FOR SALE - Aston Rose
FOR SALE 6 High Street, Southampton SO14 2DH Retail Unit with planning permission to convert upper parts to residen al
6 High Street Southampton SO14 2DH • Prominently posi oned retail property on pedestrianised High Street • Retail unit let un l June 2024 with a passing rent of £26,000 pa • Vacant upper parts have planning permission for conversion from office to residen al • Total area of 5,238 sq (NIA) • Not VAT elected • Freehold • Offers in excess of £543,000 reflec ng a net ini al yield of 7.5% on the retail and £215,000 for the upper parts.
Loca on
Situa on
Southampton is one of the UK's major ports and commercial centres. It is located on the south coast of England and is the largest city in Hampshire, with a popula on in excess of 250,000.
The property is prominently situated on the eastern side of High Street, in the heart of the commercial city centre of Southampton, immediately to the north of the junc on with East Street.
Southampton lies 18 miles north west of Portsmouth, 13 miles south of Winchester, 23 miles south east of Salisbury and only 75 miles from London. The city has excellent road and rail communica ons, in addi on to an interna onal airport and ferry terminals. It benefits from easy access to the M3 which connects to the M27 and the M25. The M3 provides easy access to Winchester and London and the M27 provides direct access to Portsmouth.
The property fronts on to the pedestrianised sec on of the northern High Street, immediately to the south of Bargate and Above Bar Street. The property is a short distance from the entrances to The West Quay Shopping Centre, accessed off Above Bar and Bargate Street. Nearby occupiers include Costa, Superdrug, Argos, Boots, Lush, Maplin and Primark.
There are direct trains available to London Waterloo, with a fastest travel me of 1 hour 11 minutes.
2
Descrip on The property comprises a mid-terrace Grade II Listed three storey building da ng back to the mid-19th Century, with a later two storey rear extension.
The ground floor is a well configured retail unit with ancillary office space, storage and staff rest rooms to the rear and addi onal storage space in the basement.
Descrip on Basement Ground floor retail sales Ground floor ancillary ITZA Ground floor First floor NIA Second floor Total
sq m 73.01 108.10 74.06 54.95 156.66 74.77 486.6
sq 785 1,164 797 591 1,686 805 5,238
The two upper floors were used as offices but now have planning permission in place for conversion to residen al. The upper parts benefit from their own entrance from the High Street and a central lightwell which forms part of the rear extension.
The property has been measured in line with the RICS Code of Measuring Prac ce.
Accommoda on
Tenancy
The Net Internal Area of the property totals 5,238 sq .
The ground floor retail unit and the basement is let to Southern City Leisure Ltd from 13th June 2014 un l 12th June 2024 at £26,000 pa. There is an upwards only rent review dated 13 June 2019 and a tenant break clause dated 12 June 2019, with 6 months wri en no ce. S.A.L. Holdings Ltd are guarantors. The lease allows them to occupy one car parking space.
Car Park - Space for six double parked cars.
6 High Street, Southampton SO14 2DH
The upper parts are sold with vacant possession and have planning permission to convert to residen al use as detailed below.
Planning Permission The upper parts received planning permission on 2 April 2014 under applica on reference 14/00072/FUL. Planning has been granted for internal and external altera ons to facilitate conversion of first and second floors from offices to 1x 3-bed and 2x 2-bed flats with associated parking and cycle/refuse storage. The approved plans are for a 135 m2 three bed and a 78 m2 two bed on the first floor and an 83 m2 two bed on the second floor. Detailed plans are available upon request.
VAT The property has not been elected for VAT.
Energy Performance Cer ficate (EPC) The property has an energy performance asset ra ng of C(73). A full copy of the EPC is available upon request.
Proposal We are instructed to seek offers in excess of £543,000 (five hundred and forty three thousand pounds), subject to contract, for the freehold interest in the property. A purchase at this level would reflect a net ini al yield of 7.5% on the retail (a er normal purchasers costs of 5.8%) and £215,000 for the upper parts.
North
Tenure Freehold
6 High Street, Southampton SO14 2DH
3
For further informa on please contact:Rob Cragg 020 7629 1533 [email protected]
St Albans House 57/59 Haymarket London SW1Y 4QX
Ken Morgan 020 7629 1533 [email protected]
020 7629 1533 www.astonrose.co.uk
Ma Hunter 020 7629 1533 ma [email protected]
OS Plans and Maps reproduced with permission. ©Crown Copyright 2014. All rights reserved. Licence Number 100047514
MISREPRESENTATION ACT These particulars are believed to be correct and, where practicable, reasonable steps have been taken to ensure their accuracy, however this cannot be guaranteed. They do not form part of any offer or other contract. The owner of this property does not make or give, representations or warranties in relation to this property. Aston Rose (West End) Limited and its employees do not accept any responsibility for information supplied to them by the owner or any third party. Any intending purchaser or lessee must satisfy itself by inspection or otherwise as to the correctness of the particulars. All measurements are approximate. The plans in these particulars are published for convenience of identification only, and although believed to be correct, their accuracy is not guaranteed and do not form part of any contract.
