No longer on the market
This property is no longer on the market
MapRetail property (high street)
Retail property (high street)
1854
Features and description
- Mixed Retail & Residential Investment
- 3 Self Contained Flats
- Busy C Store Tenant
- Development Potential (STP) Reversionary Rent
A detached 2 storey property built approximatley 50 years ago of brick construction formed under a flat roof providing ground floor retail with 3 self contained flats above.
To the side of the property is a large parking area accommodating 4 garages.
Situated in a popular neighbouring residential area on the outskirts of Horndean on a busy route leading to the A3M and A3 London Road. The site is positioned immediately on the junction with Catherington Lane and Kings Mede.
Offer in excess of £600,000 for the Freehold subject to the following tenancies:-
Ground floor shop is let to Southern Co-operatives Ltd under an assignment to Denovo Retail Ltd for a term of 10 years from 1st July 2016 at a passing rent of £15,500 per annum exclusive.
The three flats are let on individual AST's collectively producing £19,440 per annum.
The total income amounts to £34,940 per annum equating to an intial yield of 5.8% gross
Legal Costs - Each party to bear their own legal costs incurred in the transaction.
VAT - To be confirmed
To the side of the property is a large parking area accommodating 4 garages.
Situated in a popular neighbouring residential area on the outskirts of Horndean on a busy route leading to the A3M and A3 London Road. The site is positioned immediately on the junction with Catherington Lane and Kings Mede.
Offer in excess of £600,000 for the Freehold subject to the following tenancies:-
Ground floor shop is let to Southern Co-operatives Ltd under an assignment to Denovo Retail Ltd for a term of 10 years from 1st July 2016 at a passing rent of £15,500 per annum exclusive.
The three flats are let on individual AST's collectively producing £19,440 per annum.
The total income amounts to £34,940 per annum equating to an intial yield of 5.8% gross
Legal Costs - Each party to bear their own legal costs incurred in the transaction.
VAT - To be confirmed
Property information from this agent
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.