Retail premises for sale in Hamble Lane, Hamble, Southampton SO31

Description

The property is situated in Hamble and approximately 3 miles south of the M27, Junction 8 providing excellent accessibility to the motorway network in all directions. The premises are located fronting a busy main road (Hamble Lane) surrounded by an established residential district. Local shopping is available close by at the Coronation Parade.

The property consists of two storey building, with a commercial unit on the ground floor, with a self contained 3 bedroom residential apartment above. Benefits include parking spaces at the front of the premises, with a shared access driveway, leading to further parking at the rear and a garage. The Ground floor is currently configured as a Veterinary Practice, let to cvs (UK) Ltd, with the first floor residential apartment being let on an informal lease at present. The residential property includes three good sized bedrooms, with a beautifully presented lounge and kitchen area.

Residential flat accessed separately to the rear of the property.

Accommodation

Ground Floor - 819 sq.ft (76.05 sq.m)
Garage - 303 sq.ft (28.18 sq.m)
Total Commercial Area - 1,122 sq.ft (104.23 sq.m)

Rating

Rateable Value £10,750
Source The 2024/2025 small business multiplier is 0.499 (4.99p payable per £1).

Terms

Offers in excess of £450,000 subject to contract for the freehold interest with vacant posession on completion. A purchase made at the asking price will reflect a 7.1% net initial yield, assuming the flat is tenanted at market rent.

Viewing / Further Information

Contact Dominic Arkell

Planning

Under the new planning regulations, we believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, café, health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.

Asset Rating Commercial D (97)
Residential D (61)

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Mixed Use Investment Opportunity