90 Above Bar Street Southampton Hampshire SO14 7DT

90 Above Bar Street
Southampton
Hampshire
SO14 7DT

Freehold Retail and Residential Investment

Let on a new 20 year lease to Coffee#1 Limited
Prominent position on Southamptons prime retailing thoroughfare
Located diagonally opposite the Marlands Shopping Centre
Nearby occupiers include Burger King, Lloyds Bank, Boots Opticians and Starbucks
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
51
Auction
13th October 2016
Rent
£42,500 per Annum Exclusive
Status
Sold
Price
£570,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On Behalf of a Major Fund Manager

Important Update Interested?

Expand
Photos
Map

Freehold Retail and Residential Investment

Let on a new 20 year lease to Coffee#1 Limited
Prominent position on Southamptons prime retailing thoroughfare
Located diagonally opposite the Marlands Shopping Centre
Nearby occupiers include Burger King, Lloyds Bank, Boots Opticians and Starbucks
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 51
Auction 13th October 2016
Rent £42,500 per Annum Exclusive
Status Sold
Price £570,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On Behalf of a Major Fund Manager

Property Information

Location

Miles: 19 miles north-west of Portsmouth, 23 miles south of Salisbury
Roads: A33, M3 (Junction 14), M27 (Junctions 3 & 4)
Rail: Southampton Central Station
Air: Southampton International Airport

Situation

The property is situated in a prominent location on the eastern side of Above Bar Street, Southampton’s prime retailing thoroughfare. Marlands Shopping Centre is located diagonally opposite the property and houses retailers including Poundland, Shoe Zone and The Disney Store with West Quay Shopping Centre also a short walk away. Other nearby occupiers include Burger King, Lloyds Bank, Boots Opticians and Starbucks.

Tenure

Freehold.

Location

Miles: 19 miles north-west of Portsmouth, 23 miles south of Salisbury
Roads: A33, M3 (Junction 14), M27 (Junctions 3 & 4)
Rail: Southampton Central Station
Air: Southampton International Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor retail unit with self-contained residential flats on the first and second floors which have been let on a long lease.

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 self-contained residential flats on the first and second floors which have been let on a long lease.

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	160.76 sq m	(1,730 sq ft)	COFFEE#1 LIMITED (1)	20 years from 14/07/2016 (2)	£42,500	14/07/2021 and five yearly (13/07/2036)
First & Second	Residential	Not Measured		-	150 year lease from completion	Peppercorn	(2166)
Total Commercial Area		160.76 sq m	(1,730 sq ft)			£42,500

(1) For the year ending September 2015, Coffee#1 Limited reported a turnover of £17,875,458, pre-tax profits of £1,661,263 and a total net worth of £3,702,535. (Source: Experian Group 12/09/2016) Coffee #1 first opened in 2001 and they now have 50 coffee shops (Source: coffee1.co.uk 19/09/2016).
(2) The lease provides a tenant option to determine on 13/07/2026 and 13/07/2032.