147 High Street, Winchester, SO23 9AY
402 Sq Ft / Other / Investment
For Sale
- £1,350,000.00
Available - Last updated: 06 March 2024
Summary
The accommodation is set over three floors comprising a good size ground floor retail unit with two flats above.
Ground Floor Retail Unit
Let on a 10 year FRI lease at a rent of £49,000* pax, from 04/05/18 until 08/05/2028, providing 6.75 years unexpired lease term. The flats are let on AST’s at the following rents.
Flat 1
First Floor 2 bedroom flat let at £950pcm (£11,400 pax)
Flat 2
Second Floor 1 bedroom flat let at £795pcm (£9,540 pax)
* The passing rent is subject to stepped rent concessions over the remaining term which will be topped up by the vendor on completion.
Key Points
Mixed use residential and retail investmentPrime high street locationTwo let upper floor flatsClose to Marks & Spencer and Sainsbury'sTotal Income £69,940 per annumNet Initial Yield 4.8% after purchaser's costs of 6.2%Location
The premises occupy a prime City Centre location immediately adjacent to Card Factory, with nearby occupier including British Heart Foundation and Chococo, close to Marks & Spencer and Sainsbury ’s and opposite a new hotel development. The property is situated within the partially pedestrianised section of the High Street close to the junction with Middle Brook Street that leads through to the Brooks Shopping Centre.
Located to the Eastern end of Winchester High Street the property is 10 minutes walk to the mainline railway station which provides services to Southampton (15 minutes), Basingstoke (15 minutes) and London Waterloo (1 hour). Winchester benefits from an extensive road network with access to the M3 Motorway at Junction 9 and 10 located 3 miles distant. Junction 9 at Winnall provides access to the A34, A31 and A272. There are two park and ride schemes operating from the South of the City and the Chesil Street public car park is a 5 minute walk.
Property Quote Price(s)
| Description | Sale type | Guide price | Price type |
| |
For Sale Freehold
|
£1,350,000.00
| NA |
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