Folly Lane, Petersfield, Hampshire, GU31

Freehold mixed-use investment property for sale. Consisting of two commercial units and two residential apartments (both sold off on long leaseholds) on Folly Lane, Petersfield, producing a net inital yield of 7.6%.

A mixed-use commercial property situated on Folly Lane in Petersfield, just off the High Street. The property comprises two ground floor commercial units with residential accommodation above. We understand, from historical documents, that this property was part of a network of stables and carriage repair yards serving the old London Road. Carriage wheel marks are still visible on the South West corner wall. The commercial element is fully let to two separate tenants: Cantina Rosita, in occupation since 2022, and Fire Hermit, in occupation since 2024. Both leases are held outside the security of tenure provisions of the Landlord and Tenant Act 1954 and one lease is secured by a personal guarantee. Cantina Rosita benefits from an outdoor dining area that seats around twenty-five people, enhancing its trading position. The café has had substantial expenditure on new fitted kitchen equipment and front of house fitted furniture. Deliveries for both units come via Bowen Lane. The upper parts comprise two self-contained residential flats, both of which have been sold off on long leaseholds. The leases have approximately 55 years and 145 years unexpired respectively. A zoned fire alarm with fire doors have been fitted.

SITUATION
Folly Lane is one of Petersfield’s oldest roads and connects the High Street to the town’s two major car parks. Petersfield itself is a thriving market town set within the South Downs National Park, known for its attractive environment and strong local economy. The town supports a diverse business community, with Folly Lane serving as one of its key pedestrian thoroughfares. The location provides excellent connectivity. Folly Lane sits just off the A272 road and is within a short drive of the A3 road, providing direct north–south access to London and Portsmouth. Petersfield railway station is located approximately one mile away, offering regular mainline services to London Waterloo and the south coast. The town centre amenities of Petersfield are also within close proximity, providing a range of retail, dining and professional services. Recent arrivals to the town centre include Gail’s Bakery and The White Company.

ACCOMMODATION
We have identified the following approximate net internal areas:

Cantina Rosita – 534.5 Sq. Ft / 49.6 Sq. M & Fire Hermit – 482.2 Sq. Ft / 44.8 Sq. M

TENURE
We are instructed to seek offers of £335,000, subject to contract, for the freehold interest to include any subsisting leases. A sale at this level equates to a NIY of 7.6% after standard purchaser’s costs. There is an opportunity to generate further income by extending the upper floor residential lease as and when required.

RATEABLE VALUE
Online enquiry via indicates rateable values of £6,500 for Fire Hermit and £9,200 for Cantina Rosita, effective from 1st April 2026.

LEGAL COSTS AND VAT
Each party is expected to bear their own legal costs in any transaction. It is to be established if the unit is elected for VAT purposes.

EPC RATING
Cantina Rosita is rated D (85) and Fire Hermit is rated D (88) both valid until February 2027.

VIEWINGS
No approach to the current occupiers is permitted. All enquiries via the sole agents Trinity Rose Commercial on .