Property for sale in Miller Drive, Fareham, Hampshire PO16

Located in a popular residential area of Fareham, this substantial freehold block comprises seven flats and seven shops. Five of the flats have been sold under the terms of long leases, with the remaining two let under the terms of Assured Shorthold Tenancy Agreements.

Commercial

98 miller drive

Ground floor
tenancy

Let to a convenience store under the terms of a 15-year lease, from 25th September 2013, at a current rental of £10,000 per annum.

102 miller drive

Tenancy

Let to a health and beauty clinic under the terms of an 18-year lease, from 26th November 2007, at a current rental of £10,000 per annum.

106 miller drive

Tenancy

Let to a barber shop under the terms of a five-year lease from 25th March 2022 at a current rental of £11,000 per annum.

110 miller drive

Tenancy

Let to a coffee shop under the terms of a five year lease from 25th March 2022 at a current rental of £11,000 per annum.

Auctioneer’s note
The rents stated for 102,106 and 110 are reflective of those agreed by the landlord as a rent reduction during the Covid pandemic. These rents have never returned to the figures stipulated in the lease, which are £12,500 per annum, per property.

Further details including copies of the leases will be included in the legal documents, available to download from the Clive Emson website.
114,118 & 122 miller drive

Tenancy

All three units are occupied by the same tenant (the Day Nursery) and are let under the terms of a 28-year lease from 19th July 2004 at a current rental of £30,000 per annum.

First floor residential

Flats 100,104,112,116 & 124

Tenure

All five flats are sold under the terms of 125-year leases from 29th September 1985 at a current ground rental of £50 per flat per annum.

Flat 108
Living/dining room, kitchen, two bedrooms and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £700 per calendar month.

Flat 120
Living/dining room, kitchen, two bedrooms and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £700 per calendar month.

To be sold at auction with clive emson: Full details and legal pack available at cliveemson.co.uk<br /><br />