Available
Havant – Large Shop with Parking & Residential Flat
58 West Street, Havant, Hampshire PO9 1PGFreehold Retail and Residential Investment
Price
£500,000
Rent P.A.
£28,000
Yield
5.60%
Tenure
Freehold
Lease Term
10 Years
Years Left on Lease
9y 10m
Area
1,976 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor retail shop and a self-contained flat at first floor
- Includes car park at rear for c. 6-7 cars
- Central location close to public car parks, bus and rail stations
- Nearby occupiers include McDonalds, Thomas Cook and British Heart Foundation.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor retail shop and residential flat at first floor. The flat is separately accessed from the rear and provides 3 Rooms, kitchen and bathroom. The property includes large car parking at rear for c.6-7 cars and provides the following accommodation and dimensions:
Ground Floor: 138 sq m (1,480 sq ft)
Open plan retail, storage, wc
First Floor Flat: 46 sq m (496 sq ft)
3 Rooms, Kitchen, Bathroom
Total GIA: 184 sq m (1,976 sq ft)
Ground Floor: 138 sq m (1,480 sq ft)
Open plan retail, storage, wc
First Floor Flat: 46 sq m (496 sq ft)
3 Rooms, Kitchen, Bathroom
Total GIA: 184 sq m (1,976 sq ft)
Tenancy Description
The property is at present let to Malbari Limited (with personal guarantee) for a term of 10 years from 14th October 2024 at a current rent of £28,000 p.a. and the lease contains full repairing and insuring covenants. Rent review in the 5th year open market upward only. Tenant break option in the 5th year with min 6 months notice. Deposit held of £7,000. Lease within Landlord & Tenant Act 1954.
Tenancies & Accommodation
Location Description
Havant is strategically located on the A27/M27/A3(M) and forms part of the extensive M27 / Solent corridor, providing easy access to Portsmouth, Southampton and London. Havant benefits from a mainline railway station with direct trains to London and the south coast. The property is situated in the centre of Havant, on the northern side of West Street. There is public car parking nearby and the railway station is located a short distance from the premises. Nearby occupiers include McDonalds, Thomas Cook and British Heart Foundation.
