icons_size_white icons_size
menu

Agent's details

Southampton – Freehold Healthcare, Retail & Residential Investment With Development Potential

For sale: £1,300,000.00|4,444 Sq Ft|Retail, General Retail, Retail - High Street, Mixed Use, Other, Residential, Other Property Types & Opportunities

Property details

FOR SALE£1,300,000.00
SIZE4,444 Sq Ft
ADDRESS432-434 Bitterne Road, Southampton, Hampshire, SO18 1BS
TYPERetail, General Retail, Retail - High Street, Mixed Use, Other, Residential, Other Property Types & Opportunities
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON4th July 2022

Description

Investment Consideration:
Rental Income: £55,400 p.a.
ERV: £73,400 p.a. GIY: 5.65%
VAT is NOT applicable to this property
No. 434 comprises Mental Health Clinic Hub (Class E) let to NHS Foundation Trust
No. 432 comprises Vacant Ground Floor Shop and 2 Residential Flats (1 x 1-Bed and 1 x 2-Bed)
The properties include rear parking area for 6-8 cars, with development potential to add another building, STTP
Nearby occupiers include Lloyds Bank, Pure Gym, Iceland, Specsavers and Superdrug, amongst others.

Property Description:
No. 434 comprises mental health clinic hub arranged over ground and first floor, providing the following accommodation and dimensions:
Ground Floor: Shop 105 sq m (1,130 sq ft)
First Floor: Ancillary 102 sq m (1,097 sq ft)
No. 432 comprises vacant ground floor shop and 2 residential flats, providing the following accommodation and dimensions:
Ground Floor Front: Shop 75 sq m (807 sq ft)
Ground Floor Rear: 1-Bed Flat 56 sq m (603 sq ft)
First Floor: 2-Bed Flat 75 sq m (807 sq ft)
Total area size: 413 sq m (4,444 sq ft)

Tenancy:
No. 434 – The entire property is at present let to Southern Health NHS Foundation Trust for a term of 10 Years from 4th July 2022 at a current rent of £35,000 p.a. and the lease contains full repairing and insuring covenants. Rent review linked to RPI in the 5th Year. Tenant option to determine in the 5th Year with minimum 6 months notice. Lease within Landlord & Tenant Act 1954.
No. 432 Shop - The property is at present vacant. ERV: £18,000 per annum.
No. 432A Flat is at present let on AST to an Individual for a term of 12 Months from 15th August 2022 at a current rent of £10,800 p.a
No. 432B Flat is at present let on AST to an Individual for a term of 12 Months from 26th August 2022 at a current rent of £9,600 p.a

Location:
Southampton is the main commercial and administrative centre of Hampshire and is located 70 miles south-west of Central London. Bitterne is a suburb located to the east of the City Centre. The city benefits from excellent road communications via the M27 and M3 Motorways. Bitterne Rail Station provides regular services to London via Southampton. The property is situated on the south side of Bitterne Road fronting the pedestrianised
section, in the heart of the retail area. Nearby occupiers include Lloyds Bank, Pure Gym, Iceland, Specsavers and Superdrug, amongst many more.

Location

marker
Location: 432-434 Bitterne Road, Southampton, Hampshire, SO18 1BS

Bitterne (0.8 miles)

Sholing (0.9 miles)

Woolston (1.3 miles)

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