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UNDER OFFER

Hampton Lane, Blackfield, Southampton, Hampshire, SO45

£525,000

£121.36 per sq ft

Business rates & charges may apply

Keygrove Chartered Surveyors, Southampton
SIZE AVAILABLE

4,326 sq ft

402 sq m

SECTOR

Light industrial facility for sale

Key features

  • Gross Income £35,700 per annum with potential to increase
  • New 5 year lease to long established Blackfield Garage
  • 1 x 2 bed & 2 x 1 bed flats
  • Reversionary Yield 8.39% when flat 1 is let.

Description

FREEHOLD INDUSTRIAL/RESIDENTIAL INVESTMENT PROPERTY PRODUCING £35,700 PER ANNUM. A semi-detached 2 storey property. The ground floor is a motor vehicle workshop and MOT garage with forecourt parking leased to the same tenant for many years benefits from a large pit for MOT works, MOT Licence, 3 phase electric, gas hot air blowers and LED strip lights.
The garage is let on a 5 year full repairing and insuring lease from 13th December 2023 to Peter Charles Cousins at a rent of £24,000 per annum exclusive. There is a rent review at the end of year 3.
The upper floors have been converted into 3 self contained flats with a separate access at the side of the building. All the flats have gas central heating, UPVC double glazing and velux windows in the bedrooms.
Flat 1 is vacant and it is understood this could be let at a rent of £650 pcm.
Flat 1a has been let to the same tenant since May 2018 at £475 pcm rising to £495 pcm in January 2024
Flat 2 has been let to the same tenant since August 2019 at £525 pcm.
Total rental income £36,000 per annum. Future potential income when flat 1 is let and the rent on flat 1A is increased is £43,800.

Brochures

Hampton Lane, Blackfield, Southampton, Hampshire, SO45

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Hamble Station4.1 miles
  • Netley Station4.1 miles
  • Bursledon Station5.4 miles

About Keygrove Chartered Surveyors, Southampton

Harbour Lights Maritime Walk, Ocean Village, Southampton, SO14 3TL

Keygrove Chartered Surveyors, Southampton

Keygrove is a well established and entirely independent firm of Chartered Surveyors specialising in commercial property, operating from a landmark building in Ocean Village, Southampton.

We offer Director level service with an emphasis on accountability. Our independent status allows us to tailor our services to our clients' needs whether starting from a 'blank sheet' or applying our skills and knowledge to an existing project.

We provide our services (see 'what we do' above) to l

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Notes

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Disclaimer - Property reference 723FH. 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 Keygrove Chartered Surveyors, Southampton. 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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