Retail property (high street) for sale
Property description & features
- Tenure: Freehold
- OIEO: £925,000
- Gross Initial Yield: 8.45%
- Rental Income: £78,180 p.a.
- Property not elected for VAT
- Comprises 1 x Retail Shop, 1 x 2-Bed and 5 x Studio Flats
- Total retail area: 45 sq m (484 sq ft)
- Total residential area: 152 sq m (1,636 sq ft)
- Excellent transportation links to Southampton City Centre via bus.
- Nearby occupiers include McDonalds, Halifax, Lidl, The Gym Group, Pharmacy, Barbers and Restaurants, amongst others.
RATEABLE VALUE
The ground floor retail unit has a rateable value of £7,100 as per 1st April 2023.
EPC RATING
Current EPCs are in place for all units and further details of the assessments are available on request
LEGAL COSTS AND VAT
Each party is expected to bear their own legal costs in this transaction. We understand that this property is not elected for VAT.
TENURE
We are instructed to seek offers in excess of £925,000 for the freehold interest subject to the subsisting leases, equating to an approximate gross yield of 8.45%.
VIEWINGS
Strictly by appointment with whom all negotiations must be conducted. Please contact Brett Colman at Trinity Rose Commercial on[use Contact Agent Button] or [use Contact Agent Button]
The property is prominently situated on Shirley Road in central Southampton, in a densely populated residential location with a large number of well-established retailers and commercial occupiers, approximately 2 miles from Southampton City Centre. Businesses include food stores, cafes, restaurants, chemist, hairdresser and butcher. Occupiers such as McDonalds, Peter Cooper, Lidl, Easygym and Tesco are all nearby.
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Property reference COM230092. 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 Trinity Rose Commercial - Hampshire.
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Broadband availability and predicted speed: obtained from Ofcom on January 25, 2022
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Mobile phone signal availability and predicted strength: obtained from Ofcom on March 24, 2022
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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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