Freehold Retail and Residential Investment
Freehold Retail and Residential Investment
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.
Freehold.
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.
Freehold.
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 is applicable to this lot.
D-E
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 is applicable to this lot.
D-E
| 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.
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