34 / 36 High Street Cosham Hampshire PO6 3BZ

  • 34 / 36 High Street<br>Cosham<br>Hampshire<br>PO6 3BZ

34 / 36 High Street
Cosham
Hampshire
PO6 3BZ

Freehold Retail Investment

  • Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent pedestrianised town centre location
  • VAT-free Investment
  • Close to Tesco, a multi storey car park and opposite Costa
  • M&Co in occupation since 1982
  • Lot
    27
  • Auction
    11th July 2018
  • Rent
    £52,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £555,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co
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Freehold Retail Investment

  • Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
  • Prominent pedestrianised town centre location
  • VAT-free Investment
  • Close to Tesco, a multi storey car park and opposite Costa
  • M&Co in occupation since 1982
  • Lot 27
  • Auction 11th July 2018
  • Rent £52,000 per Annum Exclusive
  • Status Sold
  • Price £555,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co

Property Information

Location
Miles
3 miles north of Portsmouth, 15 miles east of Southampton, 73 miles south of London
Roads
M27, A27, A3, A3(M)
Rail
Cosham Railway Station
Air
Southampton Airport
Situation

Cosham is located 3 miles north of Portsmouth, 15 miles east of Southampton and 73 miles south of London. The town benefits from good road communications, being located close to the M27 and A27, with the A3 2 miles to the east. Cosham railway station provides services to London Waterloo. The property is located in the town centre on the pedestrianised High Street, near its junction with Wayte Street. There are a number of public car parks located close by. Occupiers close by include Costa, Subway, Superdrug, Lloyds, Greggs, Ladbrokes, Halifax, Thomas Cook and Tesco.

Tenure

Freehold.

Location
Miles
3 miles north of Portsmouth, 15 miles east of Southampton, 73 miles south of London
Roads
M27, A27, A3, A3(M)
Rail
Cosham Railway Station
Air
Southampton Airport
Situation

Cosham is located 3 miles north of Portsmouth, 15 miles east of Southampton and 73 miles south of London. The town benefits from good road communications, being located close to the M27 and A27, with the A3 2 miles to the east. Cosham railway station provides services to London Waterloo. The property is located in the town centre on the pedestrianised High Street, near its junction with Wayte Street. There are a number of public car parks located close by. Occupiers close by include Costa, Subway, Superdrug, Lloyds, Greggs, Ladbrokes, Halifax, Thomas Cook and Tesco.

Tenure

Freehold.

Description

The property comprises a ground floor shop together with first floor storage and staff accommodation. The property benefits from a rear yard to park two cars.

VAT

VAT is not 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 a ground floor shop together with first floor storage and staff accommodation. The property benefits from a rear yard to park two cars.

VAT

VAT is not 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

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
Ground
First
 Retail
Ancillary
469 sq m 124 sq m
(5,048 sq ft) (1,335 sq ft)
MACKAYS STORES LIMITED t/a M&Co (2) 10 years from completion on a full repairing and insuring lease subject to a schedule of condition (1) £52,000 2023
Total
593 sq m
(6,383 sq ft)
     £52,000  

1) Tenant’s option to determine in the fifth year.
(2) For the year ended 24th February 2017, Mackays Stores Limited reported a turnover of £165,611,000, pre-tax profits of £1,100,000 and a total net worth of £36,441,000 (Source: Experian Group 12/06/2018). Mackays Stores Limited is one of the largest privatelyowned fashion retailers in the UK. Since inception in the 1960s, M&Co now trades from over 300 stores nationwide with a further 22 stores overseas.

Contacts

Associate Auctioneers
Fawcett Mead 37/38 Margaret Street
London
W1G 0JF
Joe Baio 020 7182 7480 07807 182 7489joe@fawcettmead.co.uk
Seller's Solicitors
Keystone Law 48 Chancery Lane
London
WC2A 1JF
Stephen Kingsley 0203 319 3700stephen.kingsley@keystonelaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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