Retail premises for sale in Bedford Place, Southampton SO15
Guide price
£695,000 (£2,473.31/sq. ft)
Investment
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Retail premises for sale
Property description
Location:
The property is situated on the east side of this popular thoroughfare, between the junctions of Carlton Crescent and Carlton Place and
virtually opposite Canton Street. This is a busy trading area, having a high footfall, benefitting from numerous office occupiers, student
accommodation buildings and tourists alike.
Bedford Place is also close to various city centre shopping malls such as Marlands, West Quay and pedestrianised Above Bar. The Law Courts, Watts Park and the mainline railway station (Southampton Central) are all within easy walking distance.
Access to the M27 (junction 3) via Mountbatten Way (triple carriageway) is within ten minutes driving distance, allowing all parts of the Solent Region to be reached swiftly and further afield via the M3 and national motorway network. Eastleigh Parkway railway station (London
Waterloo about 65 minutes) and Southampton Airport serve both national and continental flights and are both close to J5 of the M27.
Description:
A mid terraced two storey building constructed we believe in the late 19th century. The building provides two lock-up shop units, both in very good order throughout.
The first floor, approached via Bedford Place (or to the rear from Upper Bannister Street) is arranged as two newly constructed flats, both offering accommodation of an exceptionally high standard; see photos.
Finally, there is a basement storage area, totalling some 95 square feet, ideal for tenant’s bin or bike storage.
It should be noted that the entire building has been the subject of considerable expenditure which has included the roof, windows, front and rear elevations and all internal common areas making for a bright and modern environment. Consequently, little expenditure is expected both internally or externally in the short to medium term.
Floor areas:
Commercial Property 30B Bedford Place:
Main sales area: 380 square feet
Ancillary: 305 square feet, inc toilet and storeroom
Total: 685 square feet.
Commercial Property 30 Bedford Place:
Main sales area: 202 square feet
Ancillary: 79 square feet, inc toilet and kitchenette.
Total: 281 square feet.
Flat 1:
Approached via the front entrance on Bedford Place, this first floor one bedroom flat has been flawlessly designed, benefitting from a spacious kitchen/dining/living area plus bathroom, having a floor area of approximately 455 square feet/42.2 square metres. An additional storeroom is included on the first floor.
Flat 2:
Approached via the front entrance on Bedford Place, this first floor two bedrooms flat has been flawlessly designed, benefitting from a spacious kitchen/dining/living area plus bathroom, having a floor.
Lease terms:
30B Bedford Place:
Occupied by Antonio Gashi on a new Fri lease, granted for a term of 5 years from 5th July 2024 subject to a tenant's lease break option on
4th July 2027 (six months prior written notice required).
The annual rent is £15,000 per annum payable quarterly in advance. Not plus VAT.
30 Bedford Place:
Occupied by Charles Plant Ltd., plus guarantor, on a new Fri lease, granted for a term of 10 years from 4th July 2024 subject to a tenant's
lease break option at the end of the fifth year (six months prior written notice required).
The annual rent is £7,700 per annum payable quarterly in advance, but rising annually, terms on request. Not plus VAT.
Flat 1:
Occupied on an AST for a term of 12 months from 1st January 2024, the monthly rent being £1,050 pcm (£12,600 per annum).
Flat 2:
Occupied on an AST for a term of 12 months from 2nd April 2024, the monthly rent being £1,225 pcm (£14,700 per annum).
Total rental income:
£50,000 per annum, rising annually (30).
Rates:
According to enquiries of the voa, the Rateable Values are as follows:
Unit 30B: £11,500 - rv, Unit 30: £6,300 - rv
Flat 1: Band A, Flat 2: To be confirmed.
EPC:
Band C for all commercial premises and both flats.
Price:
Offers in the region of £695,000 are invited, subject to contract. This figure reflects a niy of 6.83%.
Additional:
Copies of the Title Deeds, Title Plans, leases, AST’s and the recent refurbishment programme are available, on request.
Viewing:
Strictly by appointment with the vendor's Joint Sole Agents - James Scott of Newton Scott, tel:, or mob:, or Graham Jacobs of Trafalgar Property Consultancy, tel:, or .
