167-169 West Street, Fareham Investment - AcquirePremises
FOR SALE
HOLLOWAY ILIFFE & MITCHELL
CENTRALLY LOCATED RETAIL INVESTMENT 3,753 Sq Ft (348.65 Sq M)
167-169 West Street Fareham Hampshire SATNAV PO16
0EF
Your Local Experts for
Town Centre Location Total Headline Income £30,800 NIY 7.19% Reverting To 9.71% Net Of Headline Rent Freehold
Property Click to View our Latest Instructions
Portsmouth
O23 9237 78OO
Southampton
O23 8011 9977
Commercial Estate Agency > Property Management > Valuations > Development Advice Rating > Investment Advice > Building Surveys > Arbitration > Rent Review / Lease Renewal
hi-m.co.uk
167-169 West Street, Fareham, Hampshire LOCATION
EPC RATING
Fareham is a major town on the South Coast situated roughly equidistant between Portsmouth and Southampton, located to the south of the M27. West Street is the principle shopping area and in part pedestrianised accommodating a major shopping centre and usual multiple retailers.
No.167 - C (67) No. 169 - C (53)
LOCATION PLAN
The subject premises are located within the non pedestrianised area of West Street on the northern side, situated approximately 25m west of the intersection with Trinity Street.
DESCRIPTION The property comprises a three storey mid terraced structure, set around a concrete frame having previously been adapted and developed for the current configuration. The ground floor provides two large self-contained retail units providing mostly open plan accommodation with ancillary staff and WC facilities. The shops benefit from a busy High Street roadside frontage with rear loading / access plus 2 parking spaces. The first floor is occupied by a Church and provides mostly open plan accommodation. The top floor has been developed to provide 8 self-contained flats all sold on long leases.
OTHER COSTS Each party to be responsible for their own legal costs incurred in the transaction.
ACCOMMODATION Unit 167 Ground Floor Sales Area Store/Kitchenette Rear Raised Level Store Total Net Internal Area
151.46 / 1,630 sq.ft 16.70 sq.m / 180 sq.ft 9.48 sq.m / 102 sq.ft 177.65 sq.m / 1,912 sq.ft
Unit 169 Ground Floor Sales Area Store Kitchenette Total Net Internal Area
150 sq.m / 15 sq.m / 6 sq.m / 171 sq.m /
167-169- Total
348.65 sq.m. / 3,753 sq.ft.
1,618 sq.ft 162 sq.ft 65 sq.ft 1,845 sq.ft
DISCLAIMER
Holloway Iliffe & Mitchell Limited
TERMS
Registered Office:10 Acorn Business Park Northarbour Road Portsmouth PO6 3TH
The freehold interest of the whole block is being offered subject to the occupational leases on the ground floor, long leasehold interests on the first and second floors, as follows:-
For the Lessors or Vendors of this instruction, whose Agents they are, give notice that; These particulars are set out as general guidance only to intending Purchasers or Lessees, and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Lessees, Purchasers or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Holloway Iliffe & Mitchell has any authority to make any representation or warranty whatsoever in relation to this property.
First floor – Let for a term of 999 years from 2007 at a peppercorn rent. Second Floor – Let by way of a 999 lease on the whole from 2006 with 8 separate long leasehold interests each for a term of 125 years and each paying £100 per annum. Shops – These are let on commercial leases as follows:167 West Street – Let jointly to Mr Jaranjeet Singh and Harman Singh Kapoor, T/a a Costcutter Covenience Store for a term expiring in February 2041 on effective full repairing insuring terms at a Headline rent of £16,000 per annum exclusive.
VIEWING Strictly by appointment with sole agents Luke Mort T 023 9237 7800 E [email protected]
169 West Street - Let to The Trussell Trust for a term expiring in April 2025 on effective full repairing insuring terms at a Headline rent of £14,000 per annum exclusive. The Trussell Trust were founded in 1997 and currently have multiple trading locations. They have an Experian Credit Check Report Score of 89. The freehold is available subject to the above leases for offers in excess of £300,000, which provides a NIY of 7.19% reverting to 9.71% net of headline rent.
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As responsible landlords, our client has regard to the recommendations of the Code of Practice for Commercial Leases in England & Wales. If you are professionally represented, you should ask your advisor for a copy. Alternatively, the document can be found at www.leasingbusinesspremises.co.uk or be obtained from The Royal Institution of Chartered Surveyors (Tel: 020 7343 3806) In accordance with the code, our client is willing to consider alternative lease terms to those proposed. If you wish to suggest different terms, please set these out clearly in your reply. Please bear in mind however that variations may affect the level of rent proposed.
