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Just added
£225,000
(£98.00/sq. ft)
Retail premises for sale
51/51A West Street, Fareham, Hampshire PO162,296 sq. ft
Local area information
Property location
Nearby amenities
- Harrison Primary School 0.3 miles
- Redlands Primary School 0.6 miles
- Fareham 0.7 miles
- Portchester 2.3 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Two storey commercial unit available
- Prominent pedestrianised location
- Net Internal Area - 2,296 sq.ft (213 sq.m)
- Nearby occupiers include, McDonald's, Cex, Nationwide and local businesses
- Guide price £225,000
- Rental income £18,000 per annum
Description
Fareham is situated midway between Southampton and Portsmouth on the M27. West street is the main retail patch in the town of Fareham, with a variety of independent shops, cafes and restaurants. The property is located on a busy road with heavy foot traffic, and good public transport links.
The property comprises of an open plan ground floor sales area with stairs to the rear that lead to first floor office area. The retail shop also benefits from ample storage, Kitchenette and W/C facillities.
Accommodation
Ground Floor - 1,169 sq.ft (108.61 sq.m)
First Floor - 1,127 sq.ft (104.65 sq.m)
Total Net Internal Area 2,296 sq.ft (213 sq.m)
Terms
Offers considered in the region of £225,000 subject to contract for the freehold interest subject to and with the benefit of the subsisting tenancy as outlined above.
Lease Terms
The property is let by way of a lease dated 25th December 2021 for a term of 5 years at a passing rent of £18,000 per annum, expiring 24th December 2026.
The tenant is 'British Heart Foundation'.
The lease is drawn on full repairing & insuring terms.
A purchase based on the current guide price, would equate to a net initial yield of 7.8%.
Planning
Under the new planning regulations, we believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, café, health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.
EPC Text
Asset Rating - D (90)
Rating
Rateable Value £13,000
Source The 2024/2025 small business multiplier is 0.499 (49.9p payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. *If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.
Fareham is situated midway between Southampton and Portsmouth on the M27. West street is the main retail patch in the town of Fareham, with a variety of independent shops, cafes and restaurants. The property is located on a busy road with heavy foot traffic, and good public transport links.
The property comprises of an open plan ground floor sales area with stairs to the rear that lead to first floor office area. The retail shop also benefits from ample storage, Kitchenette and W/C facillities.
Accommodation
Ground Floor - 1,169 sq.ft (108.61 sq.m)
First Floor - 1,127 sq.ft (104.65 sq.m)
Total Net Internal Area 2,296 sq.ft (213 sq.m)
Terms
Offers considered in the region of £225,000 subject to contract for the freehold interest subject to and with the benefit of the subsisting tenancy as outlined above.
Lease Terms
The property is let by way of a lease dated 25th December 2021 for a term of 5 years at a passing rent of £18,000 per annum, expiring 24th December 2026.
The tenant is 'British Heart Foundation'.
The lease is drawn on full repairing & insuring terms.
A purchase based on the current guide price, would equate to a net initial yield of 7.8%.
Planning
Under the new planning regulations, we believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, café, health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.
EPC Text
Asset Rating - D (90)
Rating
Rateable Value £13,000
Source The 2024/2025 small business multiplier is 0.499 (49.9p payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. *If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.
More information
Listed by
Primmer Olds BAS
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