Church Street, Romsey, Hampshire, SO51
Size
712
Tenure
Freehold
EPC
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Parking
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- Primary use
- Mixed use
Key features
- Town Centre Location
- Initial Yield of 10.08% excluding purchasers costs.
- Listed Building With Character Features
- Strong Retail Tenant Covenant
Description
One flat is let on an assured periodic tenancy at an annual rent of £12,420 per annum. The other flat is sold off on a long lease. The owner pays a ground rent of £50 per annum.
The 712 sq ft shop has frontage to Church Street and is visible from Market Place. It is let to Tidal Vapes Limited on a 7-year lease from April 2023, expiring April 2030, at a rent of £19,800 per annum. Tidal Vapes offers a very good covenant, operating from 34 stores and pursuing an active expansion programme through a retained acquisition agent, with seven new store openings in the past 2 years. Creditsafe reports a Risk Score of 79, placing the company within the upper 25% of 22,420 comparable businesses, together with an International Score of 'A', indicating very low risk.
Approximately £6,000 per annum is recovered from the tenants by way of service charge, contributing towards communal costs and ongoing property maintenance / repairs.
Please find the tenancy schedule overleaf.
- Service charge
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- Business rates
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- Use class
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- Listed building
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An Energy Performance certificate helps you understand the current energy efficiency of a property.
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- BREEAM rating
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- Environmental description
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Brochure
Church Street, Romsey, Hampshire, SO51
About Keygrove Commercial Limited, Southampton
Keygrove is a well established and entirely independent firm of Chartered Surveyors specialising in commercial property, operating from a landmark building in Ocean Village, Southampton.
We offer Director level service with an emphasis on accountability. Our independent status allows us to tailor our services to our clients' needs whether starting from a 'blank sheet' or applying our skills and knowledge to an existing project.
We provide our services (see 'what we do' above) to landlords, tenants, investors, owner occupiers and property professionals across the commercial property sector; including offices, industrial, warehouse, retail, motor trade and development land. We do business locally, regionally and nationally with all sizes of organisation.
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