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For Sale£585,000.00

10, Salisbury Street, Fordingbridge, SP6 1AF

Retail, General Retail, Retail - High Street , 2900 Sq Ft
Property type: Retail, General Retail, Retail - High Street
Tenure: Investment Opportunity, For Sale Freehold
Size: 2900 Sq Ft
Price: £585,000.00
Location: 10 Salisbury Street, SP6 1AF
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 T & S Stores plc, a subsidiary of 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 £585,000 plus VAT representing a
net initial yield of 5.9%
EPC Under preparation
VIEWING
All viewings and further information through the sole agents -
Osmond Brookes 023 8000 2020
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