North Stores, Unit A1 The Granary & Bakery, Weevil Lane, Gosport, Hampshire, PO12 1FX

Gosport is a large town within southern Hampshire, situated 5 miles south of Fareham and 15 miles southeast of Southampton. The A32 provides access from Fareham in the north, with further access to the M27. The property has a prime waterfront location in a thriving area with a rich maritime heritage.

North Stores is a ground floor office unit within the Mill complex. Internally the office is mainly open plan with partitioned meeting rooms, toilets and a communal kitchen with part exposed original brickwork and timber windows and a raised floor.

Total Gross Internal Area 3,872 Sq Ft 359.72 (Sq M)

We believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, cafe`, health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.

Asset Rating - D (91)

Rateable Value £37,750
Source

Offers considered in the region of £425,000 subject to contract for the 999 year long leasehold, subject to subsisting tenancy.
We understand that VAT is payable, however all parties are advised to make their own enquiries into the matter.

Investment Property

Gross Internal Area 3,872 Sq Ft (359.72 Sq M)

Rent Income £39,000 per Annum

Net Initial Yield circa 9%

Established Tenant in Place

In Demand Commercial Area

The property is let by way of a lease dated 14th October 2020 for a term of 10 years at a passing rent of £39,000 per annum, expiring 14th October 2030.
Please note the occupational tenants are liable for a service charge of £8,725 per annum inclusive of VAT.