4-9 Hanover Buildings Southampton Hampshire SO14 1JW

4-9 Hanover Buildings
Southampton
Hampshire
SO14 1JW

Substantial Freehold Retail Investment

Tenants include HMV Music Ltd (sub-let to Laura Ashley), Blue Arrow Ltd and Newsquest Media (Southern) Ltd
Prominent retail position in a sought after city centre location
Established retail area close to Bargate Shopping Centre and West Quay Shopping Centre
Nearby occupiers include Britannia Building Society, Alliance & Leicester, Topshop, Boots the Chemist and Primark
6 Week Completion Period Available

Lot
33
Auction
26th May 2011
Rent
£258,250 per Annum Exclusive
Status
Sold
Price
£1,950,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On Instructions from Stockland

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Substantial Freehold Retail Investment

Tenants include HMV Music Ltd (sub-let to Laura Ashley), Blue Arrow Ltd and Newsquest Media (Southern) Ltd
Prominent retail position in a sought after city centre location
Established retail area close to Bargate Shopping Centre and West Quay Shopping Centre
Nearby occupiers include Britannia Building Society, Alliance & Leicester, Topshop, Boots the Chemist and Primark
6 Week Completion Period Available

Lot 33
Auction 26th May 2011
Rent £258,250 per Annum Exclusive
Status Sold
Price £1,950,000
Sector
High Street Retail
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On Instructions from Stockland

Property Information

Location

Miles: 19 miles north-west of Portsmouth, 30 miles north-east of Bournemouth
Roads: A3024, M27, M3 (Junction 14)
Rail: Southampton Central Railway Station
Air: Southampton International Airport

Situation

The property is situated in a prominent position on the northern side of Hanover Buildings, at its junction with Vincents Walk. The property benefits from a strategic position being some 125 metres from Bargate Shopping Centre and 300 metres from West Quay Shopping Centre. Other nearby occupiers include Britannia Building Society, Alliance & Leicester, Topshop, Boots the Chemist and Primark

Tenure

Freehold.

Location

Miles: 19 miles north-west of Portsmouth, 30 miles north-east of Bournemouth
Roads: A3024, M27, M3 (Junction 14)
Rail: Southampton Central Railway Station
Air: Southampton International Airport

Situation

Tenure

Freehold.

Description

The property, which forms part of a parade of shops, comprises four retail units with ancillary accommodation on first and second floors. The property benefits from a common yard to the rear of the property, accessed from Vincent's Walk.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is 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	Reviews
4 – Ground 4 – First 4 – Second	Retail Ancillary Ancillary	101.30 sq m 61.00 sq m 17.00 sq m	(1,090 sq ft) (657 sq ft) (183 sq ft)	NEWSQUEST MEDIA (SOUTHERN) LIMITED (Daily Echo) (1)	10 years from 24/06/2003	£44,500	24/06/2008
5 – Ground 5 – First 5 – Second	Retail/Ancillary Ancillary Ancillary	74.67 sq m 36.60 sq m 16.60 sq m	(804 sq ft) (394 sq ft) (179 sq ft)	BLUE ARROW LIMITED (Blue Arrow) (2)	10 years from 25/03/2008 (3)	£26,250	25/03/2013
6 – Ground 6 – First 6 – Second	Retail Ancillary Ancillary	79.82 sq m 73.71 sq m 8.66 sq m	(859 sq ft) (793 sq ft) (93 sq ft)	ESSENSUALS HOLDINGS LIMITED (Essensuals) (4) (5)	10 years from 17/09/2007 (6)	£27,500	17/09/2012
7-9 – Ground 7-9 – First 7-9 – Second	Retail Sales Sales/Ancillary	365.30 sq m 285.55 sq m 307.21 sq m	(3,932 sq ft) (3,074 sq ft) (3,307 sq ft)	HMV MUSIC LIMITED (sub-let to Laura Ashley) (7) (8)	25 years from 25/03/1989	£160,000	25/03/2009
Totals		1,427.42 sq m	(15,365 sq ft)			£258,250

(1) For the year ending 27th December 2009, Newsquest Media (Southern) Limited reported a turnover of £86,410,000, pre-tax profits of £13,001,000 and a net worth of £113,133,000. (Source: www.riskdisk.com 18/04/2011)
(2) For the year ending 31st December 2009, Blue Arrow Ltd reported a turnover of £297,906,000, pre-tax profits of £4,683,000 and a net worth of £6,959,000 (Source: www.riskdisk.com 18/04/2011)
(3) The tenant has an option to determine on 25th March 2013 on providing 6 months' prior written notice.
(4) Essensuals forms part of the Toni & Guy group and now has some 70 hair salons. For further information, please refer to www.essensuals.co.uk
(5) The tenant has sub-let the property to Essensuals (Southampton) Limited. The sublease is guaranteed.
(6) The tenant has an option to determine on 17th September 2012, on providing 6 months' prior written notice.
(7) For the year ending 24th April 2010, HMV Music Limited reported a turnover of £1,062,303,000, pre-tax profits of £53,301,000 and a net worth of £128,329,000.(Source: www.riskdisk.com 18/04/2011)
(8) The tenant has sub-let the property to Laura Ashley Limited. For the year ending 30th January 2010, Laura Ashley Limited reported a turnover of £262,278,000, pre-tax profits of £20,588,000 and a net worth of £65,996,000. (Source: www.riskdisk.com)