21 Bedford Place, Southampton, SO15 2DB

Description


Bedford Place is a popular trading location within the city centre. It is situated within the business district and has a large student population. There are numerous car parks in close proximity of the property in addition to public meter parking on Bedford Place. Bedford Place comprises both national and local retailers which include McColl's, Sainsbury's and Revolution in addition to independent hair dressers, barbers and cafe operators. The subject property is located amongst similar operators and adjacent to the popular mauritian restaurant lakaz maman.

The building is a mid-terrace building comprising basement, ground, first and second floors. The property is of mixed-use comprising ground floor retail premises, currently trading as a restaurant, with an opening into the neighbouring property, service yard to the rear and two 2xbedroom residential flats on the upper floors. To the rear (Lower Bannister Street) is a service yard with rear access to the flats via a steel external staircase.

Accommodation

Retail premises including basement 950 sq.ft (88.3 sq.m)
21 Lower Banister Street (2 x bedroom) 732 sq.ft (68.0 sq.m)
21a Lower Banister Street (2 x bedroom) 594 sq.ft (55.3 sq.m)

Planning

Under the new planning regulations, we believe the current permitted use of the ground floor to be use class 'E' which includes uses such as retail, professional services, cafe', health clinics, indoor recreation/sport and office.
Planning was obtained in 1991 for change of use of the first and second floors from office to residential.
All parties are advised to make their own enquiries of the local authority for confirmation.

EPC Text

Asset Rating - 21 Bedford Place D96
21 Lower Banister Street D67
21a Lower Banister Street D58

Rating

Rateable Value £25,250
Council Tax - A
Source www.voa.org.uk The 2020/2021 standard multiplier is 0.499 (XXX payable per £1). The 2020/2021 small business multiplier is 0.499 (XXX payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. *If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.

Terms

Offers invited in the region of £400,000 subject to contract for the freehold interest and subject to and with the benefit of the subsisting tenancy on the ground floor.

Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.

The ground floor property is let to a private individual trading as
Sakura for a term of 20 years commencing 27th July 2016 at a
passing rent of £13,500 per annum exclusive.
The lease is drawn on standard full repairing and insuring terms
and subject to a rent review on an upward only basis every third
year.
The lease provides a desirable 15 years to expiry.
To be sold with vacant possession of the flats which have a total
estimated rental value of £16,800 per annum.
( Agency Pilot Software ref: 3714 )