55/59 High Street Gosport Hampshire PO12 1DR

55/59 High Street
Gosport
Hampshire
PO12 1DR

Freehold Retail Parade Investment

Three ground floor shops let to Card Factory, VPZ and tenant to be trading as Koi Hut
New 15 year lease on letting to Koi Hut (subject to options)
Prominent Retail Parade on High Street Location
Nearby occupiers include Poundland, Superdrug, The Works, New Look and Vodafone

Lot
30
Auction
4th November 2021
Rent
£46,250 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Freehold Retail Parade Investment

Three ground floor shops let to Card Factory, VPZ and tenant to be trading as Koi Hut
New 15 year lease on letting to Koi Hut (subject to options)
Prominent Retail Parade on High Street Location
Nearby occupiers include Poundland, Superdrug, The Works, New Look and Vodafone

Lot 30
Auction 4th November 2021
Rent £46,250 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 3 miles west of Portsmouth; 15 miles south of Southampton; 82 miles south of London
Roads: A3 (M), M27, A32
Rail: Portsmouth Harbour Railway Station
Air: Southampton Airport

Situation

The Gosport ferry provides quick access to Portsmouth Harbour Railway Station (regular services to London Waterloo) as well as Gun Wharf Quays Shopping Centre and Historic Naval Shipyards. The property is located in Gosport Town Centre on the pedestrianised High Street (which holds an active street market). There are a number of public car parks close by. Nearby occupiers include Poundland, Superdrug, The Works, New Look and Vodafone.

Tenure

Freehold.

Location

Miles: 3 miles west of Portsmouth; 15 miles south of Southampton; 82 miles south of London
Roads: A3 (M), M27, A32
Rail: Portsmouth Harbour Railway Station
Air: Southampton Airport

Situation

Tenure

Freehold.

Description

The property comprises three ground floor retail units with the first and second floors sold off on a 999 year lease.
The footpath adjacent 55 High Street, is not included in the sale.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Various. See legal pack at www.acuitus.co.uk.

Description

The property comprises three ground floor retail units with the first and second floors sold off on a 999 year lease.
The footpath adjacent 55 High Street, is not included in the sale.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Various. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Address	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
55 High Street	Ground	Retail/Ancillary	175.95 sq m	(1,894 sq ft)	SPORTSWIFT LIMITED t/a Card Factory (1)	5 years from 29/09/2019	£18,750	-
57 High Street	Ground	Retail	141.77 sq m	(1,526 sq ft)	M. E. EAMES to t/a Koi Hut	15 years from 14/09/2021 (2)	£12,500	14/09/2026 and five yearly thereafter
59 High Street	Ground	Retail	106.55 sq m	(1,147 sq ft)	CCHG LIMITED t/a VPZ (3)	10 years from 21/02/2020 (4)	£15,000	20/02/2025
55-59 High Street	First & Second	Residential	-	(-)	BLUEBIRD COURT LIMITED	999 years from 10/06/2019 until 09/06/3018	Peppercorn	-
Total			424.27 sq m	(4,567 sq ft)			£46,250

(1) For the year ending 31/01/2020, Sportswift Limited reported a turnover of £433,400,000, pre-tax profits of £67,672,000 and total shareholders equity of £53,736,000 (Source: NorthRow 28/09/2021).
(2) The lease provides for a tenant option to determine in September 2026 and 2031. Under the terms of the lease, the tenant benefits from six months rent free. The Vendor has agreed to top up the completion monies so that the property produces £12,500 pa from completion of the sale until the end of the concessionary period. See legal pack for full details. A rent deposit equivalent to 4 months rent is held by the Vendor.
(3) For the year ending 31/12/2020, CCHG Limited reported a turnover of £25,911,415, pre-tax profits of £19,337 and total shareholders equity of £13,990,191 (Source: NorthRow 28/09/2021).
(4) The lease provides for a tenant option to determine in 2023 and 2025.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.