Date Prepared: 23-Feb-2016
HOLLOWAY ILIFFE & MITCHELL
CENTRALLY LOCATED RETAIL INVESTMENT 3,753 Sq Ft (348.65 Sq M)
167-169 West Street Fareham Hampshire SATNAV PO16
0EF
Your Local Experts for
Town Centre Location Total Headline Income £30,800 NIY 7.19% Reverting To 9.71% Net Of Headline Rent Freehold
Property Click to View our Latest Instructions
Portsmouth
O23 9237 78OO
Southampton
O23 8011 9977
Commercial Estate Agency > Property Management > Valuations > Development Advice Rating > Investment Advice > Building Surveys > Arbitration > Rent Review / Lease Renewal
hi-m.co.uk
167-169 West Street, Fareham, Hampshire LOCATION
EPC RATING
Fareham is a major town on the South Coast situated roughly equidistant between Portsmouth and Southampton, located to the south of the M27. West Street is the principle shopping area and in part pedestrianised accommodating a major shopping centre and usual multiple retailers.
No.167 - C (67) No. 169 - C (53)
LOCATION PLAN
The subject premises are located within the non pedestrianised area of West Street on the northern side, situated approximately 25m west of the intersection with Trinity Street.
DESCRIPTION The property comprises a three storey mid terraced structure, set around a concrete frame having previously been adapted and developed for the current configuration. The ground floor provides two large self-contained retail units providing mostly open plan accommodation with ancillary staff and WC facilities. The shops benefit from a busy High Street roadside frontage with rear loading / access plus 2 parking spaces. The first floor is occupied by a Church and provides mostly open plan accommodation. The top floor has been developed to provide 8 self-contained flats all sold on long leases.
OTHER COSTS Each party to be responsible for their own legal costs incurred in the transaction.
ACCOMMODATION Unit 167 Ground Floor Sales Area Store/Kitchenette Rear Raised Level Store Total Net Internal Area
151.46 / 1,630 sq.ft 16.70 sq.m / 180 sq.ft 9.48 sq.m / 102 sq.ft 177.65 sq.m / 1,912 sq.ft
Unit 169 Ground Floor Sales Area Store Kitchenette Total Net Internal Area
150 sq.m / 15 sq.m / 6 sq.m / 171 sq.m /
167-169- Total
348.65 sq.m. / 3,753 sq.ft.
1,618 sq.ft 162 sq.ft 65 sq.ft 1,845 sq.ft
DISCLAIMER
Holloway Iliffe & Mitchell Limited
TERMS
Registered Office:10 Acorn Business Park Northarbour Road Portsmouth PO6 3TH
The freehold interest of the whole block is being offered subject to the occupational leases on the ground floor, long leasehold interests on the first and second floors, as follows:-
For the Lessors or Vendors of this instruction, whose Agents they are, give notice that; These particulars are set out as general guidance only to intending Purchasers or Lessees, and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Lessees, Purchasers or Third Parties should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Holloway Iliffe & Mitchell has any authority to make any representation or warranty whatsoever in relation to this property.
First floor – Let for a term of 999 years from 2007 at a peppercorn rent. Second Floor – Let by way of a 999 lease on the whole from 2006 with 8 separate long leasehold interests each for a term of 125 years and each paying £100 per annum. Shops – These are let on commercial leases as follows:167 West Street – Let jointly to Mr Jaranjeet Singh and Harman Singh Kapoor, T/a a Costcutter Covenience Store for a term expiring in February 2041 on effective full repairing insuring terms at a Headline rent of £16,000 per annum exclusive.
VIEWING Strictly by appointment with sole agents Luke Mort T 023 9237 7800 E [email protected]
169 West Street - Let to The Trussell Trust for a term expiring in April 2025 on effective full repairing insuring terms at a Headline rent of £14,000 per annum exclusive. The Trussell Trust were founded in 1997 and currently have multiple trading locations. They have an Experian Credit Check Report Score of 89. The freehold is available subject to the above leases for offers in excess of £300,000, which provides a NIY of 7.19% reverting to 9.71% net of headline rent.
follow us..
As responsible landlords, our client has regard to the recommendations of the Code of Practice for Commercial Leases in England & Wales. If you are professionally represented, you should ask your advisor for a copy. Alternatively, the document can be found at www.leasingbusinesspremises.co.uk or be obtained from The Royal Institution of Chartered Surveyors (Tel: 020 7343 3806) In accordance with the code, our client is willing to consider alternative lease terms to those proposed. If you wish to suggest different terms, please set these out clearly in your reply. Please bear in mind however that variations may affect the level of rent proposed.
Date Prepared: 23-Feb-2016
