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Agent's details

1/1A Linkway Parade

For sale: £165,000.00|774 Sq Ft|Other, General Retail, Other Property Types & Opportunities, Retail

Property details

FOR SALE£165,000.00
SIZE774 Sq Ft
ADDRESS1/1A Linkway Parade, Fleet, GU52 7UL
TYPEOther, General Retail, Other Property Types & Opportunities, Retail
TENUREInvestment Opportunity, Under Offer, For Sale Freehold
POSTED ON23rd May 2022

Description

Key Points

  • Pair of ground floor retail units
  • Combined passing rent of £13,800 pa inclusive of service charge
  • Maisonette on first and second floor sold off on long lease
  • Potential to recover ground rent from maisonette
  • Excellent customer parking
  • Summary

    Freehold retail investment

    Description

    The property is available on a freehold basis, and consists of a ground floor retail unit that has been divided into two and let to separate tenants. The building is at the end of a terrace, and forms part of a fully let retail parade. There is a maisonette on the first and second floor accessed through a separate staircase to the rear. There is a shared rear access for both ground floor units.

    Location

    The property forms part of Linkway Parade, an established retail parade which primarily serves the residents in the surrounding residential areas. The property is located close to a GP Surgery and local school. The closest town is Fleet, located approximately 1.5 miles from the property. The closest mainline railway station is located in Fleet, and provides access to London Waterloo in approximately 50 minutes.

    Tenancies

    There are currently two tenants in occupation at the property on periodic tenancies with no formal leases in place.

    Unit 1 - Linkway Barbers currently pay a rent of £550 per month including service charge. This tenant has been in occupation for circa 25 years and we understand has kept up with their rent payments throughout.

    Unit 1A - Bulldog Computers currently pay a rent of £600 per month including service charge. This tenant has been in occupation since 2019 but we understand has fallen into significant rental arrears.

    18 Linkway Parade - The maisonette is sold off on a 125 year lease commencing from 29th February 2008. No ground rent is currently charged, although we understand their lease contains a mechanism for a ground rent to be recovered. Further details on enquiry.

    Service Charge

    Each tenant pays approximately £130 per quarter into a service charge which covers the insurance for the whole block, day to day maintenance and minor repairs. The freehold owners and long lease holders all hold shares in the management company, with 4 shares allocated per unit.

    Location

    marker
    Location: 1/1A Linkway Parade, Fleet, GU52 7UL

    Fleet (1.5 miles)

    Winchfield (3.1 miles)

    Aldershot (3.8 miles)

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