Retail property (high street) for sale

A Grade II listed freehold mid-terrace property, currently tenanted by way of separate licence agreements to Biospheric Beauty & Cosmetology, who occupy the lower ground floor and Sugar Flick who occupy the ground and first floor. We are advised that the cumulative rental income currently being generated is £24,600 per annum, which includes all utility bills incurred by the tenants.

On the lower ground floor is a large reception room with a utility room to the rear and stairs leading to the ground floor. On the ground floor you will find two well-proportioned rooms with kitchen/utility space to the rear, there is an entrance hall providing access to the first floor, here you will find two further rooms and separate male and female WC’s. To the rear of the property are two allocated parking spaces.

TENURE
We are instructed the market the freehold interest, subject to the existing occupational licence agreements, at a guide price of £375,000 which represents a gross yield of 6.56% and a capital value of £267 psf. Alternatively, vacant possession could be sought.

RATEABLE VALUE
According the Valuation Office agency, the below rateable values apply:
Basement - £6,800
Ground Floor - £6,400
First Floor - £3,500

EPC
To be advised.

LEGAL COSTS & VAT
Each party is expected to bear their own legal costs in any transaction. It is to be established if the building is elected for VAT.

VIEWINGS
No approach to the current occupiers is permitted. For any enquiries please contact Trinity Rose Commercial on[use Contact Agent Button] or email Jon Baud [use Contact Agent Button]

Southampton is a thriving commercial port with a population in excess of 250,000 and achieved city status in 1964 due to its contribution to trade and the economy. The city centre offers an extensive range of shopping and leisure facilities ranging from small boutique outlets to major department stores including the landmark West Quay shopping mall. Restaurants, bars and cafes cater for every taste and the Cinema de lux offers the finest film viewing experience. Numerous pleasant parks together with The Common, City golf course and sports centre offer a wide range of leisure opportunities with hundreds of acres of green open space. Premier league football is played at St Marys and the Ageas Bowl is the home of Hampshire cricket hosting domestic and international matches together with live music events. The Guildhall and Mayflower theatres host a wide and eclectic range of plays, opera, ballet and musicals and the public art gallery in the civic centre has a famous and acclaimed collection.