3 Eastgate Street Winchester Hampshire SO23 8EB

3 Eastgate Street
Winchester
Hampshire
SO23 8EB

  • 3 Eastgate Street<br>Winchester<br>Hampshire<br>SO23 8EB

Freehold Retail and Former Residential Property with Immediate Asset Management and Development Potential

  • Large restaurant with a separately accessed single former residential dwelling above (currently used as ancillary/storage)
  • Entirely let by way of Tenancy At Will with opportunity to regularise or re-let (1)
  • Planning permission granted in June 2020 to convert upper parts into 2 large 1 bed flats
  • Immediate Asset Management Opportunities
  • Sought after City Centre location 400 metres from Winchester Cathedral
  • In the same ownership for nearly 25 years
  • Lot
    5
  • Auction
    12/Jul/2022
  • Rent
    £39,600 per Annum Exclusive
    (2)
  • Status
    Available
  • Price*
    £600,000+
  • Sector
    Development
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Pension Trustees
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
12 miles north of Southampton, 17 miles south of Basingstoke
Roads
A31, A34, A303, M3 (Junction 9-11)
Air
Bournemouth Airport, London Heathrow Airport
Situation

The property is situated in a prominent position opposite King Alfred the Great Statue at the junction of Eastgate Street and The Broadway, just 400 metres from Winchester Cathedral. Winchester Bus Station and Winchester High Street are both a short walk away.

Tenure

Freehold.

Location
Miles
12 miles north of Southampton, 17 miles south of Basingstoke
Roads
A31, A34, A303, M3 (Junction 9-11)
Air
Bournemouth Airport, London Heathrow Airport
Situation

The property is situated in a prominent position opposite King Alfred the Great Statue at the junction of Eastgate Street and The Broadway, just 400 metres from Winchester Cathedral. Winchester Bus Station and Winchester High Street are both a short walk away.

Tenure

Freehold.

Description

The property, a Grade II listed building, comprises a large restaurant (circa 55 covers) arranged on the ground floor, together with a small mezzanine and basement.
The first and second floors currently provide former residential accommodation arranged as 5 rooms, a kitchen and 2 bathrooms arranged as a single dwelling and currently used for ancillary/storage by the tenant.
The property benefits from rear access from a narrow street serving the adjacent residential properties as well as separate access from Eastgate Street, leading to the basement & upper floors.

VAT

VAT is applicable to this lot.

Planning

Planning Permission was granted in June 2020 for conversion of the existing single dwelling into 2 separate dwellings (2 x 1 bed flat's). Planning Reference: 20/011157/LIS. Winchester City Council t: 01962 840222 www.winchester.gov.uk/planning

Completion Period

6 week completion

EPC

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

Description

The property, a Grade II listed building, comprises a large restaurant (circa 55 covers) arranged on the ground floor, together with a small mezzanine and basement.
The first and second floors currently provide former residential accommodation arranged as 5 rooms, a kitchen and 2 bathrooms arranged as a single dwelling and currently used for ancillary/storage by the tenant.
The property benefits from rear access from a narrow street serving the adjacent residential properties as well as separate access from Eastgate Street, leading to the basement & upper floors.

VAT

VAT is applicable to this lot.

Planning

Planning Permission was granted in June 2020 for conversion of the existing single dwelling into 2 separate dwellings (2 x 1 bed flat's). Planning Reference: 20/011157/LIS. Winchester City Council t: 01962 840222 www.winchester.gov.uk/planning

Completion Period

6 week completion

EPC

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

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x.
Ground/Mezzanine/Basement
First
Second
Restaurant/Ancillary
Ancillary
Ancillary
158.59
45.24
53.42
(1,707)
(487)
(575)
S.GHAMBOLE (t/a Taste of Gurkhas) Tenancy at Will for a term commencing on 23/06/2021 at £3,300 pcm (1)
£39,600 (2)
Total  
257.25
(2,769)
   
£39,600

(1) The tenant occupies by way of a Tenancy at Will, but has expressed desire to regularise the tenancy with a formal longer term lease at £40,000 per annum. Under the terms of the current Tenancy at Will, either party can serve notice to terminate at any time.
(2) Annual equivalent rent.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    21.06.22
    File Size
    6 MB
    Login to View
  • Brochure
    Updated Date
    22.06.22
    File Size
    5 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

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
Joelson Law 2 Marylebone Road
London
NW1 4DF
Clive Bearman +44 (0)20 7307 2121clive.b@joelsonlaw.com

Useful Links

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

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