127 High Street Gosport Hampshire PO12 1DU

127 High Street
Gosport
Hampshire
PO12 1DU

Freehold Retail Investment

Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
Prominent pedstrianised town centre location
VAT-free Investment
Adjacent to Santander and opposite HSBC and Lloyds Bank
M&Co in occupation since 1982

Lot
22
Auction
11th July 2018
Rent
£33,000 per Annum Exclusive
Status
Sold
Price
£372,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of M&Co.

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Freehold Retail Investment

Let to Mackays Stores Limited (t/a M&Co) on a new 10 year lease (1)
Prominent pedstrianised town centre location
VAT-free Investment
Adjacent to Santander and opposite HSBC and Lloyds Bank
M&Co in occupation since 1982

Lot 22
Auction 11th July 2018
Rent £33,000 per Annum Exclusive
Status Sold
Price £372,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of M&Co.

Property Information

Location

Miles: 3 miles west of Portsmouth; 15 miles south of Southampton; 82 miles south of London
Roads: A3(M), M27, A32
Rail: Portsmouth Harbour Railway Station
Air: Southampton Airport

Situation

Gosport is located on the Hampshire south coast, 3 miles west of Portsmouth and 15 miles south of Southampton. The Gosport ferry provides quick access to the Portsmouth Harbour Railway Station (regular services to London Waterloo). The property is located in Gosport town centre on the pedestrianised High Street, close to its junction with South Cross Street. There are a number of public car parks close by. Occupiers nearby include Santander (adjacent), HSBC, Lloyds (opposite), Costa, Ladbrokes, Holland & Barrett and Specsavers.

Tenure

Freehold.

Location

Miles: 3 miles west of Portsmouth; 15 miles south of Southampton; 82 miles south of London
Roads: A3(M), M27, A32
Rail: Portsmouth Harbour Railway Station
Air: Southampton Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor shop together with rear storage. The rear first floor comprises staff and storage accommodation. The first floor front is void and is not currently used. The property benefits from a rear yard accessed via South Cross Street.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

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

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

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 rear First front	Retail & Ancillary Ancillary Void	462 sq m 31 sq m	(4,973 sq ft) (333 sq ft)	MACKAYS STORES LIMITED t/a M&Co (2)	10 years from completion on a full repairing and insuring lease subject to a schedule of condition (1)	£33,000	2023
Total		493 sq m	(5,306 sq ft)			£33,000

(1) Tenant’s option to determine in the fifth year.
(2) For the year ended 24th February 2017, Mackays Stores Limited reported a turnover of £165,611,000, pre-tax profits of £1,100,000 and a total net worth of £36,441,000 (Source: Experian Group 12/06/2018). Mackays Stores Limited is one of the largest privately owned fashion retailers in the UK. Since inception in the 1960s, M&Co now trades from over 300 stores nationwide with a further 22 stores overseas.