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London Street, Andover

PROPERTY TYPE

House

BEDROOMS

5

BATHROOMS

5

SIZE

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TENURE
Describes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.

Freehold

Key features

  • Freehold mixed-use investment
  • Current gross rental income of approximately £63,040 per annum
  • Approximate gross yield of 7.0% based on the guide price
  • Ground floor commercial premises let on a 10-year lease until January 2035
  • Five income-producing residential apartments included within the sale
  • Potential future rental growth from the residential accommodation
  • Historically low tenant turnover and strong occupancy levels
  • Freehold together with the leasehold interests of Flats 2, 3, 4, 5 and 6.

Description

Town Centre Mixed-Use Investment | £63,040 p.a. Income | Approx. 7.0% Gross Yield | Guide Price £900,000
Prime Freehold Investment Opportunity
An outstanding opportunity to acquire a prominent mixed-use investment in the heart of Andover town centre, comprising the freehold interest of the entire building together with the leasehold interests of Flats 2–6 and a ground floor commercial premises let to an established commercial occupier.
Producing a current gross rental income of approximately £63,040 per annum, the property offers investors an attractive and diversified income stream from both commercial and residential sources, together with future asset management and value enhancement potential.
The ground floor commercial accommodation is let on a 10-year Full Repairing and Insuring lease commencing 16 January 2025 and expiring in January 2035. The current passing rent is £19,000 per annum, increasing to £20,000 per annum in 2028, with a tenant break option and rent review scheduled for January 2030.
The residential element comprises five self-contained apartments (Flats 2–6), all of which are included within the sale and currently generate a combined rental income of approximately £44,040 per annum. The apartments are well established and provide a strong residential income stream within a highly desirable town centre location.
The seller advises that the property has historically benefited from strong tenant demand and low levels of tenant turnover. Furthermore, the current residential rents may offer future reversionary potential, with a number of the apartments considered to be let at levels below prevailing market rents, presenting an opportunity for rental growth as tenancies are due to be reviewed in 2027.
The sale includes the freehold of the entire building. Flat 1 is held on a long lease expiring 31 December 2133, with the freeholder retaining all associated reversionary interests. There may also be an opportunity to acquire the leasehold interest of Flat 1 by separate negotiation, presenting the potential for purchasers to secure ownership and control of the entire block.
Further benefits include rights to three parking spaces located to the rear of the property, currently allocated within the commercial tenancy.
Occupying a highly visible and central position within Andover town centre, this rare investment opportunity combines a secure commercial tenant, established residential income, long-term reversionary interests and significant future asset management potential, making it an attractive proposition for private investors, property companies and portfolio purchasers alike.
Investment Highlights
• Freehold mixed-use investment
• Prime Andover town centre location
• Current gross rental income of approximately £63,040 per annum
• Approximate gross yield of 7.0% based on the guide price
• Ground floor commercial premises let on a 10-year lease until January 2035
• Five income-producing residential apartments included within the sale
• Potential future rental growth from the residential accommodation
• Historically low tenant turnover and strong occupancy levels
• Freehold retained over Flat 1 with long lease expiring in 2133
• Potential opportunity to acquire Flat 1 leasehold interest by separate negotiation
• Three parking spaces to the rear of the property
• Diversified commercial and residential income stream
• Attractive asset management and long-term investment potential
Tenure
Freehold together with the leasehold interests of Flats 2, 3, 4, 5 and 6.
Flat 1 is held on a long lease expiring 31 December 2133.
EPC
Commercial Unit: EPC Rating C
EPC rating: C. Tenure: Freehold,
COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
Band: C
PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
Off street,Private
GARDENA property has access to an outdoor space, which could be private or shared.
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ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
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Energy performance certificate - ask agent

London Street, Andover

Approximate location

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Affordability

Monthly repayments£4,514
Property: £ 900,000
Deposit: £ 90,000
Interest rate: 5.33%
Term: 30 years
Powered byNatwest
These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.
Extension potential
Recently sold & under offer
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About Belvoir, Andover

18 Bridge Street Andover SP10 1BH

Selling Property is What We Do

As Andover estate agents, we are well placed in the area to provide you with a property marketing package to suit you. So if you are looking to sell your home or your investment property, Belvoir will advertise your property in more places than any other agent in Andover!

Here at Belvoir we are able to offer you 3 very different types of property selling options. We believe they are tailored specifically to the 3 main motivators for when people bring their property to the market. These are: speed, cost of marketing and maximum return.

Our town centre office is the only estate agent in Andover to be on the main road through the town. As a result, we get the lion's share of footfall thanks to this. For your convenience, there is a bus stop right outside our front door making it easy to get to us. Arriving by car? No problem, you can pop in and see us via a short stay loading bay just outside. Need longer? There is a longer stay car park behind Wilkinsons which is a 30 seconds walk away from our office.

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Disclaimer - Property reference P2972. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Belvoir, Andover. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

*This is the average speed from the provider with the fastest broadband package available at this postcode. The average speed displayed is based on the download speeds of at least 50% of customers at peak time (8pm to 10pm). Fibre/cable services at the postcode are subject to availability and may differ between properties within a postcode. Speeds can be affected by a range of technical and environmental factors. The speed at the property may be lower than that listed above. You can check the estimated speed and confirm availability to a property prior to purchasing on the broadband provider's website. Providers may increase charges. The information is provided and maintained by Decision Technologies Limited.
**This is indicative only and based on a 2-person household with multiple devices and simultaneous usage. Broadband performance is affected by multiple factors including number of occupants and devices, simultaneous usage, router range etc. For more information speak to your broadband provider.