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Under OfferFor sale: £500,000.00

80, Market Street, Eastleigh, SO50 5RE

Retail , 3151 Sq Ft
Property type: Retail
Tenure: Investment Opportunity, Under Offer, For Sale Freehold
Size: 3151 Sq Ft
Price: £500,000.00
Location: 80 Market Street, SO50 5RE
LOCATION & DESCRIPTION
Eastleigh is a thriving town about 5 miles to the north of Southampton, with excellent road, rail and air
links to the rest of England & the continent. As a result it has built an enviable reputation as a
distribution and manufacturing centre.
The retail centre of Market Street and the more secondary High Street is supplemented by The Swan
Shopping Centre and this property occupies a prime position in Market Street adjacent to Tui, Savers,
Specsavers, EWM, Three Store and Subway. It comprises a terraced 2 storey building of mainly brick
elevations beneath a pitched slate roof with an extensive modern, brick extension to the rear.
ACCOMMODATION
Internal Width 21’ 6”
Shop depth 81’ 6”
Net Sales 1762 sq ft
ITZA 808 sq ft
Store 106 sq ft
First Floor storage 1389 sq ft
LEASE
The premises are let on a single lease to The Works Stores Ltd on a full repairing and insuring basis for
a term of 10 years, with a 5 yearly review and break clause, from 21st February 2015, at a passing rent
of £38,000 pa. Full lease details on request. The property is not elected for VAT.
TENANT
The accounts for The Works Stores Ltd for the year ended 30 April 2017 show a turnover of £166m, up
8% on 2016 and a net profit before tax of over £6.6m. During that year the company has opened a net
50 new stores, being 63 openings in all including relocations, leading to an estate of over 400 stores
and still expanding.
EPC – C 69
PRICE
The freehold is for sale, subject to the subsisting lease, at a price of £500,000 representing a net initial
yield of 7.26% net of purchasing costs.
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