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Primmer Olds B·A·S 61 Cromwell Road, Southampton, Hampshire SO15 2JE
Enquiries: Call us on 023 8022 2292
Call us on 023 8022 2292 | www.primmeroldsbas.co.uk
KEY FEATURES
Retail Investment
403 ROMSEY ROAD, SOUTHAMPTON, SO16 9GJ
FOR SALE
• Busy road position
• Two commercial tenants
• Long term Asset Management Potential
• Attractive Net Yield
• Price guide £350,000
• No VAT
VIEWING & FURTHER INFORMATION: CALL 023 8022 2292
Property Misdescriptions Act 1991 – Services & Planning. We have not tested any of the service installations including heating and lighting. Prospective purchasers or tenants should satisfy themselves independently that appropriate connections exist and as to the state and condition of such items. Any plans included in these particulars are provided only to indicate the general location of the property. Prospective purchases or tenants should verify any stated planning use in these particulars with Local Planning Authority and should satisfy themselves that their proposed use is compatible with planning requirements. Misrepresentation Act 1967 – Whilst all the information in these particulars is believed to be correct neither the agents nor their clients guarantee its accuracy nor is it intended to form part of any contract. All areas quoted are approximate. No representative of Primmer Olds B.A.S has any authority to make or give any representation or warranty whatsoever in relation to this property. Finance Act 1989 – Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (V.A.T.). Any intending purchasers or lessees must satisfy themselves independently as to the incidence of V.A.T. in respect of any transaction.
LOCATION & DESCRIPTION
The property is situated in Southampton a major commercial centre
located on the South Coast in the county of Hampshire.
Situated in a prominent position close to the junction of Rownhams Road
and Romsey Road (A3057) and close to Southampton General Hospital to
the West of the city centre.
Centre terrace two storey building with ground floor retail, including rear
first floor ancillary, as well as self contained first floor salon. Rear yard and
parking on forecourt.
ACCOMMODATION
Floor Areas Sq M Sq Ft
Retail - Ground & Part First Floor 202.17 2176
Salon - First Floor 61.57 663
Areas taken from VOA
TENURE Freehold
TENANCIES
Retail let by way of a lease dated 21st June 2003 for term of 20 years
from 23rd June 2023. Subject to review 23rd June 2018 on open market
upward only basis. Effectively Full Repairing and Insuring Limited by
schedule of condition. Tenant Mr & Mrs Jagpal
Current rent £21,624 per annum exclusive.
Salon let by way of lease dated 26th September 2017 for a term of 6 years
from 1st October 2017 at a rent of £6,330 per annum. Lease subject to
breaks in 2020 and 2023 subject to six months notice.
(Total Gross Rents £27,954 per annum)
RATES
Shop Rateable Value £16,000
Salon Rateable Value £5,600
EPC
403 (Shop) C67
403A (Salon) E120
ROMSEY ROAD, SOUTHAMPTON
Duane [email protected]
VAT
We are advised VAT is not payable on rents or purchase.
PROPOSAL
Offers are invited in the region of £350,000 subject to contract for
the freehold interest subject to the subsisting tenancies reflecting
an initial yield of 7.72% after allowance of buyers costs at 3.5%
ANTI MONEY LAUNDERING REGULATION
Please note all prospective buyers will need to be verified for ‘AML’
purposes prior to issuing memorandum of agreed terms for a sale.
Hannah BennettAgency [email protected]
