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
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.
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.
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