High Street, Lymington, SO41

INVESTMENT OPPORTUNITY - BUSINESS UNAFFECTED. Overall rental yield of 8.4%. A rare chance to acquire the Freehold of an attractive Grade II Listed period building on Lymington's thriving High Street . The property comprises a ground floor commercial unit, currently a premium brand jewellers with office, workshop and store to a total of 1179.3 sq ft (109.6 sq m). Also included is the freehold of the two storey flat above with a leaseholder in place on a 172 year lease from 2021 - 169 years remaining.

The property is situated in a busy part of Lymington High Street which is extremely popular with local residents and visiting tourists. The High Street also hosts a weekly Saturday market and the property is positioned in an exceptionally picturesque position close to the Town's historic 'cobbles' leading to the quay. All the town's facilities are on the doorstep with a wide range of independent shops, cafes, pubs, restaurant and boutiques within easy reach with the town's renowned sailing clubs and marinas also within walking distance. Lymington has a rail service to Brockenhurst twice an hour which connects with direct trains to the capital.

This handsome three storey building forms an attractive terrace of varied Grade II Listed buildings on the south side of the High Street. The commercial unit opens directly onto the High Street with rear access to the building, and flat above, via a passage way just to the east of the main facade. 

The ground floor is divided into a show room at the front directly accessible from the street. Also accessed from the show room is the basement via a trap door. To the rear of the commerical unit is an office, workshop, kitchen and cloakroom and a couple of storage areas.

Above the shop on the first and second floors, and with its own separate access, is a private residential apartment extending to approximately 1,200 sq ft with 3 bedrooms, a sitting / dining room, kitchen / breakfast room and shower room. This leasehold of this part of the building is held by a current leaseholder with 169 years remaining.

Tenure: Freehold of 23 High Street (commercial premises) & 23a High Street (private residential leaseholder).

Property Construction: Brick elevations

Utilities : Mains water, drainage and electricity are connected to the property

Heating: To be confirmed

23 High Street CEPC - D 96

Broadband: Ultrafast broadband with speeds of up to 1,000 Mbps is available at this property (ofcom)

Mobile signal / coverage: Please check with your provider

Conservation Area: Lymington

Parking: There is no parking 

This leasehold of this part of the building (23a High Street) is held by a current private residential leaseholder;

Term: 208 years from 29 September 1985 with 169 years remaining, Expiry 2193

Rent: £125 p.a.

Repairing: To keep the premises in good and substantial repair. Internal repainting every 5 years.)

Workman LLP are the managing agents currently instructed to manage the building.

The leases state that the retail and residential tenants have a 50/50 split of the external repairing covenant.