£395,000
(£554.78/sq. ft)
Property for saleChurch Street, Romsey, Hampshire SO51
712 sq. ft
Available immediately
Freehold
About this property
Town Centre Location
Net Initial Yield of 8.02% excluding purchasers costs.
Listed Building With Character Features
Strong Retail Tenant Covenant
The property is a three storey listed building. The 712 sq ft shop has frontage to Church Street and is visible from Market Place. The shop provides a combination of sales and storage areas with staff facilities to the rear of the property.
The shop 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).
There are two 2 bedroom flats, one of which 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 tenant's total combined service charge contribution is currently £8,866 per annum. Details of the service charge and sinking fund are available upon request.
Please find the tenancy schedule overleaf.
The shop 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).
There are two 2 bedroom flats, one of which 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 tenant's total combined service charge contribution is currently £8,866 per annum. Details of the service charge and sinking fund are available upon request.
Please find the tenancy schedule overleaf.
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