£375,000
(£526.69/sq. ft)
Property for saleChurch Street, Romsey, Hampshire SO51
712 sq. ft
Available immediately
Freehold
About this property
Town Centre Location
Initial Yield of 8.44% excluding purchasers costs.
Listed Building With Character Features
Strong Retail Tenant Covenant
This investment property comprises a three-storey Grade II listed building generating a total income of £31,620 per annum from a ground-floor retail unit and 2x two bedroom flats.
One flat is let on an assured shorthold tenancy at an annual rent of £11,820 per annum. The other flat is sold off on a long lease. The owner pays a ground rent of £50 per annum.
The 712 sq ft shop has frontage to Church Street and is visible from Market Place. It is let to Tidal Vapes Limited on a 7-year lease from April 2023, expiring April 2030, at a rent of £19,800 per annum. There is a tenant-only break option in April 2028. The lease is on effective full repairing and insuring terms. The rent is subject to an upwards-only review in April 2028. The lease is available to review upon request.
The tenant offers a very good covenant, with a Credit Safe Risk Score of 79 (placing it in the upper 25% of 22,420 comparable companies) and an International Score of 'A' (very low risk).
Details of the current service charge and sinking fund arrangements are available upon request.
Please find the tenancy schedule overleaf.
One flat is let on an assured shorthold tenancy at an annual rent of £11,820 per annum. The other flat is sold off on a long lease. The owner pays a ground rent of £50 per annum.
The 712 sq ft shop has frontage to Church Street and is visible from Market Place. It is let to Tidal Vapes Limited on a 7-year lease from April 2023, expiring April 2030, at a rent of £19,800 per annum. There is a tenant-only break option in April 2028. The lease is on effective full repairing and insuring terms. The rent is subject to an upwards-only review in April 2028. The lease is available to review upon request.
The tenant offers a very good covenant, with a Credit Safe Risk Score of 79 (placing it in the upper 25% of 22,420 comparable companies) and an International Score of 'A' (very low risk).
Details of the current service charge and sinking fund arrangements are available upon request.
Please find the tenancy schedule overleaf.
Mortgage calculator
Monthly repayment
£1,875 per month
Whole of market comparison
70+ lenders and 10,000+ products
How much could I borrow
In partnership with
The monthly repayments provided are estimates and should be used as a guide only. The actual amount you can borrow will depend on your personal financial situation and subject to a full application. For a more precise estimate, please use the Mojo mortgage calculator. Your home or property may be repossessed if you do not keep up repayments on your mortgage.
.png){kind=logo}