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Commercial property for sale
Commercial Freehold, Portland Street, Southampton. 3 flats and shop. 40K income pa. Excellent investment opportunity.
- Central trading position just off the prime pedestrianized shopping area of Above Bar, Southampton
- Freehold Building
- Approximately 2,567sq ft.
- Accommodation is split into three apartments, a shop front, seperate basement office
- Apartments are currently bringing in an income
The property occupies a central trading position just off the prime pedestrianized shopping area of Above Bar with many national multiple retailers trading close by including Barclays, Halifax, Blacks, Footlocker and JD Sports. This is an excellent opportunity to acquire a freehold building of approximately 2,567 square feet in accommodation, which is currently split into three apartments and a shop front, with separate basement office. An internal inspection is highly recommended.
The premises have the following areas:-
Shop and sales area
Basement office/storage room
Staff Kitchen and Separate WC
Three X Fitted apartments
The shop premises currently will achieve an estimated rental income of approximately £20,000 - £25,000 per annum.
The three apartments are currently bringing an income of £1,700pcm and all are occupied.
We are verbally advised by the Local Rating Authority, Southampton City Council, that the ground and basement have the following assessment for business rates:-
Rateable Value: £16,000.00 p.a.
Rates Payable: £ 6,512.00 p.a. (from April 2010)