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
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of M&Co.
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

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
  • 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

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.

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

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.

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.

Property Documents

  • Catalogue Page
    Updated Date
    18.11.19
    File Size
    692 KB
    View PDF
  • Site Plan
    Updated Date
    18.11.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Associate Auctioneers
Fawcett Mead 37/38 Margaret Street
London
W1G 0JF
Joe Baio 020 7182 7480 07807 182 7489joe@fawcettmead.co.uk
Seller's Solicitors
Keystone Law 48 Chancery Lane
London
WC2A 1JF
Stephen Kingsley 0203 319 3700stephen.kingsley@keystonelaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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