Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
75 miles south-west of London
20 miles north-west of Portsmouth
12 miles south-west of Winchester
Roads
M3, M27, A34, A36, A27
Rail
Southampton Central Railway Station
Air
Southampton International Airport
Situation
The property is situated on the southern side of East Street close to High Street in the City Centre. East Street is an established retail pitch which links West Quay and High Street to the west with Debenhams to the east. The East Street Shopping Centre is to be demolished and replaced
with a new Morrisons Supermarket while East Street will be restored to an open pedestrian link between St Mary’s and the City Centre. For further information, please see http://www.eaststreet.info/index.html
Tenure
Freehold.
Location
Miles
75 miles south-west of London
20 miles north-west of Portsmouth
12 miles south-west of Winchester
Roads
M3, M27, A34, A36, A27
Rail
Southampton Central Railway Station
Air
Southampton International Airport
Situation
The property is situated on the southern side of East Street close to High Street in the City Centre. East Street is an established retail pitch which links West Quay and High Street to the west with Debenhams to the east. The East Street Shopping Centre is to be demolished and replaced
with a new Morrisons Supermarket while East Street will be restored to an open pedestrian link between St Mary’s and the City Centre. For further information, please see http://www.eaststreet.info/index.html
Tenure
Freehold.
Description
The property comprises a parade of four retail units with four self contained residential flats above accessed from the rear of the property. The property benefits from 10 car parking spaces to the rear.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a parade of four retail units with four self contained residential flats above accessed from the rear of the property. The property benefits from 10 car parking spaces to the rear.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x.
Review/(Reversion)
104A
Ground Basement 1 Car Parking Space
Retail/Ancillary Storage
57.60 sq m 63.17 sq m
(620 sq ft) (680 sq ft)
THE GLASS LADY LIMITED
9 years and 23 days from 11/10/2011 (1)
£22,737.50
25/03/2016 (02/11/2020)
105
Ground Basement 1 Car Parking Space
Retail/Ancillary Storage
30.94 sq m 32.70 sq m
(333 sq ft) (352 sq ft)
MR CANH LE (t/a Angel Nails)
8 years from 08/09/2012 (2)
£15,330
08/09/2015 (07/09/2020)
106
Ground Basement 1 Car Parking Space
Retail/Ancillary Storage
30.00 sq m 32.70 sq m
(382 sq ft) (352 sq ft)
VACANT (3)
106A
Ground First 2 Car Parking Spaces
Retail Office
52.95 sq m 51.10 sq m
(570 sq ft) (550 sq ft)
ANGLIAN WINDOWS LIMITED (4)
5 years from 29/09/2012 (5)
£24,000 (6)
(28/09/2017)
First – Flat 1 1 Car Parking Space
Residential
2 Bedroom Flat
INDIVIDUAL
Under offer to commence on 19/05/2015 for 12 months
£6,780 (7)
First – Flat 2 1 Car Parking Space
Residential
2 Bedroom Flat
INDIVIDUAL
Let on an AST from 24/04/2014
£8,220 (7)
(23/10/2015)
First – Flat 3 1 Car Parking Space
Residential
2 Bedroom Flat
INDIVIDUAL
Let on an AST from 15/02/2009
£6,300 (7)
Holding Over
First – Flat 4 1 Car Parking Space
Residential
2 Bedroom Flat
INDIVIDUAL
Let on an AST from 07/04/2015
£9,000 (7)
(07/02/2016)
Totals
351.16 sq m
(3,839 sq ft)
£92,367.50 p.a.x.
(1) The business has been in occupation since 2003. (2) The business has been in occupation since 2006. (3) The property is currently being marketed by Myddleton & Major quoting a rent of £15,750 p.a. (4) For the year ending 29/03/2014, Anglian Windows Limited reported a turnover of £229,154,000, pre-tax profits of £10,739,000 and a total net worth of £65,477,000. (Source: www.riskdisk.com 31/03/2015) (5) The business has been in occupation since 2005. (6) The tenant has not exercised the option to break on 29th September 2015 and will therefore benefit from a rent free period from 29th September 2015 to 28th December 2015. The seller has agreed to adjust the completion monies to cover the loss of rent during this period. (7) The rent for the residential flats has been annualised.
Contacts
Seller's Solicitors
Cripps LLP Wallside House, 12 Mount Ephraim Road Tunbridge Wells Kent TN1 1EG