July 2015
FOR SALE 6 High Street, Southampton SO14 2DH Retail Unit with planning permission to convert upper parts to residen al
6 High Street Southampton SO14 2DH • Prominently posi oned retail property on pedestrianised High Street • Retail unit let un l June 2024 with a passing rent of £26,000 pa • Vacant upper parts have planning permission for conversion from office to residen al • Total area of 5,238 sq (NIA) • Not VAT elected • Freehold • Offers in excess of £543,000 reflec ng a net ini al yield of 7.5% on the retail and £215,000 for the upper parts.
Loca on
Situa on
Southampton is one of the UK's major ports and commercial centres. It is located on the south coast of England and is the largest city in Hampshire, with a popula on in excess of 250,000.
The property is prominently situated on the eastern side of High Street, in the heart of the commercial city centre of Southampton, immediately to the north of the junc on with East Street.
Southampton lies 18 miles north west of Portsmouth, 13 miles south of Winchester, 23 miles south east of Salisbury and only 75 miles from London. The city has excellent road and rail communica ons, in addi on to an interna onal airport and ferry terminals. It benefits from easy access to the M3 which connects to the M27 and the M25. The M3 provides easy access to Winchester and London and the M27 provides direct access to Portsmouth.
The property fronts on to the pedestrianised sec on of the northern High Street, immediately to the south of Bargate and Above Bar Street. The property is a short distance from the entrances to The West Quay Shopping Centre, accessed off Above Bar and Bargate Street. Nearby occupiers include Costa, Superdrug, Argos, Boots, Lush, Maplin and Primark.
There are direct trains available to London Waterloo, with a fastest travel me of 1 hour 11 minutes.
2
Descrip on The property comprises a mid-terrace Grade II Listed three storey building da ng back to the mid-19th Century, with a later two storey rear extension.
The ground floor is a well configured retail unit with ancillary office space, storage and staff rest rooms to the rear and addi onal storage space in the basement.
Descrip on Basement Ground floor retail sales Ground floor ancillary ITZA Ground floor First floor NIA Second floor Total
sq m 73.01 108.10 74.06 54.95 156.66 74.77 486.6
sq 785 1,164 797 591 1,686 805 5,238
The two upper floors were used as offices but now have planning permission in place for conversion to residen al. The upper parts benefit from their own entrance from the High Street and a central lightwell which forms part of the rear extension.
The property has been measured in line with the RICS Code of Measuring Prac ce.
Accommoda on
Tenancy
The Net Internal Area of the property totals 5,238 sq .
The ground floor retail unit and the basement is let to Southern City Leisure Ltd from 13th June 2014 un l 12th June 2024 at £26,000 pa. There is an upwards only rent review dated 13 June 2019 and a tenant break clause dated 12 June 2019, with 6 months wri en no ce. S.A.L. Holdings Ltd are guarantors. The lease allows them to occupy one car parking space.
Car Park - Space for six double parked cars.
6 High Street, Southampton SO14 2DH
The upper parts are sold with vacant possession and have planning permission to convert to residen al use as detailed below.
Planning Permission The upper parts received planning permission on 2 April 2014 under applica on reference 14/00072/FUL. Planning has been granted for internal and external altera ons to facilitate conversion of first and second floors from offices to 1x 3-bed and 2x 2-bed flats with associated parking and cycle/refuse storage. The approved plans are for a 135 m2 three bed and a 78 m2 two bed on the first floor and an 83 m2 two bed on the second floor. Detailed plans are available upon request.
VAT The property has not been elected for VAT.
Energy Performance Cer ficate (EPC) The property has an energy performance asset ra ng of C(73). A full copy of the EPC is available upon request.
Proposal We are instructed to seek offers in excess of £543,000 (five hundred and forty three thousand pounds), subject to contract, for the freehold interest in the property. A purchase at this level would reflect a net ini al yield of 7.5% on the retail (a er normal purchasers costs of 5.8%) and £215,000 for the upper parts.
North
Tenure Freehold
6 High Street, Southampton SO14 2DH
3
For further informa on please contact:Rob Cragg 020 7629 1533 [email protected]
St Albans House 57/59 Haymarket London SW1Y 4QX
Ken Morgan 020 7629 1533 [email protected]
020 7629 1533 www.astonrose.co.uk
Ma Hunter 020 7629 1533 ma [email protected]
OS Plans and Maps reproduced with permission. ©Crown Copyright 2014. All rights reserved. Licence Number 100047514
MISREPRESENTATION ACT These particulars are believed to be correct and, where practicable, reasonable steps have been taken to ensure their accuracy, however this cannot be guaranteed. They do not form part of any offer or other contract. The owner of this property does not make or give, representations or warranties in relation to this property. Aston Rose (West End) Limited and its employees do not accept any responsibility for information supplied to them by the owner or any third party. Any intending purchaser or lessee must satisfy itself by inspection or otherwise as to the correctness of the particulars. All measurements are approximate. The plans in these particulars are published for convenience of identification only, and although believed to be correct, their accuracy is not guaranteed and do not form part of any contract.
July 2015
FOR SALE 6 High Street, Southampton SO14 2DH Retail Unit with planning permission to convert upper parts to residen al
