Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
19 miles south-west of Southampton, 11 miles east of Bournemouth, 28 miles south of Salisbury
Roads
A337, A35, A338
Rail
New Milton Railway Station
Air
Southampton Airport
Situation
New Milton is an affluent town immediately south of the edge of the New Forest National Park. The property is situated in a prominent corner location on the eastern side of Old Milton Road, at its junction with Crossmead Avenue in a predominantly residential area. The property benefits from a public car park to the rear of the property and on-street parking at the front.
Tenure
Virtual Freehold. Held for a term of 999 years from January 2016.
Location
Miles
19 miles south-west of Southampton, 11 miles east of Bournemouth, 28 miles south of Salisbury
Roads
A337, A35, A338
Rail
New Milton Railway Station
Air
Southampton Airport
Situation
New Milton is an affluent town immediately south of the edge of the New Forest National Park. The property is situated in a prominent corner location on the eastern side of Old Milton Road, at its junction with Crossmead Avenue in a predominantly residential area. The property benefits from a public car park to the rear of the property and on-street parking at the front.
Tenure
Virtual Freehold. Held for a term of 999 years from January 2016.
Description
The property comprises ground floor retail accommodation forming
part of a larger building.
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 not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises ground floor retail accommodation forming
part of a larger building.
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 not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground
Retail
318.30 sq m
(3,426 sq ft)
ONE STOP CONVENIENCE STORES LIMITED (t/a Tesco Express) (1)
20 years from 24/06/2002 on a full repairing and insuring lease
£42,500
24/06/2017 (23/06/2022)
Totals
318.30 sq m
(3,426 sq ft)
£42,500
(1) For the year ending 22nd February 2014, One Stop Convenience Stores Limited reported a total net worth of £49,906,000. (Source: www.riskdisk.com 04/11/2015). One Stop Convenience Stores Limited is a subsidiary of Tesco plc, one of the world’s largest retailers with over 500,000 employees worldwide and over 3,500 UK stores (www.tescoplc.com).