Commercial property for sale in Southampton

Freehold commercial investment for sale, with substantial lease term to run and recognised convenant in occupation. The property and land may lend themselves to future residential conversion. subject to planning consent being obtained. An impressive period building on a plot of approximately 4,000 sq. ft., believed to date from the mid-Victorian era, which has been occupied by a funeral director for over 60 years. It comprises a reception space and two large waiting rooms on the ground floor, along with ancillary rooms to the rear which are linked to the occupier’s business plus a disabled access WC. On the first floor are a series of offices, kitchen, M&F WCs, staff room and boardroom. The property benefits from gas central heating, double glazing and fitted carpets and also offers period features including high ceilings and cornicing detail on the ground floor. Externally there is a private car park for approximately 6 vehicles. SITUATION The property is located in a highly-prominent corner position at the junction of Bitterne Road East and Commercial Street, in a predominantly residential neighbourhood of Southampton and within fairly close proximity to the Bitterne Village Precinct. Nearby commercial occupiers include Andrew Osborne Kitchens and Premier Teamwear & Workwear. Bitterne Road East (A334) is a principle arterial route leading east out of Southampton towards Junction 7 of the M27 motorway, 1.6 miles away. ACCOMMODATION We have identified an approximate internal area of 2,432 sq. ft. / 226 sq. m. TENURE We are instructed to seek offers of £475,000 for the freehold interest, subject to the existing occupational lease, which represents a low capital value of £195 psf and a gross yield of almost 6.2%, before standard purchaser’s costs. TITLE INFORMATION The freehold title is HP398010. A data room of salient information is available on request to interested parties. EPC RATING Rated C (75) under certificate reference 8831-7557-6983-2721-5830 which is valid until 6th October 2034. RATEABLE VALUE According to the Valuation Office Agency website, the property has a rateable value of £25,250, valid from 1st April 2023. LEGAL COSTS AND VAT Each party is expected to bear their own legal costs in this transaction. The property is not elected for VAT purposes. VIEWINGS No direct approach to the occupier is permitted. All enquiries and appointments to view must be made by contacting the sole agents Trinity Rose Commercial on or by emailing Energy Performance Certificates EPC Rating Graph

Commercial property for sale in Southampton, England

Retail property (high street) for sale

Description

Need Broker Assistance?