Available
Southampton – Barber Shop
432 Bitterne Road, Southampton, Hampshire SO18 1BSVirtual Freehold Retail Investment
Price
£180,000
Rent P.A.
£15,000
Yield
8.33%
Tenure
Leasehold
Lease Term
10 Years
Years Left on Lease
8y 4m
Area
690 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor shop t/a barbers.
- Let until 2033. Rent review linked to RPI in 2028.
- Nearby occupiers include Lloyds Bank, Pure Gym, Iceland and Superdrug, amongst others.
Key Features
Tenure
Leasehold
VAT
VAT is not applicable.
Property Description
Comprises ground floor shop t/a barbers, providing the following accommodation and dimensions:
Ground Floor: 64 sq m (690 sq ft)
Open plan retail, reception, storage
Ground Floor: 64 sq m (690 sq ft)
Open plan retail, reception, storage
Tenancy Description
No. 432 Shop is at present to an Individual for a term of 10 Years from 2nd May 2023 at a current rent of £15,000 p.a. and the lease contains full repairing and insuring covenants. Rent review linked to RPI in May 2028. Tenant option to determine in May 2028 with min 6 months notice. Deposit held of £3,750. Lease within Landlord & Tenant act 1954.
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn
Tenure:
Long leasehold. To be held on a 999 year lease from completion at a ground rent of peppercorn
Tenancies & Accommodation
Location Description
Southampton is the main commercial and administrative centre of Hampshire and is located 70 miles south-west of Central London. Bitterne is a suburb located to the east of the City Centre. The city benefits from excellent road communications via the M27 and M3 Motorways. Bitterne Rail Station provides regular services to London via Southampton. The property is situated on the south side of Bitterne Road fronting the pedestrianised section, in the heart of the retail area. Nearby occupiers include Lloyds Bank, Pure Gym, Iceland, Specsavers and Superdrug, amongst many more.
