15/17 West Street Havant Hampshire PO9 1ER

15/17 West Street
Havant
Hampshire
PO9 1ER

Let to C & J Clark International Limited t/a Clarks on a renewed reversionary lease
Tenant in occupation for approximately 30 years
Prime pedestrianised retail pitch in popular South Coast location
Nearby occupiers include M&Co, McDonalds, New Look and NatWest
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
31
Auction
12th February 2015
Rent
£40,000 per Annum Exclusive
Status
Sold
Price
£550,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
Freehold Retail/Residential Investment

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Let to C & J Clark International Limited t/a Clarks on a renewed reversionary lease
Tenant in occupation for approximately 30 years
Prime pedestrianised retail pitch in popular South Coast location
Nearby occupiers include M&Co, McDonalds, New Look and NatWest
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 31
Auction 12th February 2015
Rent £40,000 per Annum Exclusive
Status Sold
Price £550,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
Freehold Retail/Residential Investment

Property Information

Location

Miles: 7 miles north-east of Portsmouth 11 miles west of Chichester 23 miles south-east of Winchester
Road: A27, A3(M), M27
Rail: Havant Railway Station (direct to London Waterloo and London Victoria)
Air: Southampton International Airport

Situation

The property is situated on the southern side of West Street, the town’s prime pedestrianised retail thoroughfare adjacent to M&Co and near McDonald’s, New Look and NatWest Bank.

Tenure

Freehold.

Location

Miles: 7 miles north-east of Portsmouth 11 miles west of Chichester 23 miles south-east of Winchester
Road: A27, A3(M), M27
Rail: Havant Railway Station (direct to London Waterloo and London Victoria)
Air: Southampton International Airport

Situation

The property is situated on the southern side of West Street, the town’s prime pedestrianised retail thoroughfare adjacent to M&Co and near McDonald’s, New Look and NatWest Bank.

Tenure

Freehold.

Description

The property, a Grade II listed building, comprises retail accommodation on the ground floor with ancillary accommodation on the first and second floors above 17 West Street. In addition there is a self-contained 3 bedroom residential flat on the first and second floors above 15 West Street, accessible from the rear. The property also benefits from a rear yard used for staff parking and delivery access.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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
Ground First Second First/Second	Retail/Ancillary Ancillary Ancillary Residential	148.36 sq m 38.09 sq m 19.6 sq m 3 Bedroom Flat	(1,597 sq ft) (410 sq ft) (211 sq ft)	C & J CLARK INTERNATIONAL LIMITED (1) t/a Clarks	10 years from 01/04/2010 until 31/03/2020 on a full repairing and insuring lease (2)	£40,000	01/04/2015
Total Commercial Floor Area		206.05 sq m	(2,218 sq ft)			£40,000

(1)For the year ending 31/01/2014, C&J Clark Limited reported a turnover of £1,541,000,000, pre-tax profits of £119,800,000 and a total net worth of £504,600,000. (Source: www.riskdisk.com 19/12/2014)
(2)This is a reversionary lease and extends the term of the previous lease which was for a term of 25 years from 18th April 1985.