The main parade is of brick construction under a pitched tiled roof with a single-storey large Co-op convenience store. The parade offers off street car parking and is on the main road linking into Gosport.
In addition, there is a rear service area and garages. The first floor residential comprise five self contained two bedroom flats which are accessed from the rear of the parade.
Location
Gosport is an attractive Hampshire town located on the south coast on a peninsula bounded by Portsmouth Harbour to the east and the Solent to the west. The town is approximately 4 miles south-west of Portsmouth 11 miles south-east of Southampton and 84 miles south-west of London. The new Forest and the cathedral cities of Winchester and Chichester are within a short drive. The A 32 is the principal arterial route to Gosport and provides good access to the M 27 at junctions 10 and 11 which links to the M3 at Southampton and the A3 at Havant. Rail services to London Waterloo are via Portsmouth with fastest journey time of 1 hour 40 minutes.
The parade which serves the local and wider area and is situated on Privett Road in an attractive neighbourhood easily accessible some 2 miles from Gosport town centre.
Accommodation
151 (Shop), 153A (Flat) Garage 1 - 5,038 sq ft
Queens Parade
First Floor
153-155 Queens Parade (Shop) - 1,034 sq ft
157 (Shop), 155A (Flat) Garage 2 - 1,024 sq ft
First floor
159 Queens Parade (shop) Garage 3 - 1,021 sq ft
161 (Shop), 157A (Flat) Garage 7 - 472 sq ft
Queens Parade
First Floor
163 (Shop) 159A (Flat) Garage 4 - 478 sq ft
Queens Parade
First Floor
165A Queens Parade (Shop) Garage 6 - 478 sq ft
165B (Shop), 161A (Flat) Garage 5 - 480 sq ft
Queens Parade
First floor
Terms
TOTAL INCOME
The parade generates a total income of £ 138,875pa.
For a detailed view of the Tenancies, please view attached brochure.
TENURE
Freehold.
PROPOSAL
We have been instructed by the vendor to seek offers in excess of £1,740,000 subject to contract. A purchase at this level reflects a net initial yield of 7.52%.
VAT
The property is not registered for Value Added Tax.
LEGAL COSTS
Each party to be responsible for their own legal costs incurred in this transaction.
Specification
- Neighbourhood Parade
- Serving large local & wider catchment
- Unbroken self contained residential Upper Parts
- Total Rent £138,875 pa.
- Freehold
- Anchored by a Coop convenience Store
- Offers sought in excess of £1,740,000 stc.
- Net Initial yield 7.52%