchell is an independent firm of chartered surveyors and commercial & industrial property consultants, having considerable market knowledge and awareness in all aspects of the commercial market along the south coast, particularly the M27 corridor and surrounding conurbations. The three directors each have specialised knowledge within the professional, agency and development sectors. This includes management, to incorporate industrial/warehousing, offices, retail, investments and development.