Guide price
£740,000
(£352.72/sq. ft)
Office for saleMarket Place, Romsey SO51
2,098 sq. ft
About this property
Prime located retail invesment with upper floor vacant offices
Vacant upper floor offices of 2,098 sqft
2 shops let producing rental income of £47,500 pa
Shops let until 2029 and 2034
Located close many national and independent retailers
Close to Specsavers, Cafe Nero, Boots, Bradbeer Dept store and others
Romsey is a busy market town where there has been an increase in the residential population following recent residential development. The town is located approx. 7 miles north of Southampton, 11 miles south west of Winchester and 17 miles south of Salisbury. It is approx. 3 miles from J3 of the M27/M271.
The property is located in a prime busy town centre trading location fronting on to the section of Market Place which links into The Hundred. Romsey market also operates 3 days per week opposite the property in The Cornmarket. The property is opposite Café Nero and next to Specsavers Opticians. Other neighbouring occupiers include tg Jones, Costa Coffee, Waterstones. The property is also close to the Bradbeer Department store and within a short walking distance of Waitrose, Co-Op and Aldi supermarkets.
There are various car parks serving the town centre and some on-street car parking in various locations of the town.
Description
The property comprises a 4 storey Grade II Listed building providing two ground floor lock-up shops together with self-contained offices on three upper floors. The offices are accessed via a separate entrance from Market Place and have previously been used as both offices and also beautician treatment rooms. Some of the offices have laminate floors (installed over existing carpets). The offices have electric heating with WC’s and shower on the first floor.
There is the potential for the vacant upper floors to be converted in residential accommodation subject to planning permission being granted.
Ground floor - 2 shops let and occupied
Vacant upper floor offices
market chambers
First Floor
5 Offices 72.74 sq m 783 sq ft
2 Kitchens 7.62 sq m 82 sq ft
WC's
Second Floor
3 Offices 70.98 sq m 764 sq ft
Third Floor
3 Offices (44 ft2 have a clear head room of less than 1.5m) 43.57 sq m 469 sq ft
Total Office Net Floor Area 194.9 sq m 2,098 sq ft
Energy Performance Certificate
The property has various energy performance asset ratings as follows:
21 Market Place - 68 (band C) - Expires 2035
21A Market Place - 53 (band C) - Expires 2034
Market Chambers 21A Market Place - 83 (band D) Expires 2033
A copy of the certificates are available for inspection.
Business Rates
The voa have assessed the business premises on the 2023 Rating List with the following Rateable Values:
21 Market Place - £17,250
21A Market Place - £11,250
Market Chambers 21A Market Place - £23,750
Lease Details
The two ground floor shops are let producing a rental income fo £47,500 pa. Full details can be provided. The property is being sold with vacant possession of the upper floors.
Tenure Freehold
Proposal
The freehold is offered for sale with a guide price of £740,000 subject to contract. The property is not elected for VAT.
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