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Farnborough – Freehold Retail & Residential Ground Rent Investment

For sale: £290,000.00|1,076 Sq Ft|Retail, General Retail, Retail - High Street, Residential, Office, Offices

Property details

FOR SALE£290,000.00
SIZE1,076 Sq Ft
ADDRESS8-10 Bridge Road, Farnborough, Hampshire, GU14 0HS
TYPERetail, General Retail, Retail - High Street, Residential, Office, Offices
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON31st January 2022

Description

Investment Consideration:
Gross Initial Yield: 6.21%
Rental Income: £18,000 p.a.
VAT is NOT applicable to this property
Comprises double fronted retail shop at ground floor and 2 x 2-bedroom flats (sold-off) at first and second floor
Entire front parking area and entire rear yard area included in the sale
Property benefits from 2 allocated garages at rear
Nearby occupiers include Tesco Express, Pharmacy, Restaurant, Estate Agents and Esso Petrol Station, amongst others.

Property Description:
The property comprises double fronted retail shop at ground floor and 2 x 2-bedroom flats (sold-off) arranged over first and second floor. The property includes 2 lock up garages at rear, as well as entire front parking area and entire rear yard area.

The property provides the following accommodation and dimensions:
No. 8-10 Ground Floor: Double Shop 100 sq m (1,076 sq ft)
Retail Area, Office, Store, Kitchenette, WC
No. 8A First/Second Floor: Residential Flat 77 sq m (829 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom/WC
No. 10A First/Second Floor: Residential Flat 74 sq m (796 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom/WC

Tenancy:
The Retail Shop is at present let to Debra* for a term of 6 years from 6th May 2022 at a current rent of £18,000 per annum and the lease contains full repairing and insuring covenants. The tenant has right to determine lease on 6th May 2025 with 6 months’ notice.

Flat No. 8A has been sold on long leasehold for a term of 999 Years from September 2021 at a ground rent of peppercorn.
Flat No. 10A has been sold on long leasehold for a term of 999 Years from September 2021 at a ground rent of peppercorn.

*Note - Debra has over 100 charity shops in the UK with the Countess of Wessex as patron. (www.debra.org.uk)

Location:
Farnborough is a town in northeast Hampshire, England, part of the borough of Rushmoor and the Farnborough/Aldershot Built-up Area. Farnborough is near junctions 4 and 4a of the M3 motorway. The A325 enters the town from Frimley to the north, and continues into Aldershot to the south. The A331 runs north to south along the east side of the town. Farnborough is served by three railway stations, the busiest of which is Farnborough (Main) railway station on the South Western Main Line from London Waterloo to Basingstoke and beyond. Farnborough North railway station and North Camp railway station are both on the North Downs Line between Reading and Gatwick. North Camp station is a short distance over the county border, in the Surrey village of Ash Vale. The property is well located in a popular and busy local suburban retail area. Nearby occupiers include Tesco Express, Pharmacy, Restaurant and Esso Petrol Station, amongst others.

Location

marker
Location: 8-10 Bridge Road, Farnborough, Hampshire, GU14 0HS

Farnborough (Main) (0.7 miles)

Farnborough North (1.3 miles)

Frimley (1.7 miles)

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