104A - 106A East Street Southampton Hampshire SO14 3HH

  • 104A - 106A East Street<br>Southampton<br>Hampshire<br>SO14 3HH

104A - 106A East Street
Southampton
Hampshire
SO14 3HH

Freehold City Centre Retail and Residential Investment

  • Parade of four retail units with self-contained residential flats let on AST’s
  • Affluent South East city centre location
  • All retail tenants are occupying under renewed leases
  • East Street to undergo a significant redevelopment to include a new Morrisons Supermarket
  • Nearby occupiers include Debenhams, Holland and Barrett, Greggs, Subway, NatWest, Ladbrokes and Lidl
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    25
  • Auction
    21st May 2015
  • Rent
    £92,367 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold City Centre Retail and Residential Investment

  • Parade of four retail units with self-contained residential flats let on AST’s
  • Affluent South East city centre location
  • All retail tenants are occupying under renewed leases
  • East Street to undergo a significant redevelopment to include a new Morrisons Supermarket
  • Nearby occupiers include Debenhams, Holland and Barrett, Greggs, Subway, NatWest, Ladbrokes and Lidl
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 25
  • Auction 21st May 2015
  • Rent £92,367 per Annum Exclusive
  • Status Sold Prior
  • Price  
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
75 miles south-west of London
20 miles north-west of Portsmouth
12 miles south-west of Winchester
Roads
M3, M27, A34, A36, A27
Rail
Southampton Central Railway Station
Air
Southampton International Airport
Situation

The property is situated on the southern side of East Street close to High Street in the City Centre. East Street is an established retail pitch which links West Quay and High Street to the west with Debenhams to the east. The East Street Shopping Centre is to be demolished and replaced
with a new Morrisons Supermarket while East Street will be restored to an open pedestrian link between St Mary’s and the City Centre. For further information, please see http://www.eaststreet.info/index.html

Tenure

Freehold.

Location
Miles
75 miles south-west of London
20 miles north-west of Portsmouth
12 miles south-west of Winchester
Roads
M3, M27, A34, A36, A27
Rail
Southampton Central Railway Station
Air
Southampton International Airport
Situation

The property is situated on the southern side of East Street close to High Street in the City Centre. East Street is an established retail pitch which links West Quay and High Street to the west with Debenhams to the east. The East Street Shopping Centre is to be demolished and replaced
with a new Morrisons Supermarket while East Street will be restored to an open pedestrian link between St Mary’s and the City Centre. For further information, please see http://www.eaststreet.info/index.html

Tenure

Freehold.

Description

The property comprises a parade of four retail units with four self contained residential flats above accessed from the rear of the property. The property benefits from 10 car parking spaces to the rear.

Six Week Completion

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 applicable to this lot.

EPC

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

Description

The property comprises a parade of four retail units with four self contained residential flats above accessed from the rear of the property. The property benefits from 10 car parking spaces to the rear.

Six Week Completion

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 applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x. Review/(Reversion)
104A Ground
Basement
1 Car Parking Space		 Retail/Ancillary
Storage
57.60 sq m
63.17 sq m
(620 sq ft)
(680 sq ft)
 THE GLASS LADY LIMITED 9 years and 23 days from 11/10/2011 (1) £22,737.50 25/03/2016
(02/11/2020)
105 Ground
Basement
1 Car Parking Space		 Retail/Ancillary
Storage
30.94 sq m
32.70 sq m
(333 sq ft)
(352 sq ft)
 MR CANH LE (t/a Angel Nails) 8 years from 08/09/2012 (2) £15,330 08/09/2015
(07/09/2020)
106 Ground
Basement
1 Car Parking Space		 Retail/Ancillary
Storage
30.00 sq m
32.70 sq m
(382 sq ft)
(352 sq ft)
 VACANT (3)      
106A Ground
First
2 Car Parking Spaces		 Retail
Office
52.95 sq m
51.10 sq m
(570 sq ft)
(550 sq ft)
 ANGLIAN WINDOWS LIMITED (4) 5 years from 29/09/2012 (5) £24,000 (6) (28/09/2017)
  First – Flat 1
1 Car Parking Space		 Residential
2 Bedroom Flat
 INDIVIDUAL Under offer to commence on 19/05/2015 for 12 months £6,780 (7)  
  First – Flat 2
1 Car Parking Space		 Residential
2 Bedroom Flat
 INDIVIDUAL Let on an AST from 24/04/2014 £8,220 (7) (23/10/2015)
  First – Flat 3
1 Car Parking Space		 Residential
2 Bedroom Flat
 INDIVIDUAL Let on an AST from 15/02/2009 £6,300 (7) Holding Over
  First – Flat 4
1 Car Parking Space		 Residential
2 Bedroom Flat
 INDIVIDUAL Let on an AST from 07/04/2015 £9,000 (7) (07/02/2016)
Totals    
351.16 sq m
(3,839 sq ft)
     £92,367.50 p.a.x.  

(1) The business has been in occupation since 2003.
(2) The business has been in occupation since 2006.
(3) The property is currently being marketed by Myddleton & Major quoting a rent of £15,750 p.a.
(4) For the year ending 29/03/2014, Anglian Windows Limited reported a turnover of £229,154,000, pre-tax profits of £10,739,000 and a total net worth of £65,477,000. (Source: www.riskdisk.com 31/03/2015)
(5) The business has been in occupation since 2005.
(6) The tenant has not exercised the option to break on 29th September 2015 and will therefore benefit from a rent free period from 29th September 2015 to 28th December 2015. The seller has agreed to adjust the completion monies to cover the loss of rent during this period.
(7) The rent for the residential flats has been annualised.

Contacts

Seller's Solicitors
Cripps LLP Wallside House, 12 Mount Ephraim Road
Tunbridge Wells
Kent
TN1 1EG
Garry Brett 07887 713 517cpc@kingswater.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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