Acquired
Gosport – Charity Shop
31 High Street, Gosport, Hampshire PO12 1DFFreehold Charity Shop with Car Parking Investment
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
2y 8m
Area
2,379 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Comprises a ground floor charity shop with ancillary accommodation on the first and second floor
- Entire property Let to Solent Mind
- Property benefits from large private car park at rear for up to 4 vehicles
- Future residential development potential. Prior approval granted in January 2022 for conversion of rear ground and upper floors to 3 x 1-Bedroom Flats
- Nearby occupiers include Superdrug, Costa, Ladbrokes, Holland & Barrett and Specsavers
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
Comprises ground floor charity shop with ancillary accommodation above. The property benefits from rear car park for 4 cars and two rear entrances at ground floor level, providing future residential development potential*, subject to planning.
The property provides the following accommodation and dimensions:
Ground Floor: Shop 89 sq m (959 sq ft)
First Floor: Ancillary 90 sq m (968 sq ft)
Second Floor: Ancillary 32 sq m (344 sq ft)
*Note – Prior approval granted in January 2022 for a Change of Use of upper floors and part of ground floor from commercial (Class E) to 3 x 1-Bedfroom Flats (Class C3
The property provides the following accommodation and dimensions:
Ground Floor: Shop 89 sq m (959 sq ft)
First Floor: Ancillary 90 sq m (968 sq ft)
Second Floor: Ancillary 32 sq m (344 sq ft)
*Note – Prior approval granted in January 2022 for a Change of Use of upper floors and part of ground floor from commercial (Class E) to 3 x 1-Bedfroom Flats (Class C3
Tenancy Description
The property is at present let to Solent Mind* for a term of 5 years from 26th of August 2022 at a current rent of £21,000 per annum and the lease contains full repairing and insuring covenants. Open market rent review on 26.08.2025. Tenant option to determine on 28.09.2025 with minimum 6 months notice.
*Note – Solent Mind provides mental health services, in particular psychological therapies, wellbeing services and activities, employment support, advocacy, and home-based support including for older people. The company has 172 employees and produced a total income of £6,665,857 for the financial year ending 31st March 2021, which includes £5,271,089 from 20 government contracts and £21,261 from 4 government grants.
*Note – Solent Mind provides mental health services, in particular psychological therapies, wellbeing services and activities, employment support, advocacy, and home-based support including for older people. The company has 172 employees and produced a total income of £6,665,857 for the financial year ending 31st March 2021, which includes £5,271,089 from 20 government contracts and £21,261 from 4 government grants.
Tenancies & Accommodation
Location Description
Gosport is located on the Hampshire south coast, 3 miles west of Portsmouth and 15 miles south of Southampton. The Gosport ferry provides quick access to Portsmouth Harbour Railway Station (regular services to London Waterloo). The property is located in Gosport town centre on the pedestrianised High Street (which holds an active street market), close to its junction with North Cross Street. Gosport Ferry is close by which provides a direct link to Gun Wharf Quays Shopping Centre, Historic Naval Shipyards and Portsmouth Railway Station (ferry service every 15 minutes). There are a number of public car parks close by. Nearby occupiers include Superdrug, HSBC, Lloyds, Costa, Ladbrokes, Holland & Barrett and Specsavers.
