Investment Consideration:
Gross Initial Yield: 8.57%
Rental Income: £15,000 p.a.
VAT is NOT applicable to this property
Comprises newly refurbished ground floor shop with ancillary accommodation at lower ground floor
Let to a successful online business as their fulfilment centre, as well as retail sale of shoes and clothing
Within short walk from Woolston Station with occupiers nearby include Subway, Co-Op Food and more.
Property Description:
Comprises newly refurbished ground floor retail shop with ancillary accommodation at lower ground floor, providing the following accommodation and dimensions:
Ground Floor: 23 sq m (248 sq ft)
Open plan retail
Lower Ground Floor: 33 sq m (355 sq ft)
Open plan ancillary
Tenancy:
The property is at present let to an Individual* for a term of 10 Years from 11th February 2025 at a current rent of £15,000 p.a. and the lease contains full repairing and insuring covenants. Rent review on 11.02.30 linked to RPI. Tenant option to determine on 11.02.30 with min 6 months notice. Deposit held of £3,750.
*Let to a successful online business as their fulfilment centre, as well as retail sale of shoes and clothing. For more information, please visit www.valueshoebox.co.uk.
Tenure:
Long leasehold. To be held on a 999 Year lease from completion at a ground rent of peppercorn.
Location:
Woolston is a suburb of Southampton, Hampshire, located on the eastern bank of the River Itchen. It is bounded by the River Itchen, Peartree Green, Itchen and Weston. The property is located within short walk to Woolston Station with occupiers nearby including Subway, Co-Op Food, Superdrug, Admiral Casino and more.
