Nearby occupiers include Greggs, McDonald’s, Argos, Nationwide and Robert Dyas
Six Week Completion
Lot 33
Auction 23rd May 2013
Rent £80,000 per Annum Exclusive
Status Sold
Price £890,000
Sector High Street Retail
Auction Venue The Dorchester Hotel Park Lane Entrance Mayfair London W1K 1QA
On behalf of Trustees
Property Information
Location
Miles
8 miles north-west of Portsmouth
13 miles east of Southampton
Roads
A27, A32, M27 (Junction 11)
Rail
Fareham Rail
Air
Southampton Airport, Bournemouth International Airport
Situation
The property is situated in a prominent location on the northern side of West Street, the town’s prime pedestrianised retailing thoroughfare. Fareham Shopping Centre is located immediately to the north-east housing retailers such as Marks & Spencer, Next, Boots, Costa Coffee, Burger King and Debenhams. Other nearby occupiers include Greggs, McDonald’s, Argos, Nationwide and Robert Dyas.
Tenure
Freehold.
Location
Miles
8 miles north-west of Portsmouth
13 miles east of Southampton
Roads
A27, A32, M27 (Junction 11)
Rail
Fareham Rail
Air
Southampton Airport, Bournemouth International Airport
Situation
The property is situated in a prominent location on the northern side of West Street, the town’s prime pedestrianised retailing thoroughfare. Fareham Shopping Centre is located immediately to the north-east housing retailers such as Marks & Spencer, Next, Boots, Costa Coffee, Burger King and Debenhams. Other nearby occupiers include Greggs, McDonald’s, Argos, Nationwide and Robert Dyas.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with first floor retail and ancillary accommodation.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with first floor retail and ancillary accommodation.
VAT
VAT is applicable to this lot.
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
Retail Retail/Ancillary
492.01 sq m 436.92 sq m
(5,296 sq ft) (4,703 sq ft)
WH SMITH PLC (1)
15 years from 10/11/2004 until 09/11/2019 on a full repairing and insuring lease (2)
£80,000
10/11/2014
Totals
928.93 sq m
(9,999 sq ft)
£80,000
(1) For the year ending 31st August 2012, WH Smith plc reported a turnover of £1,243,000,000, pre-tax profits of £102,000,000 and a total net worth of £95,000,000. (Source: www.riskdisk.com 23/04/2013) (2) The tenant’s repairing obligations in relation to the lift and air conditioning are disregarded. Please see the lease for further details.
