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Commercial properties for sale in Fordingbridge, Hampshire

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For Sale£595,000.00
LOCATION & DESCRIPTION

Fordingbridge is an attractive market town located on the edge of the New Forest about 5 miles north of Ringwood and 10 miles south of Salisbury. This property is located in what is generally considered to be the prime retailing position in the centre of the town close to the junction of Bridge Street and High St, and access to the public carpark is opposite the property, which is trading as a Tesco Express Convenience Store.

The property comprises a large ground floor retail unit being part of a larger block laid out over three floors with self-contained flats on the upper floors that have been sold off to private owners. The property was built in 2000 and is accessed directly from Salisbury Street and benefits from a wide frontage and a smaller return frontage to a residential driveway.

Internally the shop has been fitted out in standard Tesco style with a suspended ceiling, inset strip lighting and ceiling mounted air conditioning units. The rear storage area has blockwork walls and a fire escape to the rear. Staff restroom and WCs are also within this area.

ACCOMMODATION

Ground floor retail unit

Total Net Area 2900 sq ft


TERMS

The premises are let to Tesco Stores Ltd and trading as Tesco, on a 25 year FRI lease from 6th October 2000, with 5 yearly upward only rent reviews, at a passing rent of £35,600 pa exclusive, representing £12.25 psf overall.

The seven flats above have been sold on 125 year leases from 1st January 2000 with a fixed ground rent of £50 pa per flat

Total income therefore £35,950 pa. VAT is applicable

PRICE

The freehold is for sale subject to the subsisting leases at a price of £595,000 plus VAT representing a net initial yield of 5.75%.

It is anticipated that the sale can be by way of a TOGC to a qualifying VAT registered purchaser (but not a SIPP due to the residential element)

EPC C - 64
10, Salisbury Street, Fordingbridge, SP6 1AF
Type: Retail, General Retail, Retail - High Street, Residential
Location: 10 Salisbury Street, SP6 1AF
Size: 2900 Sq Ft
Images: 1
Brochures: 1
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For Sale£270,000.00
LOCATION & DESCRIPTION

Fordingbridge is an attractive market town located on the edge of the New Forest about 5 miles north of Ringwood and 10 miles south of Salisbury. This property is located in what is generally considered to be the prime retailing position in the centre of the town close to the junction of Bridge Street and High St, and access to the public carpark is opposite the property, which is trading as a Fox & Sons Estate Agents

The property comprises a ground floor A2 office/A1 retail unit being part of a larger block laid out over three floors with self-contained flats on the upper floors that have been sold off to private owners. The premises were built in 2000 and the ground floor is accessed directly from Salisbury Street and benefits from a wide frontage.

Internally the shop has been given a modern feel with a suspended ceiling, inset strip lighting and ceiling mounted air conditioning units.

ACCOMMODATION

Ground floor retail/office unit

Total Net Area 1488 sq ft


TERMS

The premises are let to Sequence (UK) Ltd, on assignment from Royal & Sun Alliance Insurance plc on a 25 year FRI lease from 15th December 2000, with 5 yearly upward only rent reviews, at a passing rent of £17,000 pa exclusive. There are therefore, 6 years remaining without a break clause.

The five flats above have been sold on 125 year leases from 1st January 2000 with a fixed ground rent of £50 pa per flat

Total income therefore £17,250 pa. VAT is applicable

PRICE

The freehold is for sale subject to the subsisting leases at a price of £270,000 plus VAT representing a net initial yield of 6.11%.

It is anticipated that the sale can be by way of a TOGC to a qualifying VAT registered purchaser (but not a SIPP due to the residential element)

EPC: C - 68
INVESTMENT OPPORTUNITY FORDINGBRIDGE
Type: Retail, Office, General Retail, Retail - High Street, Residential, Offices
Location: 8 Salisbury Street, SP6 1AF
Size: 1488 Sq Ft
Images: 1
Brochures: 1
View Property
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