£1,350,000
(£3,358.21/sq. ft)
Retail premises for sale147 High Street, Winchester SO23
402 sq. ft
EPC Rating: D
Freehold
About this property
Mixed use residential and retail investment
Prime high street location
Two let upper floor flats
Close to Marks & Spencer and Sainsbury's
Total Income £69,940 per annum
Net Initial Yield 4.8% after purchaser's costs of 6.2%
Estimated Rates Payable: £13724.28
Description
The accommodation is set over three floors comprising a good size ground floor retail unit with two flats above.
Ground Floor Retail Unit
Let on a 10 year Fri lease at a rent of £49,000* pax, from 04/05/18 until 08/05/2028, providing 6.75 years unexpired lease term. The flats are let on AST’s at the following rents.
Flat 1
First Floor 2 bedroom flat let at £950pcm (£11,400 pax)
Flat 2
Second Floor 1 bedroom flat let at £795pcm (£9,540 pax)
* The passing rent is subject to stepped rent concessions over the remaining term which will be topped up by the vendor on completion.
Location
The premises occupy a prime City Centre location immediately adjacent to Card Factory, with nearby occupier including British Heart Foundation and Chococo, close to Marks & Spencer and Sainsbury ’s and opposite a new hotel development. The property is situated within the partially pedestrianised section of the High Street close to the junction with Middle Brook Street that leads through to the Brooks Shopping Centre.
Located to the Eastern end of Winchester High Street the property is 10 minutes walk to the mainline railway station which provides services to Southampton (15 minutes), Basingstoke (15 minutes) and London Waterloo (1 hour). Winchester benefits from an extensive road network with access to the M3 Motorway at Junction 9 and 10 located 3 miles distant. Junction 9 at Winnall provides access to the A34, A31 and A272. There are two park and ride schemes operating from the South of the City and the Chesil Street public car park is a 5 minute walk.
The accommodation is set over three floors comprising a good size ground floor retail unit with two flats above.
Ground Floor Retail Unit
Let on a 10 year Fri lease at a rent of £49,000* pax, from 04/05/18 until 08/05/2028, providing 6.75 years unexpired lease term. The flats are let on AST’s at the following rents.
Flat 1
First Floor 2 bedroom flat let at £950pcm (£11,400 pax)
Flat 2
Second Floor 1 bedroom flat let at £795pcm (£9,540 pax)
* The passing rent is subject to stepped rent concessions over the remaining term which will be topped up by the vendor on completion.
Location
The premises occupy a prime City Centre location immediately adjacent to Card Factory, with nearby occupier including British Heart Foundation and Chococo, close to Marks & Spencer and Sainsbury ’s and opposite a new hotel development. The property is situated within the partially pedestrianised section of the High Street close to the junction with Middle Brook Street that leads through to the Brooks Shopping Centre.
Located to the Eastern end of Winchester High Street the property is 10 minutes walk to the mainline railway station which provides services to Southampton (15 minutes), Basingstoke (15 minutes) and London Waterloo (1 hour). Winchester benefits from an extensive road network with access to the M3 Motorway at Junction 9 and 10 located 3 miles distant. Junction 9 at Winnall provides access to the A34, A31 and A272. There are two park and ride schemes operating from the South of the City and the Chesil Street public car park is a 5 minute walk.
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