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Commercial Property for sale

Fort Fareham Industrial Site, Newgate Lane, Fareham

Guide Price* £225,000

Property Description

Full description

UNSOLD BY AUCTION. NOW AVAILABLE TO READY BUYERS.
GUIDE PRICE: £225,000-£250,000.
THE INTERESTING AND LUCRATIVE LONG LEASEHOLD COMMERCIAL INVESTMENT LET AND PRODUCING £40,580 P.A. GROSS - £23,568 P.A. NET OF HEAD LEASE RENT, EQUIVALENT TO A YIELD OF 10% P.A. APPROX.
Built between 1861 and 1868, Grade 2 Listed Fort Fareham is a former military defence, one of a number that became known as "Palmerston's Follies". It stands on the west side of Newgate Lane, close to the junction with Gosport Road, and some one mile to the south-west of Fareham Town Centre.

Unit 1 - TENANT: Tropical Fish
RENT: £2,300 per annum

Unit 2 - TENANT: Body Care
RENT: £4,650 per annum

Units 3-4 - TENANT: Taylor & Sons
RENT: £7,350 per annum

Unit 5 - TENANT: Samson Fire Protection Limited
RENT: £3,000 per annum

Units 6, 7 & 13 - TENANT: Barney's Super Bikes
RENT: £9,000 per annum

Unit 8 - TENANT: C & L Carpentry Southern Limited
RENT: £3,000 per annum

Unit 9 - TENANT: David Lewis
RENT: £2,880 per annum

Units 10-12, 15-16 - TENANT: Elite Vehicles
RENT: £8,400 per annum

Total: £40,580 Per Annum -

Tenure - The premises are held on the balance of a 99 year lease, commencing 1st December 1971, at a rent of £17,012 p.a.

Viewing - By appointment with AUCTIONEERS,
D. M. NESBIT & CO.
(16858/013879)

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Disclaimer - Property reference 27226727. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by D. M. Nesbit & Company, Southsea. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call D. M. Nesbit & Company, Southsea on 02392 864321.


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