Retail premises for sale in 103 London Road, Waterlooville, Hampshire PO7

Description

The property is situated in a pedestrianised section of London Road, Waterlooville, in close proximity to the junction with The Boulevard precinct. This section of London Road is occupied by a mix of national and independent retailers.

The property is a two storey end terrace retail unit. It's configured to provide main retail area, office/kitchen, rear store.

Stairs lead from the rear of the retail area to the first floor which comprises a landing, WC, and three cellular rooms. The property benefits from a single storey extention to the rear and a large car park

Accommodation

NIA - 1,059 sq.ft (98.40 sq.m)

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.

EPC Text

Asset Rating E (114)

Rating

Rateable Value £6,800
Source The 2024/2025 small business multiplier is 0.499 (4.99p payable per £1).

Terms

Offers considered in the region of £168,000 subject to contract for the freehold interest and subject to the agreements outlined.

A purchase at this level shows a Net Initial Yield of 10.9%, after usual buyers costs.

Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.

Property let by way of a lease dated 25th December 2016 for a term of 10 years at a passing rent of £18,750 per annum, expiring 24th December 2026. The tenant is an individual trading as Finishing Touch.

The lease is subject to an open market upward only rent review on the 25th December 2021.