Property

INVESTMENT OPPORTUNITY - BUSINESS UNAFFECTED. Overall rental yield of 8.5%. A rare chance to acquire the Freehold of a prominent retail business rental income in central Lymington. The property comprises a corner retail unit, offices and stores to a total of 3,044 sq ft (283 sq m) which is currently let to a prestigious home interiors company. Also included are the freeholds of four further properties with leaseholders in place on 999 year leases.

The properties are situated opposite St Thomas's church on Lymington High Street with access to four of the properties from Church Lane which lies adjacent. The High Street hosts a weekly Saturday market and the property is positioned in an exceptionally picturescue position opposite St Thomas' Church. All the town's facilities are on the doorstep with a wide range of independent shops, cafes, pubs, restaurant and boutiques within easy reach. There is ample recreational space at Woodside Park a short distance away with the town's renowned sailing clubs and marinas also within walking distance. Lymington has a rail service to Brockenhurst twice an hour which connects with direct trains to the capital.

The Freehold of this charming and well maintained period building forms a small enclave on a particularly attractive corner plot on Lymington's historic High Street. Lying opposite St Thomas' church and flanked by other Listed Georgian buildings the main facade of numbers 60, 61 & 62 High Street form a classic period building with a large retail establishment extending to 3,434 sq ft (319 sq m) which retains a great deal of the character of the period yet provides the framework for a practical and inviting shopping experience. The current retail area is divided into several rooms of varying sizes and is currently occupied by a long established and well known home interiors and design company. The shop's name is a byword locally for a specific sense of relaxed style and a subtly luxurious home environment. The premises and retail business are often used as a local landmark when describing a location on the High Street and as such are firm fixtures of Lymington's street scene.

This established character has been further enhanced by the business's signing of a 10 year lease in September 2022 committing to a rent of £65,000 per year.

In addition to the ground floor of numbers 60, 61 & 62, the business also occupies the first and second floors of Number 60 which are currently used as offices and a design studio. There is also a small basement below the property.

Also included are the adjacent freeholds of 1a Church Lane - a three bedroom maisonette apartment, 1 Church Court - a two bedroom maisonette apartment, 2 Church Court - an attached 1 bedroom house and 3 Church Court - a detached house with garden.

Lease agreements

All leasehold agreements convey responsibility for maintenance and upkeep to the leaseholders. An independent management company, whose costs are paid by the leaseholders, oversees any required work with each leaseholder contributing a previously agreed percentage of the overall cost. Buildings insurance is organised by the management company and the cost covered by the leaseholders collectively. 3 Church Court's leaseholder is solely responsible for maintenance and is not managed by the management company.

Included in the Freehold is an outdoor paved alleyway providing access to Numbers 1, 2 & 3 Church Court.

From our office on Lymington High Street, turn right and pass the church on your right hand side. The properties will be found opposite the church on the corner of High Street and Church Lane.