The property is situated on the east side of this popular thoroughfare, between the junctions of Carlton Crescent and Carlton Place and
virtually opposite Canton Street. This is a busy trading area, having a high footfall, benefitting from numerous office occupiers, student
accommodation buildings and tourists alike.
Bedford Place is also close to various city centre shopping malls such as Marlands, West Quay and pedestrianised Above Bar. The Law Courts, Watts Park and the mainline railway station (Southampton Central) are all within easy walking distance.
Access to the M27 (junction 3) via Mountbatten Way (triple carriageway) is within ten minutes driving distance, allowing all parts of the Solent Region to be reached swiftly and further afield via the M3 and national motorway network. Eastleigh Parkway railway station (London
Waterloo about 65 minutes) and Southampton Airport serve both national and continental flights and are both close to J5 of the M27.
Description:
A mid terraced two storey building constructed we believe in the late 19th century. The building provides two lock-up shop units, both in very good order throughout.
The first floor, approached via Bedford Place (or to the rear from Upper Bannister Street) is arranged as two newly constructed flats, both offering accommodation of an exceptionally high standard; see photos.
Finally, there is a basement storage area, totalling some 95 square feet, ideal for tenant’s bin or bike storage.
It should be noted that the entire building has been the subject of considerable expenditure which has included the roof, windows, front and rear elevations and all internal common areas making for a bright and modern environment. Consequently, little expenditure is expected both internally or externally in the short to medium term.
Floor areas:
Commercial Property 30B Bedford Place:
Main sales area: 380 square feet
Ancillary: 305 square feet, inc toilet and storeroom
Total: 685 square feet.
Commercial Property 30 Bedford Place:
Main sales area: 202 square feet
Ancillary: 79 square feet, inc toilet and kitchenette.
Total: 281 square feet.
Flat 1:
Approached via the front entrance on Bedford Place, this first floor one bedroom flat has been flawlessly designed, benefitting from a spacious kitchen/dining/living area plus bathroom, having a floor area of approximately 455 square feet/42.2 square metres. An additional storeroom is included on the first floor.
Flat 2:
Approached via the front entrance on Bedford Place, this first floor two bedrooms flat has been flawlessly designed, benefitting from a spacious kitchen/dining/living area plus bathroom, having a floor.
Lease terms:
30B Bedford Place:
Occupied by Antonio Gashi on a new Fri lease, granted for a term of 5 years from 5th July 2024 subject to a tenant's lease break option on
4th July 2027 (six months prior written notice required).
The annual rent is £15,000 per annum payable quarterly in advance. Not plus VAT.
30 Bedford Place:
Occupied by Charles Plant Ltd., plus guarantor, on a new Fri lease, granted for a term of 10 years from 4th July 2024 subject to a tenant's
lease break option at the end of the fifth year (six months prior written notice required).
The annual rent is £7,700 per annum payable quarterly in advance, but rising annually, terms on request. Not plus VAT.
Flat 1:
Occupied on an AST for a term of 12 months from 1st January 2024, the monthly rent being £1,050 pcm (£12,600 per annum).
Flat 2:
Occupied on an AST for a term of 12 months from 2nd April 2024, the monthly rent being £1,225 pcm (£14,700 per annum).
Total rental income:
£50,000 per annum, rising annually (30).
Rates:
According to enquiries of the voa, the Rateable Values are as follows:
Unit 30B: £11,500 - rv, Unit 30: £6,300 - rv
Flat 1: Band A, Flat 2: To be confirmed.
EPC:
Band C for all commercial premises and both flats.
Price:
Offers in the region of £695,000 are invited, subject to contract. This figure reflects a niy of 6.83%.
Additional:
Copies of the Title Deeds, Title Plans, leases, AST’s and the recent refurbishment programme are available, on request.
Viewing:
Strictly by appointment with the vendor's Joint Sole Agents - James Scott of Newton Scott, tel:, or mob:, or Graham Jacobs of Trafalgar Property Consultancy, tel:, or .
Property info
* Sizes listed are approximate. Please contact the agent to confirm actual size.
Arrange Viewing
For more information about this property, please contact
Newton Scott, SO15 on +44 23 8234 9113 * (local rate)
Disclaimer
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Newton Scott, and do not constitute property particulars. Please contact Newton Scott 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.
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