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36 High Street, Petersfield, GU31 4JARetail / Office Investment Opportunity
Investment, Retail, Office
FOR SALE
Summary
Tenure For Sale
Available Size 4,690 sq ft / 435.72 sq m
Price £400,000 subject to the 2 existing occupational leases
Business Rates N/A
EPC Rating Upon Enquiry
Key Points
Total Rent roll £27,500 per
annum
•
Pending Rent Reviews on
both Tenancies
•
Very Prominent Building•Longer Term Redevelopment
Opportunity.
•
hi-m.co.ukPORTSMOUTH 023 9237 7800
SOUTHAMPTON 023 8011 9977
Viewing & Further Information
Stuart Mitchell
023 9237 7800
More properties like this at www.hi-m.co.uk
For the Lessors or Vendors of this instruction, whose Agents they are, give notice that; These particulars are set out as general guidance only to intending Purchasers or Lessees, and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Lessees, Purchasers or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Holloway Iliffe & Mitchell has any authority to make any representation or warranty whatsoever in relation to this property. Unless stated, all prices and rents are quoted exclusive of VAT Generated on 10/12/2021
GU31 4JA
Description
The building is set over three floors, providing a ground floor self contained retail unit
fronting Dragon Street, the remainder of the building having side access off Heath
Road and offering ground floor reception, office, store on the ground floor, with stairs
leading to the first floor which provides a reception seating area, a dance hall and
further storage, with stairs leading to the second floor which provides 3 offices and a
w.c.
With access via the ground floor reception stairs lead down to a large basement.
Location
The property is situated fronting Dragon Street, with a visual position located at the
end of the High Street. The town centre is in walking distance from the property as is
Petersfield Town Hall, Town Hall Car Park.
The property is situated on its own plot either side of Heath Road. Petersfield Railway
Station and the intersection with the A3 are both within a 3 minute drive.
Accommodation
The accommodation comprises of the following
Name Sq ft Sq m
Ground - Shop Unit 550 51.10
Ground - Rear Office & Stores 3,380 314.01
Basement 760 70.61
Total 4,690 435.72
Terms
The ground floor shop is let on a term for 10 years from 17th July 2017, trading as a
Turkish Barber. The lease is subject to a passing rent of £12,500 subject to a review
on 17th July 2020 and 17th July 2025. The lease is drawn on effective full repairing
insuring basis subject to a schedule of condition.
Rear offices and stores, this is let on the basis of a 10 year lease from 1st January 2016
at a passing rent of £15,000 per annum to Petersfield Youth Theatre. The lease allows
for a rent review on 1st January 2021. The lease is drawn on effective internal
repairing and insuring covenants, subject to a capped service charge for maintenance
of the external elements of the building.
Current passing rent £27,500 per annum
Available on the remainder of a 1000 year lease from 25th March 1808 at a ground
rent of a shilling per annum.
Price £400,000.
Other Matters
Each party to be responsible for their own costs incurred in the transaction.
36 High Street, Petersfield, GU31 4JA
Agency | Property Management | Valuation | Lease Advisory
