Comprises a Prominent shop and 2 x 1 bedroom flats
Retail let to Greggs plc t/a Greggs Outlet
Situated in a Busy Neighbour Retail Parade
Nearby occupiers include, Ladbrokes, Londis and Spar Supermarket and Halfords Auto Centre
Lot 36
Auction 27th March 2025
Rent £27,680 per Annum Exclusive
Status Available
Guide* £250,000
Sector Retail, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
14 miles south-west of Winchester, 20 miles north-west of Portsmouth, 77 miles south-west of London
Roads
A33, M3, M27
Rail
Millbrook Rail
Air
Southampton International Airport
Situation
The property is located on the corner of Millbrook Road West and King George's Avenue, approximately 2 miles west of Southampton City Centre. The property is prominently situated at the end of a busy retail parade fronting the busy Millbrook Road West (A33),the dual carriageway. Other occupiers within the parade include Spar, Ladbrokes. Pizza GoGo and an eclectic mix of local traders. Halford Auto Centre is also close by.
Tenure
Freehold.
Location
Miles
14 miles south-west of Winchester, 20 miles north-west of Portsmouth, 77 miles south-west of London
Roads
A33, M3, M27
Rail
Millbrook Rail
Air
Southampton International Airport
Situation
The property is located on the corner of Millbrook Road West and King George's Avenue, approximately 2 miles west of Southampton City Centre. The property is prominently situated at the end of a busy retail parade fronting the busy Millbrook Road West (A33),the dual carriageway. Other occupiers within the parade include Spar, Ladbrokes. Pizza GoGo and an eclectic mix of local traders. Halford Auto Centre is also close by.
Tenure
Freehold.
Description
The property comprises a ground floor shop unit and 2 x self contained 1 bedroom flats. the flats can be accessed from the side of the property on King George's Avenue.
VAT
VAT is applicable to this lot.
EPC
D-E
Description
The property comprises a ground floor shop unit and 2 x self contained 1 bedroom flats. the flats can be accessed from the side of the property on King George's Avenue.
VAT
VAT is applicable to this lot.
EPC
D-E
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground First
Retail Ancillary
134.10 18.40 (1)
1443 198 (1)
GREGGS PLC T/A GREGGS OUTLET (2)
5 years from 27/06/2022
£17,000(3)
27/06/2025
First
1 Bedroom Residential Flat
-
-
INDIVIDUAL
Assured Shorthold Tenancy - 12 months from 01/10/2024
£5,040
-
Second
1 Bedroom Residential Flat
-
-
INDIVIDUAL
Assured Shorthold Tenancy - 12 months from 01/07/2024
£5,640
-
Total Approximate Commercial Floor Area
152.50
1641
£27,680
(1) The floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/10252644000) (2) For the year ending 30th December 2023 Greggs plc reported Revenue of £1,809,600 000, Pre-Tax profits of £167,700,000 and Net Assets of £530,900,000 (Source: Greggs plc Annual Report and Accounts 2023 as published at Companies House on 20th February 2025) (3) As to the Lease of the retail unit in favour of Greggs PLC, the lease provides for the rent to be paid monthly
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.
