Lyndum House 12-14 High Street Petersfield Hampshire GU32 3JG

Lyndum House
12-14 High Street
Petersfield
Hampshire
GU32 3JG

Attractive and High Yielding Mixed-Use Investment

Period building comprising two shops, a play café and various office suites
Office tenants an Accountancy practice
Grade II Listed building totalling 6,040 sq ft
Opportunity to enhance income by letting the vacant shop & office suites
Prime town centre location opposite Marks & Spencer Simply Food and adjacent to Boots the Chemist
Potential to convert to Residential (subject to leases and consents)
All tenancies outside Security of Tenure provisions of Landlord & Tenant Act 1954
In same ownership for circa. 75 years

Lot
8
Auction
16th February 2023
Rent
£65,885 per Annum
(1) plus vacant shop and some office suites
Status
Sold Post
Price
Auction Venue
Live Streamed Auction

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Attractive and High Yielding Mixed-Use Investment

Period building comprising two shops, a play café and various office suites
Office tenants an Accountancy practice
Grade II Listed building totalling 6,040 sq ft
Opportunity to enhance income by letting the vacant shop & office suites
Prime town centre location opposite Marks & Spencer Simply Food and adjacent to Boots the Chemist
Potential to convert to Residential (subject to leases and consents)
All tenancies outside Security of Tenure provisions of Landlord & Tenant Act 1954
In same ownership for circa. 75 years

Lot 8
Auction 16th February 2023
Rent £65,885 per Annum (1) plus vacant shop and some office suites
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 18 miles north of Portsmouth, 57 miles south-west of London
Roads: A3, A23 and A272
Rail: Petersfield Station (London Waterloo 63 minutes)
Air: London Gatwick Airport (34 miles), London Heathrow Airport (38 miles)

Situation

Petersfield is an affluent and historic market town in the heart of the South Downs National Park. The property is situated in a central position on High Street, a short distance from The Square and Rams Walk Shopping Centre. Nearby occupiers include Marks & Spencer Simply Food, Waitrose, Boots, JD Wetherspoon and Caffè Nero.

Tenure

Freehold.

Location

Miles: 18 miles north of Portsmouth, 57 miles south-west of London
Roads: A3, A23 and A272
Rail: Petersfield Station (London Waterloo 63 minutes)
Air: London Gatwick Airport (34 miles), London Heathrow Airport (38 miles)

Situation

Tenure

Freehold.

Description

The property comprises two shops and a play café on the ground floor and various office suites arranged on the part ground, first and second floors.

VAT

VAT is applicable to this lot.

EPC

See Legal Pack

Description

The property comprises two shops and a play café on the ground floor and various office suites arranged on the part ground, first and second floors.

VAT

VAT is applicable to this lot.

EPC

See Legal Pack

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a. (1)
Ground/Basement	Retail/Ancillary	65.40	(704)	S. DURRA (t/a The Kingsman Barber) (2)	3 years from 01/06/2022	£16,000
Ground	Retail/Ancillary	116.96	(1,259)	L. J. GRAHAM (t/a Little Leaf Café) (3)	5 years from 28/06/2021 (3)	£18,000
Ground/Basement	Retail/Ancillary	78.87	(849)	VACANT (4)	-	- (4)
Ground	Office	39.11	(421)	SUPAFRANK LTD (t/a Supafrank) (5)	Lease expired 28/09/2021 (Holding Over)	£6,000
First	Office (Room 14)	29.26	(315)	CONNECTIVE SOLUTIONS LIMITED (6)	3 years from 01/02/2023 (6)	£6,000 (6)
First	Office (Rooms 16, 17, 18 and 22)	62.25	(670)	PREMIER UK BUSINESS LLP (t/a Premier UK Business Petersfield) (7)	3 years from 24/06/2022 (7)	£16,885
First	Office (Room 15)	13.93	(150)	S FRASER (t/a Frasers Online) (8)	3 years from 02/03/2020 (9)	£3,000
First	Various Suites (Suites 1-5, 19, 21 and 21b)	102.29	(1,100)	VACANT	-	-
Second	Office	53.14	(572)	VACANT	-	-
Total		561.12	(6,040)			£65,885

(1) Please note that the office occupiers pay an all inclusive rent to include service charge, insurance, heating and lighting, but exclusive of business rates. Please note that all tenancies are drawn outside the Security of Tenure provisions of the Landlord & Tenant Act 1954.
(2) www.kinsmanbarbershop.com - The lease is subject to a tenant only option to determine on 01/06/2024. A rent deposit of £4,000 + VAT is held by the landlord.
(3) www.littleleafplaycafe.co.uk - The lease is subject to a tenant only option to determine on 21/06/2024. A rent deposit of £6,750 + VAT is held by the landlord.
(4) Previously let in November 2020 at £16,000 pa
(5) www.supafrank.com - a Design Agency
(6) Room 14 is under offer to let with the letting to Connective Solutions Limited close to completion. The lease will be subject to a tenant only option to determine on 01/02/2025. A rent deposit of £1,500 + VAT will be held by the landlord.
(7) www.premierukbusiness.com - a firm of Chartered Accountants. The lease is subject to a tenant only option to determine on 25/12/2023. A rent deposit of £3,517.70 + VAT is held by the landlord.
(8) A rent deposit of £750 + VAT is held by the landlord.
(9) New 3 year lease agreed, but not yet documented at new rent of £3,300 per annum.

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.