52 Market Street Eastleigh Hampshire SO50 5RB

52 Market Street
Eastleigh
Hampshire
SO50 5RB

Freehold Retail and Residential Investment

  • Shop let to Sailors’ Society on new 10 year lease (subject to option)
  • Located on Eastleigh’s Busy Market Street
  • Residential Flat above on AST
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    40
  • Auction
    8th December 2016
  • Rent
    £33,500 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
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* More information on the term "guide" can be found here

Freehold Retail and Residential Investment

  • Shop let to Sailors’ Society on new 10 year lease (subject to option)
  • Located on Eastleigh’s Busy Market Street
  • Residential Flat above on AST
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 40
  • Auction 8th December 2016
  • Rent
  • Status Sold Post
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
6 miles north of Southampton, 21 miles north-west of Portsmouth, 73 miles south-west of Central London
Roads
M3, M27
Rail
Eastleigh Railway Station
Air
Southampton Airport
Situation

The property is situated in Eastleigh town centre on the eastern side of Market Street which runs parallel to High Street. Swan Shopping Centre is a short walk to the south and houses 40 retailers including Boots, New Look, TK Maxx and Next. Other nearby occupiers include Burton Menswear, Carphone Warehouse, Superdrug, Santander and Costa Coffee.

Tenure

Freehold.

Location
Miles
6 miles north of Southampton, 21 miles north-west of Portsmouth, 73 miles south-west of Central London
Roads
M3, M27
Rail
Eastleigh Railway Station
Air
Southampton Airport
Situation

The property is situated in Eastleigh town centre on the eastern side of Market Street which runs parallel to High Street. Swan Shopping Centre is a short walk to the south and houses 40 retailers including Boots, New Look, TK Maxx and Next. Other nearby occupiers include Burton Menswear, Carphone Warehouse, Superdrug, Santander and Costa Coffee.

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with a 1 bedroom residential flat on the upper floors, accessed from Mitchell Road.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor retail unit with a 1 bedroom residential flat on the upper floors, accessed from Mitchell Road.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
Ground Retail
99.03 sq m
(1,066 sq ft)
SAILORS'
SOCIETY (1)
10 years from November
2016 (2 )
£26,000 (3)
November 2021
(November 2026)
First Residential
1 Bedroom Flat
INDIVIDUAL 1 year from 31/08/2016
£7,500
30/08/2017
Total Approximate
Commercial Floor Area
99.03 sq m
(1,066 sq ft)
   
£33,500

(1) Founded almost 200 years ago in 1818, Sailors’ Society is a Christian charity supporting and caring for seafarers. (Source: www.sailorssociety.org 08/11/2016)
(2) The lease is due to complete imminently. The lease provides a tenant’s option to determine on the fifth anniversary of the term.
(3) For the purpose of clarification, the tenant will benefit from an initial 3 month rent free period followed by a 50% concessionary rent for 4 months. The rent will then increase to £24,000 per annum for the remainder of the first year, increasing to £25,000 per annum in Year 2 and £26,000 per annum in Year 3. The Seller has agreed to adjust the completion monies so that the unit effectively produces £26,000 per annum from completion of the sale.

Property Documents

  • Site Plan
    Updated Date
    16.11.16
    File Size
    304 KB
    View PDF
  • Catalogue Page
    Updated Date
    16.11.16
    File Size
    532 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Eversheds LLP 1 Callaghan Square
Cardiff
CF10 5BT
Amy Jones 0845 497 9797amyjones@eversheds.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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