Commercial property for sale in Southampton

** For sale by public auction on 12th December at 12:00 **  Location & Description This prime freehold parcel of land in Southampton presents a rare development opportunity with excellent long-term income potential.   The property benefits from a secure annual rent of £92,300, backed by a 15-year lease signed by the Inclusion Housing Board, with a 10-year break clause offering flexibility. Inclusion Housing is also agreeable to a 10-year lease with a 5-year break clause with annual rent reviews capped at 4 % or CPI, whichever is the lower.  Development progress is already underway, with foundations completed, and Southampton City Council's Planning Department has confirmed that planning permission has been fully implemented. Additionally, a Party Wall Award has been completed and issued, ensuring there are no disputes with neighbouring properties.  Furthermore, the site is exempt from Community Infrastructure Levy (CIL) payments, as confirmed by the council, due to social housing relief, making it even more cost-effective for the developer.   Accommodation The development will consist of five one-bedroom assisted living flats, featuring curved double-aspect living areas.   The ground floor will include a communal area, office, staff restroom, and access to a lift and stairs leading to the upper levels.   On the first floor, there will be two one-bedroom apartments with floor areas of 39.6 sq m and 46.6 sq m.   The second floor will also house two one-bedroom apartments, each with the same floor areas of 39.6 sq m and 46.6 sq m. The third and final floor will contain the last one-bedroom apartment, measuring 49.4 sq m.  Note Auction Surveyor: Bryn Nettle Contact: bryn.   Viewing Times Brochures Legal Documents

Commercial property for sale in Southampton, England

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