Two Retail Units in prominent town centre location
Located in popular market town close to Fareham Shopping Centre
Nearby occupiers include Ladbrokes, Dominos, Cash Converters and Pizza Hut
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 58
Auction 7th July 2016
Rent £37,010 per Annum Exclusive
Status Sold
Price £395,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
6 miles north-west of Portsmouth 12 miles south-east of Southampton
Roads
M27 (Junction 11), A27, A32
Rail
Fareham Rail
Air
Southampton Airport, Bournemouth International Airport
Situation
Fareham is a popular market town located between Portsmouth and Southampton. The property is situated in a prominent location on the northern side of West Street the towns prime pedestrianised retailing thoroughfare which houses Fareham Shopping Centre to the east. Other nearby occupiers include Ladbrokes, Dominoes, Cash Converters and Pizza Hut.
Tenure
Freehold.
Location
Miles
6 miles north-west of Portsmouth 12 miles south-east of Southampton
Roads
M27 (Junction 11), A27, A32
Rail
Fareham Rail
Air
Southampton Airport, Bournemouth International Airport
Situation
Fareham is a popular market town located between Portsmouth and Southampton. The property is situated in a prominent location on the northern side of West Street the towns prime pedestrianised retailing thoroughfare which houses Fareham Shopping Centre to the east. Other nearby occupiers include Ladbrokes, Dominoes, Cash Converters and Pizza Hut.
Tenure
Freehold.
Description
The property comprises two retail units with residential accommodation on uppers which have been let on a long leases.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises two retail units with residential accommodation on uppers which have been let on a long leases.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
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)
Unit 1 175/177
Ground
Retail/Ancillary
244.98 sq m
(2,637 sq ft)
ROSSI HAIR & BEAUTY LIMITED (1)
10 years from 15/04/2016 until 14/04/2026 (2)
£17,000
15/04/2021
Unit 2 175/177
Ground
Retail
170.94 sq m
(1,840 sq ft)
INDIVIDUAL t/a South Coast Domestic Appliances
5 years from 23/10/2015
£20,000
(22/10/2020)
175-177
First Second
Residential Residential
Not Measured Not Measured
PORTSDOWN HOUSE MANAGEMENT COMPANY LTD
127 years from 20/11/2003 until 19/11/2130
£10
Total
415.92 sq m
(4,477 sq ft)
£37,010
(1) The tenant is currently fitting out the unit. (2) The lease provides a tenant’s option to determine on 15/04/2021.
Contacts
Seller's Solicitors
CMS Cameron McKenna Nabarro Olswang LLP 1 South Quay, Victoria Quays Sheffield S2 5SY
