£650,000
(£262.63/sq. ft)
Retail premises for saleLenten Street, Alton, Hampshire GU34
2,475 sq. ft
Just added
Freehold
About this property
Freehold investment sale
Guide price – oiro £650,000
Current rental income - £44,000 pa
Existing niy – c. 6.5%
Reversionary niy – c. 8%+
Erv £54,000 pa
Mixed-use (commercial plus residential) opportunity
Two shops (one is vacant)
Three residential units (all let)
NIA of 230 Sq. M / 2,475 Sq. Ft
Looking to invest in Alton, Hampshire? Come and discover an interesting mixed-use opportunity close to the Market Square and High Street - call us now for further information.
We are appointed as sole agents to dispose of a mixed-use freehold investment in Alton, Hampshire. The building appears to be of original design and is of brick elevations under a pitched and tiled roof. It comprises two ground floor retail units, both of which front Lenten Street and enjoy good visibility. One is occupied by the Alton Clock Shop who have been in occupation for many years, while the second unit is presently vacant and was most recently let to Austen’s Café. Also owned within the freehold title are two apartments in the main building (a 1-bed plus a 2-bed), along with the Old Forge to the rear, which is a detached 1-bed conversion property.
We believe there may be an opportunity to improve the rental income on the residential aspect, and by securing a new tenant in the vacant shop (or potentially converting it to residential use STP). Our erv is £54,000 pa, while the existing rental income is £44,000 pa.
Situation
The subject property is found in central Alton, a short stroll from the Market Square and only 160m from the High Street, which has a range of retailers, cafes, independent restaurants and national brands. Nearby businesses include The Wheatsheaf Public House, Pizza Express, Mifta’s Fine Indian Dining, Market Hotel, Ten Tun Hop House and Dill café. Alton is situated just off the A31,10 miles south-west of Farnham, 12 miles south-east of Basingstoke and 17 miles north-west of Winchester. It has a mainline train station with routes into London 1 mile away, and the town is also well served by public buses.
Accommodation
We have identified the following approximate areas:
7 Lenten Street (vacant shop): 39 sq m / 419 sq ft
9 Lenten Street (Clock Shop): 43 sq m / 462
Flat 1,5 Lenten Street: 38 sq m / 409 sq ft
Flat 2,5 Lenten Street: 45 sq m / 484 sq ft
The Old Forge / 5a Lenten Street: 65 sq m / 699 sq ft
Tenure
We are instructed to seek offers for the freehold interest in Title Number HP560087 in the region of £650,000, subject to contract and to include any subsisting leases. This equates to a capital value psf of £262 and 6.5% niy after standard purchaser’s costs.
Legal costs & VAT
Each party is expected to bear their own legal costs in this transaction. It is to be confirmed if the property is elected for VAT purposes.
EPC ratings
7 Lenten Street: C (67)
9 Lenten Street: B (36)
Flat 1,5 Lenten Street: E (47)
Flat 2,5 Lenten Street: E (47)
The Old Forge / 5a Lenten Street: D (56)
Rateable value / council tax
Online enquiry via the Valuation Office Agency indicates a rateable value of £5,100 and £4,700 for the respective shops and the residential units are in Council Tax Band B.
Viewings
Viewings strictly by appointment with sole agents Trinity Rose Commercial on . No approach to the current occupiers is permitted.
We are appointed as sole agents to dispose of a mixed-use freehold investment in Alton, Hampshire. The building appears to be of original design and is of brick elevations under a pitched and tiled roof. It comprises two ground floor retail units, both of which front Lenten Street and enjoy good visibility. One is occupied by the Alton Clock Shop who have been in occupation for many years, while the second unit is presently vacant and was most recently let to Austen’s Café. Also owned within the freehold title are two apartments in the main building (a 1-bed plus a 2-bed), along with the Old Forge to the rear, which is a detached 1-bed conversion property.
We believe there may be an opportunity to improve the rental income on the residential aspect, and by securing a new tenant in the vacant shop (or potentially converting it to residential use STP). Our erv is £54,000 pa, while the existing rental income is £44,000 pa.
Situation
The subject property is found in central Alton, a short stroll from the Market Square and only 160m from the High Street, which has a range of retailers, cafes, independent restaurants and national brands. Nearby businesses include The Wheatsheaf Public House, Pizza Express, Mifta’s Fine Indian Dining, Market Hotel, Ten Tun Hop House and Dill café. Alton is situated just off the A31,10 miles south-west of Farnham, 12 miles south-east of Basingstoke and 17 miles north-west of Winchester. It has a mainline train station with routes into London 1 mile away, and the town is also well served by public buses.
Accommodation
We have identified the following approximate areas:
7 Lenten Street (vacant shop): 39 sq m / 419 sq ft
9 Lenten Street (Clock Shop): 43 sq m / 462
Flat 1,5 Lenten Street: 38 sq m / 409 sq ft
Flat 2,5 Lenten Street: 45 sq m / 484 sq ft
The Old Forge / 5a Lenten Street: 65 sq m / 699 sq ft
Tenure
We are instructed to seek offers for the freehold interest in Title Number HP560087 in the region of £650,000, subject to contract and to include any subsisting leases. This equates to a capital value psf of £262 and 6.5% niy after standard purchaser’s costs.
Legal costs & VAT
Each party is expected to bear their own legal costs in this transaction. It is to be confirmed if the property is elected for VAT purposes.
EPC ratings
7 Lenten Street: C (67)
9 Lenten Street: B (36)
Flat 1,5 Lenten Street: E (47)
Flat 2,5 Lenten Street: E (47)
The Old Forge / 5a Lenten Street: D (56)
Rateable value / council tax
Online enquiry via the Valuation Office Agency indicates a rateable value of £5,100 and £4,700 for the respective shops and the residential units are in Council Tax Band B.
Viewings
Viewings strictly by appointment with sole agents Trinity Rose Commercial on . No approach to the current occupiers is permitted.
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