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9 Southampton Road, Ringwood, BH24 1HB
1,108 Sq Ft / Retail / Retail - High Street
Withdrawn - Last updated: 15 July 2023
Description
Ringwood is an attractive Market Town located in Hampshire and the New Forest. Bournemouth Town Centre is approximately 12 miles to the south and Southampton is approximately 22 miles to the east.
The main road adjacent to Ringwood is the A31 which runs west to Dorchester and east to Southampton via the New Forest. Southampton Airport is approximately 23 miles distant
The subject property occupies a prime position on Southampton Road, a short distance away from its junction with the High Street. The property is close to Boots and other nearby retailers include M and Co, Iceland and more.
The subject property comprises of a mid terrace three-storey period building with ground floor sales area benefiting from a double-glazed shop front and fitted out to a good standard. First and second floors comprise three flats with separate access.
There is parking to the rear.
Accommodation
Ground floor retail - 1,108 sq.ft (102.94 sq.m)
Planning
Interested parties are advised to make their own enquiries of the Local Authority for confirmation.
EPC Text
Asset Rating:-
Commercial - C(53)
Residential - C
Terms
Offers considered in the region of £325,000 subject to contract for the freehold interest subject to subsisting tenancies.
A purchase at this level shows a Net Initial Yield of 8.22% after buyers costs at 3.56%.
Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.
Commercial:-
The ground floor retail space is let by way of a lease dated 25 June 2015 for a term of 10 years at a passing rent of £26,650 per annum, expiring 23 December 2025. The tenant is The Shoe Gallery (Walton) Limited trading as Clarks. The lease is drawn on full repairing and insuring terms.
Residential:-
The upper floors comprise 3 flats which are all sold off on separate 125 year long leaseholds from 2017, each paying a ground rent of £350 per annum, doubling every 25 years, currently generating a yearly income of £1,050 per annum.
( Agency Pilot Software ref: 5937 )
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