High Street, Gosport, Hampshire, PO12

Town Centre Location
Ground Floor Retail
Held on F.R.I Lease
Let to Savers
Expiry: May 2031
Passing Rent: £25,000p.a.x
Price: o/o £240,000

Location

The property is situated on the north side of High Street within the main retailing thoroughfare of the town of Gosport.

Gosport is a town located in Hampshire, England, situated on the southern coast of the country, along the eastern side of the Solent, across from the city of Portsmouth. It has a rich history, especially as a naval town. The town is well connected by road and sea. A regular ferry service connects Gosport to Portsmouth, making it easily accessible for both locals and visitors. The town is also close to the M27 motorway, offering good links to other parts of the region.
Neighbouring occupiers include Poundworld, Lloyds, Post Office and Travel Lodge

Property

The property forms the ground floor of a larger commercial development over 4 stories.

The property offers a large display frontage with pedestrian door access of aluminium framed and glazed construction.

Internally the property is presented in an open plan layout with main retailing space to the front and partition's to the rear to form stores, staff facilities and office.

Area

296.1sqm (3,187sq ft)


Lease Summary

The property is held on a full repairing and insuring head lease in the following terms;

Tenant: Savers Health and Beauty Ltd
Expiry: 12th May 2031
Tenant Break: May 2029
Passing Rent: £25,000p.a.x
Covenant Info: For the year ending 30th December 2023 Savers Health and Beauty Ltd reported a turnover of £754.82m with a pre-tax profit of £61.25m and shareholder funds of £142.13m

Sale

Our client will dispose of their interest for o/o £240,000

Ground Lease

The property is held on a ground lease expiring 8th May 3018 at a peppercorn rent

V.A.T.

The property has been elected for V.A.T. as such the transaction may be treated as a T.O.G.C (transfer of a going concern)

Legal

Each party shall bear their own legal costs incurred in the transaction

Lease & Title

Available on request

Viewing

Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business

Anti-Money Laundering

In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time