2 Church Street, Romsey, SO51 8BU

This mixed use investment property comprises a three-storey Grade II listed building generating a total income of £32,270 per annum. One flat is let on an assured periodic tenancy at an annual rent of £12,420 per annum. The other flat is sold off on a long lease. The owner pays a ground rent of £50 per annum. The 712 sq ft shop has frontage to Church Street and is visible from Market Place. It is let to Tidal Vapes Limited on a 7-year lease from April 2023, expiring April 2030, at a rent of £19,800 per annum. There is a tenant break clause and a rent review in March 2028. Tidal Vapes offers a very good covenant, operating from 34 stores and pursuing an active expansion programme through a retained acquisition agent, with seven new store openings in the past 2 years. Creditsafe reports a Risk Score of 79, placing the company within the upper 25% of 22,420 comparable businesses, together with an International Score of 'A', indicating very low risk. Approximately £6,000 per annum is recovered from the tenants by way of service charge, contributing towards communal costs and ongoing property maintenance / repairs. Please find the tenancy schedule overleaf.