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Agent's details

187A West Street

For sale: £175,000.00|968 Sq Ft|Other, General Retail, Other Property Types & Opportunities, Retail

Property details

FOR SALE£175,000.00
SIZE968 Sq Ft
ADDRESS187A West Street, Fareham, PO16 0EN
TYPEOther, General Retail, Other Property Types & Opportunities, Retail
TENUREInvestment Opportunity, For Sale Leasehold
POSTED ON4th August 2022

Description

Key Points

  • Good Local Covenant
  • Lease until 22nd September 2029
  • Prominent Position
  • Future Development Potential
  • Attractive Gross Yield of just over 7%
  • Summary

    Rare Virtual Freehold with Income & Future Development Potential

    Description

    The property comprises a ground floor shop currently occupied by a local beautician busines trading as The Lounge. The premises comprise a retail area, consulting rooms and rear circulation space, kitchen and rear lobby. The property also benefits from having 4 parking spaces towards the rear.

    Location

    The property is located on the northern side of West Street, Fareham between Trinity Street to the east and Grove Road to the west. The property is surrounded by local occupiers and close by is Domino's Pizza, Helping Hands and a short distance from Aldi which is situated to the west.

    Fareham is situated off junction 11 of the M27 with Portsmouth approximately 10 miles to the east and Southampton approximately 20 miles to the west.

    Terms

    The property is available to purchase the virtual freehold with the benefit of the current tenancy at a guide price of £175,000 exclusive. The virtual freehold is for 999 year Lease from 5th January 2011 comes with a Share in West Street PMC Ltd (the Freehold owning management company). The sale is subject to a 10 year lease from 23rd September 2019 at £12,000 pa with a tenant only break option and rent review at 5th year of the term, the lease is within the Landlord and Tenant Act 1954.

    Specifications

    * Fitted as a Hair & Beauty Salon
    * Suspended Ceiling
    * Cat II Lighting
    * Recessed Air Conditioning
    * Tiled Floors
    * Kitchen Area
    * 4 Parking Spaces

    Other Costs

    Service Charge & Building Insurance to be confirmed.
    Legal Costs - Each party ot bear their own costs incurred in the transaction.
    VAT - Unless otherwise specified all costs and prices are exclusive of VAT.

    Location

    marker
    Location: 187A West Street, Fareham, PO16 0EN

    Fareham (0.3 miles)

    Portchester (2.7 miles)

    Swanwick (3.9 miles)

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