No longer on the market
This property is no longer on the market
MapRetail property (high street)
Sold STC
Retail property (high street)
625
Features and description
- Freehold Class E & residential investment with possible development opportunity.
- Prominent location on Shirley Road
- Ground floor shop let to long established retailer
- Self-contained flat let to charity.
- Rear garage possibly suitable for redevelopment
- Total rental income £26,100 pa
- Price £300,000 No VAT
A mid terrace shop and self-contained flat, both let on existing leases. To the rear is an unused and dilapidated garage which has formerly had Permitted Development consent for the creation of a one bedroomed flat. This is about to expire but there is still potential for the redevelopment of this area.
ACCOMMODATION
Ground Floor Shop
Internal width - 13’ 9
Net Sales area - 625 sq ft
Store rooms 185 sq ft
WC and small rear yard
First Floor
Not inspected at this time. We understand it comprises a living room, kitchen, bathroom and three bedrooms.
LEASE TERMS
The ground floor shop is let to two private individuals trading as Frontline, on a 10 year lease from 01/02/2017 on an internal repairing basis at a rent of £11,700 pa. Copy lease available on request, no VAT is payable. The 2022 tenant break clause wasn’t used and the 2022 rent review has not yet been instigated. The business has traded from the premises for 6 years and was originally established in Southampton in 1982.
The first floor flat is let to Wessmaps Housing Trust on an AST expiring 31 July 2023 at a rent of £14400 pa.
Total rent £26100 pa
PRICE
£300,000 for the freehold subject to the subsisting leases.
EPC – D 89 Shop and E39 Flat
LEGAL COSTS
Each party is expected to bear their own legal costs in any transaction.
VIEWINGS
Strictly by appointment with sole agents Trinity Rose Commercial – please contact Jeremy Braybrooke on[use Contact Agent Button] or [use Contact Agent Button]
The building occupies a prominent main road position in Shirley, one of Southampton’s principal suburbs, in the company of many other local retail, takeaway and restaurant businesses, and with on street car parking immediately outside the door.
ACCOMMODATION
Ground Floor Shop
Internal width - 13’ 9
Net Sales area - 625 sq ft
Store rooms 185 sq ft
WC and small rear yard
First Floor
Not inspected at this time. We understand it comprises a living room, kitchen, bathroom and three bedrooms.
LEASE TERMS
The ground floor shop is let to two private individuals trading as Frontline, on a 10 year lease from 01/02/2017 on an internal repairing basis at a rent of £11,700 pa. Copy lease available on request, no VAT is payable. The 2022 tenant break clause wasn’t used and the 2022 rent review has not yet been instigated. The business has traded from the premises for 6 years and was originally established in Southampton in 1982.
The first floor flat is let to Wessmaps Housing Trust on an AST expiring 31 July 2023 at a rent of £14400 pa.
Total rent £26100 pa
PRICE
£300,000 for the freehold subject to the subsisting leases.
EPC – D 89 Shop and E39 Flat
LEGAL COSTS
Each party is expected to bear their own legal costs in any transaction.
VIEWINGS
Strictly by appointment with sole agents Trinity Rose Commercial – please contact Jeremy Braybrooke on[use Contact Agent Button] or [use Contact Agent Button]
The building occupies a prominent main road position in Shirley, one of Southampton’s principal suburbs, in the company of many other local retail, takeaway and restaurant businesses, and with on street car parking immediately outside the door.