3 Market Street, Eastleigh, Hampshire, SO50 5RJ

Description

Eastleigh is located approximately 5 miles north of Southampton and 9 miles south of Winchester; both are accessed via Stoneham Way/ Thomas Lewis Way and M3 respectively. The subject property is located in a prominent trading position on Market Street, the main shopping area of Eastleigh.

The opportunity comprises of a ground floor commercial space currently trading as a Vape Shop. To the rear of the property is mostly additional storage, benefitting from a kitchen and WC (with
shower facilities).

There is a self-contained 2 bedroom flat accessed by the rear of the property. Both commercial and residential elements are subject to the existing tenancies remaining in place.

Accommodation

Ground Floor Retail 615 Sq Ft (57.13 Sq M)
Rear storage 307 Sq Ft (28.52 Sq M)
Ancillary space 330 Sq Ft (30.66 Sq M)
Commercial - Total Net Internal Area 1,252 Sq Ft (116.31 Sq M)

Residential - Total Gross Internal Area 615 Sq Ft (57.13 Sq M)

Planning

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.

EPC Text

Asset Rating - D (100)

Rating

Rateable Value £12,750
Source

Terms

Offers considered in the region of £380,000 subject to contract for the freehold interest subject to subsisting tenancies. A purchase at this level will show an attractive gross yield of 8.42% We understand VAT is not applicable however all parties are advised to make their own enquiries into the matter.

Investment Opportunity

Ground Floor Commercial Space

First Floor Residential Apartment

£380,000 for the Freehold

Ideal Trading Position

Affluent Market Town

Gross Yield 8.42%

The commercial property is let by way of a lease dated 31st October 2024 for a term of 6.5 years, expiring on the 30th April 2031 at a passing rent of £20,000 per annum. The tenant is a private individual having had the lease assigned to them on the 29th October 2025. The lease is drawn on effective full repairing & insuring terms.

The upstairs residential apartment is newly let at a passing rent of £12,000 per annum.