LOCATION
The property is situated along West Street, within the main shopping district of Portchester. Other units nearby include Rowlands Pharmacy, Solicitors, Portchester Library and Cameron Davies opticians.
Portchester town centre is situated in Hampshire, with good road connections with London, Portsmouth, Southampton and Fareham. The nearest train station provides connections to London and across the South Coast and is approximately one mile away from the town centre.
DESCRIPTION
The ground floor provides a double shop unit with two flats above that have been sold off on long leasehold interests.
The double shop has the original two entrance doors with an opening near the front sales area to enable access between the shops.
The two flats are self-contained with their entrances via the rear, in the under-croft area. The property benefits from rear parking and access, via an unmade shared private service road off West Street.
| M | Ft | |
| Zone A sales area (WC’s excluded) | 44 sq m | 473 sq ft |
| Kitchen and Office | 12 sq m | 126 sq ft |
TERMS
The shop is let to a hair salon and barber shop on a 12-year lease from April 2022 at a rental of £9,500 pax with rent reviews due April 2025 and 2028.
The upper floor flats have been sold off on long leasehold interests with one on a nominal ground rent and the other at a peppercorn.
We are instructed to market this Freehold Investment for £125,000.
OUTGOINGS
Rateable Value:
Shop: £9700 (Source: VOA)
LEGAL COSTS
Each party to be responsible for their own legal costs incurred in this transaction.
