54a and 54b High Street Lymington Hampshire SO41 9AJ

54a and 54b High Street
Lymington
Hampshire
SO41 9AJ

  • 54a and 54b High Street<br>Lymington<br>Hampshire<br>SO41 9AJ

Freehold Retail and Residential Ground Rent Investment

  • Two Retail Units and 4 Flats
  • Let to The Oakhaven Trust Until 2031 and Coral Estates Limited
  • Affluent and Historic Market Town and a Popular Yachting Port
  • Close to the New Forest National Park
  • VAT Free Investment
  • Neighbouring Occupiers Include M&S, Prezzo, Nationwide, Oxfam, Mountain Warehouse
  • Lot
    23
  • Auction
    12/Jul/2022
  • Rent
    £81,050 per Annum Exclusive
  • Status
    Available
  • Price*
    £975,000 - £1,000,000
  • Sector
    High Street Retail/Residential
  • Auction Venue
    Live Streamed Auction
  • On Behalf of a Major Fund
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
20 miles west of Portsmouth, 13 miles east of Bournemouth
Roads
A337, M27 (J1)
Rail
Lymington Town Train Station, Lymington Pier Train Station
Air
Portsmouth Airport
Situation

Lymington is an affluent and historic market town and popular yachting port on the southern edge of The New Forest National Park. Lymington benefits from strong levels of tourism. The property is situated on the south side of High Street, the main commercial street in the centre of Lymington. Neighbouring occupiers include M&S, Prezzo, Nationwide, Oxfam, Mountain Warehouse and many further national and local retailers and restaurants.

Tenure

Freehold.

Location
Miles
20 miles west of Portsmouth, 13 miles east of Bournemouth
Roads
A337, M27 (J1)
Rail
Lymington Town Train Station, Lymington Pier Train Station
Air
Portsmouth Airport
Situation

Lymington is an affluent and historic market town and popular yachting port on the southern edge of The New Forest National Park. Lymington benefits from strong levels of tourism. The property is situated on the south side of High Street, the main commercial street in the centre of Lymington. Neighbouring occupiers include M&S, Prezzo, Nationwide, Oxfam, Mountain Warehouse and many further national and local retailers and restaurants.

Tenure

Freehold.

Description

The property, a substantial detached mixed use building comprises two ground floor retail units and four flats on the first and second floors. The property benefits from car parking at the rear and an approximate site area of 0.175 Acres.

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, a substantial detached mixed use building comprises two ground floor retail units and four flats on the first and second floors. The property benefits from car parking at the rear and an approximate site area of 0.175 Acres.

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

Unit Floor Use Floor Areas
Approx sq m
Floor Areas
Approx sq ft
Tenant Term Rent p.a.x. Review/(Reversion)
54a Ground Retail
107.30
(1,155)
THE OAKHAVEN TRUST
(1)
10 years from 27/05/2021
£37,750
27/05/2026
(26/052031)
54b Ground Retail
123.84
(1,333)
CORAL ESTATES LTD
(2)
10 years from 11/04/2016
£43,200
(10/04/2026)
Flat 1 First Residential
46.73
(503)
INDIVIDUAL A term of years expiring
24/12/2174
Nil
(24/12/2174)
Flat 2 First Residential
47.47
(511)
INDIVIDUAL A term of years expiring
24/12/2084
£100 (3)
(24/12/2084)
Flat 3 Second Residential
46.82
(504)
INDIVIDUAL A term of years expiring
25/12/2174
Nil
(25/12/2174)
Flat 4 Second Residential
47.56
(512)
INDIVIDUAL A term of years expiring
24/12/2174
Nil
(24/12/2174)
Total Approximate
Floor Area
   
419.72
(4,518)
(4)
   
£81,050
 

(1) The Oakhaven Trust was incorporated in 1992 and is a registered charity (900215). They operate from 8 locations across the south east (www.oakhavenhospice.co.uk).
(2) For the year ending 31/12/2020 Coral Estates Limited (CRN 00726729) reported Pre-Tax profit of negative £146,000 and Net Worth of £39,483,000. (NorthRow 31/05/2022)
(3) The lease provides for a fixed ground rent increase to £150 per annum exclusive on 25/12/2051.
(4) The floor areas stated above are Net Internal Areas and are detailed further in the Legal Pack.

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
    24.06.22
    File Size
    101 MB
    Login to View
  • Brochure
    Updated Date
    22.06.22
    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

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
The Wilkes Partnership 41 Church St
Birmingham
West Midlands
B3 2RT
Bryan Poultney 0121 710 5832bpoultney@wilkes.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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