MIXED RETAIL/RESIDENTIAL INVESTMENT COMPRISING RETAIL UNITS AND TWO SELF CONTAINED FLATS - FREEHOLD FOR SALE

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Overview

ID: #1687
Type: Investment
Contract: Freehold
Location: Alton

Preliminary Marketing Information

MIXED RETAIL/RESIDENTIAL INVESTMENT

COMPRISING RETAIL UNITS AND TWO SELF CONTAINED FLATS

FREEHOLD FOR SALE

18-20 Market Street, Alton, Hampshire, GU34 1HA

  • Dual frontage, Grade II listed building
  • Frontages onto Market Street and Loes Alley/Market Square
  • Letting to A2 use, care provider
  • Potential letting of former A3, takeaway unit (currently vacant)
  • Flats let on separate Assured Shorthold Tenancies

18-20 Market Street, Ground Floor

Gross Frontage 33 ft 10 in 10.31 m
Internal Width 31 ft 9.45 m
Shop Depth 12 ft 6 in 3.71 m
Built Depth 19 ft 6 in 5.94 m
Sales Area 482 sq ft 44.77 sq m

Let to a private individual, care provider t/a Melody Care on a 10 year term from May 3rd 2016.  The lease provides for 5 yearly rent review and a tenant break option at the end of the 5th year.  The current rent is £8,000 per annum exclusive with an increase in the second year to £10,000 per annum exclusive and, £12,000 per annum from the start of the third year.  The lease is outside Security of Tenure Provision of the Landlord & Tenant Act.

Loes Alley/Market Square – Ground Floor

Unit 1 225 sq ft 20.95 sq m
Unit 2 339 sq ft 31.49 sq m
564 sq ft 52.44 sq m

Currently vacant, former A3 takeaway premises, arranged as interconnected units.

Loes Alley/Market Square – First and Second Floor

Two, self-contained two-bed flats, both let on Assured Shorthold Tenancies at £650 per calendar month each.

Terms

The investment is available Freehold with price guide on request.

Viewing

Strictly by appointment through sole agents:

Glanfield Holmlund – Telephone: 01420 544117, email: glanfield.holmlund@talk21.com.

Map

Map available on request
Misrepresentation act 1967: Whilst all the information in these particulars is believed to be correct neither the agents nor their clients guarantee its accuracy nor is it intended to form part of any contract. The areas quoted are approximate.
Finance act 1989: Unless otherwise stated, all prices and rents are quoted exclusive of Value Added Tax (VAT). Any intending purchasers or lesees must satisfy themselves as to the incidence of VAT in respect to any transaction.