55/59 High Street
Gosport
Hampshire
PO12 1DR

Freehold Retail Parade Investment

  • Three ground floor shops let to Card Factory, VPZ and tenant to be trading as Koi Hut
  • New 15 year lease on letting to Koi Hut (subject to options)
  • Prominent Retail Parade on High Street Location
  • Nearby occupiers include Poundland, Superdrug, The Works, New Look and Vodafone
  • Lot
    30
  • Auction
    04/Nov/2021
  • Rent
    £46,250 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 55/59 High Street, Gosport, Hampshire, PO12 1DR
  • Expand
  • Photos
  • Map

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

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

The Gosport ferry provides quick access to Portsmouth Harbour Railway Station (regular services to London Waterloo) as well as Gun Wharf Quays Shopping Centre and Historic Naval Shipyards. The property is located in Gosport Town Centre on the pedestrianised High Street (which holds an active street market). There are a number of public car parks close by. Nearby occupiers include Poundland, Superdrug, The Works, New Look and Vodafone.

Tenure

Freehold.

Description

The property comprises three ground floor retail units with the first and second floors sold off on a 999 year lease.
The footpath adjacent 55 High Street, is not included in the sale.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Various. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

AddressFloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
55 High
Street
GroundRetail/Ancillary
175.95 sq m
(1,894 sq ft)
SPORTSWIFT
LIMITED t/a Card
Factory (1)
5 years from
29/09/2019
£18,750-
57 High
Street
GroundRetail
141.77 sq m
(1,526 sq ft)
M. E. EAMES to
t/a Koi Hut
15 years from
14/09/2021 (2)
£12,50014/09/2026
and five yearly
thereafter
59 High
Street
GroundRetail
106.55 sq m
(1,147 sq ft)
CCHG LIMITED
t/a VPZ (3)
10 years from
21/02/2020 (4)
£15,00020/02/2025
55-59
High
Street
First &
Second
Residential
-
(-)
BLUEBIRD
COURT LIMITED
999 years from
10/06/2019 until
09/06/3018
Peppercorn-
Total
424.27 sq m
(4,567 sq ft)  £46,250 

(1) For the year ending 31/01/2020, Sportswift Limited reported a turnover of £433,400,000, pre-tax profits of £67,672,000 and total shareholders equity of £53,736,000 (Source: NorthRow 28/09/2021).
(2) The lease provides for a tenant option to determine in September 2026 and 2031. Under the terms of the lease, the tenant benefits from six months rent free. The Vendor has agreed to top up the completion monies so that the property produces £12,500 pa from completion of the sale until the end of the concessionary period. See legal pack for full details. A rent deposit equivalent to 4 months rent is held by the Vendor.
(3) For the year ending 31/12/2020, CCHG Limited reported a turnover of £25,911,415, pre-tax profits of £19,337 and total shareholders equity of £13,990,191 (Source: NorthRow 28/09/2021).
(4) The lease provides for a tenant option to determine in 2023 and 2025.

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.

Property Documents

  • Site Plan
    Updated Date
    15.10.21
    File Size
    852 KB
    View PDF
  • Catalogue Page
    Updated Date
    15.10.21
    File Size
    560 KB
    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

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Associate Auctioneers
Trinity Rose Trinity House, 123 Winchester Road
Chandlers Ford
SO53 2DR
Jeremy Braybrook 07500 872832j.braybrooke@trinity-rose.co.uk
Seller's Solicitors
Debenhams Ottaway LLP 48 Watling St
Radlett
WD7 7NN
Kat McDonagh 01293 289916KHM@debenhamsottaway.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now