Commercial property for sale in Southampton

SUMMARY AUCTION SALE 15 April 2025 - THE SELLER RESERVES THE RIGHT TO SELL LOTS 76 TO 79 AS ONE LOT, A Selection of Four Retail Investments, Part of Modern Development, Prominent and Busy Retail Location. DESCRIPTION THE SELLER RESERVES THE RIGHT TO SELL LOTS 76 TO 79 AS ONE LOT, A Selection of Four Retail Investments, Part of Modern Development, Prominent and Busy Retail Location. Location: The property forms part of the main retail area of Bitterne a busy part of Southampton with multiple retailers in the locality including Iceland, Pizza Hut, Coral, and many others. This is the main retail centre for Bitterne which provides services to a densely populated immediate catchment and outlying areas. Description: Each of the lots provides a ground floor retail unit within this modern building. Each unit has a good frontage within this busy shopping location with strong passing pedestrian trade. Tenure: Each unit will be sold on a new lease for a term of 999 years at a ground rent of £250 per annum (see note). Note: The Seller is the freeholder of the building. Following these sale, they shall serve requisite notices under the Landlord and Tenant Act enabling them to then sell the freehold ground rent investment at the earliest available opportunity. Accommodation/ Tenancy: Lot 78 Address Unit 3 Red Lion Court, 449 Bitterne Road Accommodation Retail Zone A 34.6 sq. m (372 sq. ft) Retail Zone B 33.1 sq. m (356 sq. ft) Retail Zone C 1.7 sq. m (18 sq. ft) TOTAL 69.4 sq. m (747sq. ft) Tenancy Let to G Issa with guarantor for 20 years from 23/12/2023. Rent £ pa £11,500 Reviews/ Notes RPI rent reviews every 5 years. Note a rent deposit of £11,500 is held together with guarantor in place. No break option. Important Notice: For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this. The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price. Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at. When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this. Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers. Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk. 1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property. 3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture. 4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase. 5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY. 1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale. 2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property. 3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture. 4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase. 5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY. Brochures Full Details

Commercial property for sale in Southampton, England

Commercial property for sale

Description

Need Broker Assistance?