Description

The property is situated within the densely populated district of Shirley in Southampton. The area is largely made up of residential and retail property and within easy walking distance of local shopping in Shirley, Bedford Place and the city centre.

The property comprises a self contained retail property at ground level, currently used for carpet/flooring sales which is well established in the area.
The uppers comprise two self contained, two-bedroom flats let on AST's.
The property provides a strong mixed income stream and rental growth potential.

Accommodation

Total Net Internal Area - Commercial 1,593 Sq Ft 148 Sq M
Residential x2 two bedroom flats

Planning

Interested parties are advised to make their own enquiries of the Local Authority for confirmation.

EPC Text

Commercial D (76)
Flat 2A D (57)
Flat 2B E (53)

Rating

Rating £19,500
Source

Terms

Offers are invited in the region of £510,000 for the freehold interest subject to the tenancies outlined, showing an attractive blended yield of 7.26% after allowance for buyer's costs at 4.74%.

All prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale

The shop is let by way of a ten-year full repairing lease from 22 December 2023, expiring 21 December 2032 at a passing rent of £19,000 per annum.
The tenant is Direct Carpets Hampshire Ltd. There is a personal guarantee.
The lease is subject to an open market upward only rent review 22 December 2028 and a tenant break subject to six months' notice.
Both residential flats are let by way of 12-month ASTs (these will become periodic following new legislation in 2026) at £825.00 per month each (£9,900 per annum each.)