Retail Investment For Sale, 130 St. Mary Street, Southampton, SO14 1NX
926 Sq Ft / Other
For Sale
- £230,000.00
Available - Last updated: 29 April 2024
A mid terrace 3 storey investment property. The ground floor is a retail shop used as an Indian takeaway. There is a front servery with rear kitchen stores / staff facilities and a basement which is used for storage.
The lease has been assigned with 8 years unexpired to BS Saman Ltd, trading as Basil and Bay. This assignment is subject to an Authorised Guarantee Agreement of 6 months rent. The current rent is £7,500 per annum. There are 3 yearly rent reviews from June 2020.
The residential upper floors comprise a 2 bedroom flat with independent access from St Mary Street. This is let on an assured short term tenancy for £9,300 per annum.. The flat has gas central heating, some double glazing, fitted kitchen and bathroom.
Please note that the pictures of the flat are from 2022.
( Agency Pilot Software ref: 783 )
Location
St Mary Street is a mixed tertiary retail, commercial and residential area within Southampton city centre. The property is in a prominent location close to a busy market square which provides a pedestrian route from St Mary Street through Hoglands Park to Southampton City Centre and West Quay Shopping Centre.
Accommodation
926 sq ft (86.03 sq m)
Terms
The premises are available freehold subject to the existing tenancies which produce a combined current income of £16,800 per annum. Offers are invited in excess of £230,000. This equates to an Initial Yield of 7.30% excluding purchaser's costs.
Rates We have obtained information from the Valuation Office website and we understand that the Rateable Value of the property is £4,050. The flat falls in council tax band B. We recommend that prospective tenants or purchasers verify this with the Valuation Office.
VAT We are advised that VAT will be payable
Specification
- Income Producing
- Popular Location
- Initial Yield of 7.30%
Property Quote Price(s)
Description | Sale type | Guide price | Price type |
|
For Sale Freehold
|
£230,000.00
| NA |
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