Acquired
Andover – Shop & Flat with Development Potential
60/60A High Street, Andover, Hampshire SP10 1NGFreehold Retail & Residential Investment with Development Potential
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
7m
Area
2,405 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor shop and 3-bed flat above
- Property benefits from rear yard off-street car parking for approx. ten vehicles
- Development potential for the rear car park, subject to obtaining the necessary consents
- Total building area size of 224 sq m (2,405 sq ft)
- Pedestrianised town centre location
- Within short walk to Chantry Shopping Centre
- Nearby occupiers include Specsavers, Clarks, Greggs, Boots Opticians and British Heart Foundation, amongst many more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises Ground Floor Shop and a self-contained 3-Bedroom Flat at First Floor. The property benefits from car parking and service area at rear for approx. ten vehicles. Development potential for the rear car park, subject to obtaining the necessary consents
The property provides the following accommodation and dimensions:
Ground Floor: Shop 138 sq m (1,480 sq ft)
Retail Area, Storage, Office, WC
First Floor: 3-Bed Flat 86 sq m (925 sq ft)
3 Bedrooms, Kitchen, Living Room, Bathroom/WC
Total area size: 224 sq m (2,405 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor: Shop 138 sq m (1,480 sq ft)
Retail Area, Storage, Office, WC
First Floor: 3-Bed Flat 86 sq m (925 sq ft)
3 Bedrooms, Kitchen, Living Room, Bathroom/WC
Total area size: 224 sq m (2,405 sq ft)
Tenancy Description
The ground floor shop is at present let to Blue Cross for a term of 15 years from 23rd August 2010 at a current rent of £33,000 per annum and the lease contains full repairing and insuring covenants. No breaks. The first floor flat is at present let on AST to an Individual for a term of 12 Months from 29th September 2020 at a current rent of £9,600 per annum. Deposit held of £923.
Tenancies & Accommodation
Location Description
The property is located Andover is an attractive market town located some 20 miles due north of Southampton and 13 miles north west of Winchester. The town is served by the A303 which provides direct access to the A34 & M3 (Junction 8) some 7 miles & 13 miles to the east respectively. Andover rail station is approximately 1.2 km away and provides direct services to London Waterloo with a journey time of approx. 1 hour 10 minutes. The property is situated in the heart of the town centre, on the east side of the pedestrianised High Street, close to its junction with Newbury Street One entrance to the Chantry Shopping Centre is located some 50m west of the property. Occupiers close by include: Specsaver's, Clarks, Greggs, Savers, Boots Opticians, Wimpy, and British Heart Foundation amongst many other local retailers.