icons_size_white icons_size
The UK's leading real estate marketplace
For Sale£1,100,000.00

Units 1 & 2, The Old Hop Stores, Alton, GU34 1AU

Other, Other Property Types & Opportunities , 4275 Sq Ft
Property type: Other, Other Property Types & Opportunities
Tenure: For Sale Freehold
Size: 4275 Sq Ft
Price: £1,100,000.00
Location: Units 1 & 2, The Old Hop Stores, Draymans Way, Alton, GU34 1AU

Prominent town centre retail investment .



Location

Alton is a very popular and prosperous Hampshire market town and is the largest urban area within East Hants District Council. The town is located on the A31 which provides easy access to Guildford and Winchester. Alton railway station offers direct train services to London Waterloo, with a best journey time of 1 hr 8mins. The town lies approximately 29 miles north east of Southampton, 26 miles south of Reading, and 50 miles south west of Central London. The town has a population of just under 50,000 people within a 15 miles radius, rising to over 100,000 people within 20 minutes’ drive time. 44.6% of the 15-minute drive time catchment are within the top Acorn Group ‘Affluent Achievers’.



  • Prominent town centre retail investment 4,275 sq ft (420 sq m).
  • Adjacent to Sainsbury’s Superstore and main town centre car parks.
  • Let to Pets Corner UK Ltd and Ocean’s Eleven Fish & Chips.
  • Current users are as A1 retail and A3/A5.
  • Current income £63,700 p.a.x with potential to increase to £79,100 p.a.x following reviews in July 2019 and Jan 2020.
  • Freehold.
  • New build in 2014.
  • Offers are sought in the region of £1,100,000 (One Million one hundred thousand pounds), subject to contact and exclusive of VAT.
  • A purchase at this level would reflect an attractive under 5.5 %, with a reversionary yield of 6.81% (based on full ERV of £79,100 pax) and an equivalent yield of 6.63%.
  • This reflects a low capital value of £257 psf.
  • Private parking is provided on site, with unit 1 having 5 parking spaces outside the main entrance. Unit 2 has space for two staff parking spaces adjoining the NE elevation. There is large public car park adjacent as well as a car park on the adjoining Sainsburys superstore site.

    Let on a lease for a term of 15 years from 27th July 2014, subject to 5 yearly upward only rent reviews. Next review 27th July 2019. Held on an effective full repairing lease. 

    Unit 2; Let to Ocean's Eleven Fish & Chips.

    Let on a lease for a term of 20 years from 29th Sept 2015, subject to 5 yearly upwards only rent reviews. Next review 29th Sept 2020. Held on an effective full repairing lease. 

    Current income £63,700 p.a.x with potential to increase to £79,100 p.a.x following reviews in July 2019 and Jan 2020.

    We are seeking offers in the region of £1,100,000 (One million, one hundred thousand pounds) for the freehold interest, subject to contract and exclusive of purchaser’s costs (at 5.5 %.)

    A purchase at this level would reflect an attractive net initial yield of just under 5.5 %, with a reversionary yield of 6.81% (based on full ERV of £79,100 pax) and an equivalent yield of 6.63% This reflects an overall low capital value of £257 psf.

    close
    What do you think of our website?
    Complete our survey and
    you could win £1000
    Start here