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11 North Cross Street

For sale: POA|483 - 1385 Sq Ft|Other, General Retail, Other Property Types & Opportunities, Retail

PROPERTY DETAILS

FOR SALEPOA
SIZE483 - 1385 Sq Ft
ADDRESS11 North Cross Street, Gosport, PO12 1BE
TYPEOther, General Retail, Other Property Types & Opportunities, Retail
TENUREFor Sale Freehold
POSTED ON16th June 2020

DESCRIPTION

Key Points

  • Mixed Use Investment
  • Freehold Opportunity
  • Close to Gosport High Street
  • Conservation Area
  • Fully Let Property
  • Summary

    Mixed Use Freehold Investment

    Description

    This prominent end of terrace, three storey building, is configured to provide three retail units on the ground floor (11 A-B have been combined into one single unit) with two apartments on the upper floors. The apartments benefit from independent access from the rear of the property. Flat 1 - First floor apartment configured to provide 3 bedrooms, living room, kitchen and bathroom and separate toilet room let on a Assured shorthold tenancy (AST) at a rent of £ 7, 560 per annum. Flat 2 - 2nd floor apartment configured to provide 3 bedrooms, living room, kitchen and bathroom and separate toilet room let on a Assured shorthold tenancy (AST) at a rent of £ 7, 560 per annum. 11 North Cross Street - Ground floor retail unit currently let on a 5 year lease, full repairing and insuring, at a rent of £4,500 plus VAT per annum. Unit 11 A / B north Cross Street - Ground floor retail unit currently let on a 5 year lease, full repairing and insuring, at a rent of £10,500 plus VAT per annum. Total income: £30,120 plus VAT per annum.

    Location

    North Cross Street is situated very close to the main pedestrianised section of Gosport Town Centre and is accessed off the A32 which is the main arterial route into and out of Gosport. This ultimately links up with the M27 to the north via Fareham. Gosport is also easily accessed by ferry across Portsmouth Harbour, with the ferry terminals situated a short walk from the High Street and the shop.

    Terms

    Guide price for the freehold interest £375,000

    EPC

    11 North Cross Street - D (85) 11 A/B North Cross Street - C (68) Flat 1, 11 North Cross Street - D (64) Flat 2, North Cross Street - D (56)

    Business Rates

    You are advised to check the rates payable with the local council before making a commitment.

    LOCATION

    Location: 11 North Cross Street, Gosport, PO12 1BE

    Portsmouth Harbour (0.7 miles)

    Portsmouth & Southsea (1.4 miles)

    Fratton (2.1 miles)

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