Looking to invest in Alton, Hampshire? Fully-let freehold property comprising two shops and three resi units, close to Market Square - income over £50k pa, attractive net yield of 7.42%.


Trinity Rose Commercial have been appointed as sole agents to dispose of a mixed-use freehold investment in Alton, Hampshire. The building appears to be of original design and is of brick elevations under a pitched and tiled roof. It comprises two ground floor retail units, both of which front Lenten Street and enjoy good visibility. One is occupied by the Alton Clock shop, who have been in occupation for many years, while the second shop is let to a new retail business. Also included within the freehold title are two apartments on the first floor of the main building (a 1-bed plus a 2-bed flat), along with the Old Forge to the rear, which is a detached 1-bed conversion property, all of which have residential tenancies in place.

SITUATION
The subject property is found in central Alton, a short stroll from the Market Square and only 160m from the High Street, which has a range of retailers, cafes, independent restaurants and national brands. Nearby businesses include The Wheatsheaf Public House, Pizza Express, Mifta?s Fine Indian Dining, Market Hotel, Ten Tun Hop House and Dill café. Alton is situated just off the A31, 10 miles south-west of Farnham, 12 miles south-east of Basingstoke and 17 miles north-west of Winchester. It has a mainline train station with routes into London 1 mile away, and the town is also well served by public buses.

ACCOMMODATION
We have identified the following approximate areas:
7 Lenten Street: 39 sq m / 419 sq ft
9 Lenten Street: 43 sq m / 462
Flat 1, 5 Lenten Street: 38 sq m / 409 sq ft
Flat 2, 5 Lenten Street: 45 sq m / 484 sq ft
The Old Forge, 5a Lenten Street: 65 sq m / 699 sq ft

TENURE
We are instructed to seek offers for the freehold interest in Title Number HP560087 in the region of £650,000, subject to contract and to include any subsisting leases. A purchase at this level equates to a capital value of £262 per square foot and a net initial yield around 7.42%, after standard purchaser?s costs.

LEGAL COSTS & VAT
Each party is expected to bear their own legal costs in this transaction. The property is not elected for VAT purposes.

EPC RATINGS
7 Lenten Street: C (67)
9 Lenten Street: B (36)
Flat 1, 5 Lenten Street: E (47)
Flat 2, 5 Lenten Street: E (47)
The Old Forge, 5a Lenten Street: D (56)

RATEABLE VALUE / COUNCIL TAX
Online enquiry via the Valuation Office Agency indicates a rateable value of £5,100 and £4,700 for the respective shops and the residential units are in Council Tax Band B.

VIEWINGS
Viewings strictly by appointment with sole agents Trinity Rose Commercial on .

No approach to the current occupiers is permitted.