61 Old Milton Road New Milton Hampshire BH25 6DN

61 Old Milton Road
New Milton
Hampshire
BH25 6DN

Virtual Freehold Retail Investment

Let to One Stop Convenience Stores Limited (t/a Tesco Express) until 2022
Affluent town immediately south of the New Forest National Park
Prominent corner position close to town centre and residential area
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
55
Auction
10th December 2015
Rent
£42,500 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Virtual Freehold Retail Investment

Let to One Stop Convenience Stores Limited (t/a Tesco Express) until 2022
Affluent town immediately south of the New Forest National Park
Prominent corner position close to town centre and residential area
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 55
Auction 10th December 2015
Rent £42,500 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 19 miles south-west of Southampton, 11 miles east of Bournemouth, 28 miles south of Salisbury
Roads: A337, A35, A338
Rail: New Milton Railway Station
Air: Southampton Airport

Situation

New Milton is an affluent town immediately south of the edge of the New Forest National Park. The property is situated in a prominent corner location on the eastern side of Old Milton Road, at its junction with Crossmead Avenue in a predominantly residential area. The property benefits from a public car park to the rear of the property and on-street parking at the front.

Tenure

Virtual Freehold. Held for a term of 999 years from January 2016.

Location

Miles: 19 miles south-west of Southampton, 11 miles east of Bournemouth, 28 miles south of Salisbury
Roads: A337, A35, A338
Rail: New Milton Railway Station
Air: Southampton Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from January 2016.

Description

The property comprises ground floor retail accommodation forming
part of a larger building.

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 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/ (Reversion)
Ground	Retail	318.30 sq m	(3,426 sq ft)	ONE STOP CONVENIENCE STORES LIMITED (t/a Tesco Express) (1)	20 years from 24/06/2002 on a full repairing and insuring lease	£42,500	24/06/2017 (23/06/2022)
Totals		318.30 sq m	(3,426 sq ft)			£42,500

(1) For the year ending 22nd February 2014, One Stop Convenience Stores Limited reported a total net worth of £49,906,000. (Source: www.riskdisk.com 04/11/2015). One Stop Convenience Stores Limited is a subsidiary of Tesco plc, one of the world’s largest retailers with over 500,000 employees worldwide and over 3,500 UK stores (www.tescoplc.com).