Acquired
Lymington – Retail Shop & Residential Ground Rent
31/31A St Thomas Street, Lymington, Hampshire SO41 9NEFreehold Retail & Ground Rent Investment
Investment Consideration
- Sale Leaseback. Property was owned by an owner occupier. The tenant has been in occupation since 2017.
- Grade II Listed building comprising ground floor retail shop with ancillary accommodation above
- Nearby occupiers include Waitrose Superstore, M&S Simply Food, Domino`s Pizza and many more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor retail shop with first and second floor residential flat (sold off). The property benefits from rear yard and additional external storage, providing the following accommodation and dimensions:
Ground Floor Shop: 55 sq m (582 sq ft)
Open plan retail, storage, kitchenette, WC
First Floor and Second Floor Flat: 110 sq m (1,184 sq ft)
Two bedrooms, kitchen, bathroom
Ground Floor Shop: 55 sq m (582 sq ft)
Open plan retail, storage, kitchenette, WC
First Floor and Second Floor Flat: 110 sq m (1,184 sq ft)
Two bedrooms, kitchen, bathroom
Tenancy Description
The property will be sold and leased back by the existing owner occupier for a term of 15 years from successful sale completion at agreed rent of £18,000 per annum on a full repairing and insuring lease. Rent review every 5 years open market, upward only. Tenant option to determine on the 10th anniversary with minimum 6 months’ notice.
Well Natural has another location in Salisbury. For more information please refer to www.wellnatural.co.uk
Well Natural has another location in Salisbury. For more information please refer to www.wellnatural.co.uk
Tenancies & Accommodation
Location Description
The Georgian market town of Lymington is set on the coast in the beautiful New Forest National Park, between Southampton and Bournemouth. Famous for its sailing history, there are two large marinas filled with fishing boats and yachts, as well as two sailing clubs. Lymington High Street has several independent shops and designer boutiques, as well as a local market held each Saturday which dates back to the 13th century. The property is located on the north side of St Thomas Street, with occupiers nearby including Waitrose Superstore, M&S Simply Food, Domino`s Pizza and Boots Pharmacy, amongst many more retailers.
