377-379 Bitterne Road
Bitterne Village
Southampton
Hampshire
SO18 5RR

Freehold Retail/Office Investment

Entirely Let to Countrywide Estate Agents t/a Morris Dibben until December 2026
Includes Well positioned Retail unit and self contained offices
Residential Conversion Potential of the Offices (subject to consents)
2021 Tenant Break option NOT Exercised.(3)
Neighbouring occupiers include Connells Estate Agent, Fox and Sons Estate Agent, Leaders Estate Agent, Halifax, Nationwide Building Society and Sainsburys

Lot
27
Auction
04/Nov/2021
Rent
£31,000 per Annum Exclusive
Status
Sold Post
Price*
Sector
High Street Retail
Auction Venue
Live Streamed Auction

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Photos
Map

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

Property Information

Location

Miles: 2 miles east of Southampton City Centre; 10 miles south of Winchester
Roads: A3024, A3025, M27
Rail: Bitterne Train Station
Air: Southampton Airport

Situation

The property is located on the north side of the pedestrianised Bitterne Road in the heart of Bitterne Village which sits 2 miles east of Southampton City Centre. Neighbouring occupiers included Connells Estate Agent, Fox and Sons Estate Agent, Leaders Estate Agent, Halifax, Nationwide Building Society and Sainsbury's.

Tenure

Freehold.

Description

The property comprises ground floor retail accommodation and self contained office accommodation on the first floor. The self contained offices may be suitable for residential conversion, subject to consents.

VAT

VAT is not applicable to this lot.

Completion Period

Six week completion

EPC

Band D. See legal pack

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground First	Retail Self-Contained Office	85.86 sq m 74.30 sq m	(924 sq ft) (799 sq ft)	Countrywide Estate Agents t/a Morris Dibben (1) (2)	10 years from 25th December 2016 on a full repairing and insuring lease.(3)	£31,000	24/12/2021 (24/12/2026)
Total		160.16 sq m	(1,723 sq ft)			£31,000

(1) For the year ending 31/12/2019 Countrywide Estate Agents (CRN 00789476) reported a turnover of £325,167,000, pre tax profits of £340,000 and a net worth of negative £137,820,000 (Source NorthRow 16/08/2021) Countrywide Estate Agents operate under a number of different trading names including Bairstow Eves, Dixons, Hamptons and operates over 600 offices nationwide. (www.countrywide.co.uk)
(2) The self contained offices have been sub let to Breckenridge & Viana Limited (CRN 01683392) at a current reserved of £6,250 per annum exclusive.
(3) The lease provides for a tenant option to determine the lease on 24th December 2021 on serving 6 month written notice. The Seller has received no notice from the tenant and therefore the tenant has not exercised their option to determine the lease.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.