Office for sale in Bitterne Road East, Southampton, Hampshire SO18
* Calls to this number will be recorded for quality, compliance and training purposes.
Property features
- Freehold Investment Sale
- Guide Price - £495,000
- Current rental income - £29,300
- Gy of c. 6%
- Capital value of £203 psf
- WAULT of 8 years & 4 months
- Suitable for a sipp
- Recognised covenant in occupation since 1997
- Substantial detached period building
- Property approx. 2,432 sq. Ft. / 226 sq. M.
Property description
An impressive period building on a plot of approximately 4,000 sq. Ft., believed to date from the mid-Victorian era, which has been occupied by a funeral director for over 60 years.
It comprises a reception space and two large waiting rooms on the ground floor, along with ancillary rooms to the rear which are linked to the occupier’s business plus a disabled access WC. On the first floor are a series of offices, kitchen, M&F WCs, staff room and boardroom. The property benefits from gas central heating, double glazing and fitted carpets and also offers period features including high ceilings and cornicing detail on the ground floor.
Externally there is a private car park for approximately 6 vehicles.
Accommodation
We have identified an approximate internal area of 2,432 sq. Ft. / 226 sq. M.
Tenure
We are instructed to seek offers of £495,000 for the freehold interest, subject to the existing occupational lease, which represents a capital value of £203 psf and a gross yield of almost 6%, before purchaser’s costs.
Title information
Freehold Title is HP398010 and Leasehold Title is HP549095. A data room is available, with details on request.
EPC rating
A new energy performance assessment is being commissioned.
Rateable value
According to the Valuation Office Agency website, the property has a rateable value of £25,250, valid from 1st April 2023.
Legal costs and VAT
Each party is expected to bear their own legal costs in this transaction.
It is to be established if the property is elected for VAT purposes. In any event, we would anticipate that the sale will be dealt by way of a togc.
Viewings
No direct approach to the occupier is permitted. All enquiries and appointments to view must be made by contacting Trinity Rose Commercial on or by emailing <br /><br />
Property info
For more information about this property, please contact
Trinity Rose Commercial, SO53 on +44 23 8210 0395 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Trinity Rose Commercial, and do not constitute property particulars. Please contact Trinity Rose Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.