40 West Street, Havant, Hampshire, PO9 1PG

Description

The property comprises a substantial ground floor retail unit which provides open plan retail space, together with storage, office and WCs.

The unit benefits from rear servicing.

There is also a large self-contained two bedroom flat above, which is accessed from the rear.

Location

Havant is strategically located on the A27/M27/A3(M) and forms part of the extensive M27 / Solent corridor, providing easy access to Portsmouth, Southampton and London. Havant benefits from a mainline railway station with direct trains to London and the south coast.

The property is situated on the northern side of West Street, which is fully pedestrianised. Nearby occupiers include Specsavers, Greggs, New Look, Superdrug and The Works.

Planning

Interested parties should make their own planning enquiries and satisfy themselves in this regard.

Tenancy Information

The ground floor is let to Savers Health and Beauty Limited by way of a 5 year lease commencing 29 January 2024, inside the Act, with an effectively full repairing and insuring obligations. The tenant has a break option 3 anniversary of the lease. The passing rent is £34,500 per annum exclusive.

The flat is let on an AST at £10,800 per annum.

Therefore, the total rent is £45,300 per annum.

VAT

We understand that the property is elected for VAT and therefore it is assumed that the sale will be treated by way of a Transfer of A Going Concern (TOGC).

Accommodation

The accommodation has the following approximate floor areas:

Business Rates / Council Tax Band

Rateable Value (2023): £38,000.
Council Tax Band: TBC.

EPC

We understand the retail unit has an EPC rating of D and the flat has a rating of E.

Legal Fees

Each party to bear their own legal costs incurred.

AML

Due to Government legislation, we are legally obliged to undertake Anti-Money Laundering checks on prospective Purchasers / Tenants where a transaction has a capital value of €15,000 (Euro) or more or a rental value of €10,000 (Euro) per calendar month or more. This includes checking proof and source of funds. Please note that we need to obtain the relevant information and record this on file before a transaction can be contracted.