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Agent's details

58 West Street, Alresford, Hampshire, SO24 9AU

For sale: £170,000.00|367 Sq Ft|Retail - High Street, Retail

Property details

FOR SALE£170,000.00
SIZE367 Sq Ft
ADDRESS58 West Street, Alresford, Hampshire, SO24 9AU
TYPERetail - High Street, Retail
TENUREUnder Offer, For Sale Leasehold
POSTED ON23rd February 2022

Description

Description

The property is situated at the western end of West Street in Alresford, which is an attractive market town and has become a destination retailing area with a number of specialty shops as well as the normal food and day to day shopping. The town benefits from the Watercress Line which is a heritage railway operating between Alresford and Alton where it joins the mainline services. Winchester and Alton are located some 9 and 12 miles respectively, and the M3motorway is within 8 miles. The shop fronts onto West Street which is the prime retailing street.
The property comprises a ground floor retail unit on West Street providing an attractive frontage. It has recently been fitted out to a good standard for the use of Funeral Director.

Accommodation

Main retail area316 sq. ft.29.35 sq. m.
Incorporating tea making area and air conditioning
Kitchen51 sq. ft.4.34 sq. m.
Leading to W.C.


Planning

Under the new planning regulations, we believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, cafe', health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.

EPC Text

Asset Rating - C57

Rating

Rateable Value £10,000
Source www.voa.org.uk The 2021/2022 standard multiplier is 0.499 (4.99p payable per £1). The 2020/2021 small business multiplier is 0.499 (49.9p payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. *If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.

Terms

Offers considered in the region of £170,000 for the long leasehold interest. A purchase at this level equates to a gross yield 6.47%

Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.

The property is let to Richard Steel and Partners Ltd for a term of ten years from 1st February 2021 at an initial rental of £11,000 per annum. Provision is made for a single upward only rent review on the fifth anniversary, together with provision for a tenant only option to break on the same date, subject to a minimum of six months written notice. The lease is effectively full repairing excluding the roof, rainwater goods, foundations, load bearing walls and beams.
( Agency Pilot Software Ref: 7647 )

Location

marker
Location: 58 West Street, Alresford, Hampshire, SO24 9AU

Winchester (6.9 miles)

Micheldever (7.6 miles)

Shawford (8.5 miles)

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