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65 London Road, Southampton, SO15 2AB

For sale: £425,000.00|1528 Sq Ft|Residential, Retail

PROPERTY DETAILS

FOR SALE£425,000.00
SIZE1528 Sq Ft
ADDRESSLadbrokes Ltd, 65 London Road, Southampton, Hampshire, SO15 2AB
TYPEResidential, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON27th March 2020

DESCRIPTION

The premises comprise a mid terraced three storey building, comprising a ground floor retail unit with full width glazed window display frontage and open plan sales area, with partitioned rear staff office and separate WC’s. The first and second floors have a separate communal front entrance via London Road and comprise five separate residential flats.

The ground floor retail unit is let to Done Brothers (Cash Betting) Ltd (Company No: 1277703) on an effective full repairing and insuring lease for a term expiring on 17 July 2025, at a rent of £34,000 per annum exclusive. The tenant took an assignment in January 2017 of a lease originally granted to Ladbrokes Betting & Gaming Ltd (Company No: 0775667) for a term of 10 years, granted from 18 July 2015, incorporating a tenant’s only break option with effect from 17 July 2020, operated by 6 months prior notice (not served) and incorporating a rent review with effect from 18 July 2020.

The five separate residential flats on the upper floors are occupied on leases of 125 years granted from 2001, each paying a nominal ground rent of £100 per annum.

LOCATION

Location: Ladbrokes Ltd, 65 London Road, Southampton, Hampshire, SO15 2AB

Southampton Central (0.5 miles)

St Denys (1.0 miles)

Bitterne (1.3 miles)

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