The Red House Station Approach Romsey Hampshire SO51 8DU
Price: Sale Price: £750,000
Size: SOA Primary Category: Investment All Categories:
Investment, Property Ref/Movehut: MH409115 Property Ref/Agent: 43729
*Please use the agent ref when calling the agent directly.
This imposing building is conveniently located close to Romsey Town railway station, a few minutes from the new Waitrose supermarket development, and the many attractions of the town centre with its bars, restaurants and excellent retail facilities.
The M.27 (junction 3) is within a couple of thus allowing easy access to all parts of the Solent region and further afield via the M3 and the national motorway network. Southampton International airport is just off junction 5 of the M.27, which provides both national and international flights.
The building is undergoing the final stages of a full and comprehensive refurbishment project covering the upgrading of six (of the eight) flats on the two upper floors above two ground floor commercial areas.
Each one bedroom flat will be provided with excellent kitchen and bathroom facilities with new double glazed fenestration, decorations, electric heating and carpeting throughout. The common areas have all been remodelled to maximise the feeling of space and light wherever possible.
The commercial accommodation is aimed at the small to medium sized enterprises requiring good quality office and distribution space. All areas will be fully upgraded with double glazed windows and doors, gas fired heating, suspended ceilings in many areas, carpeting, and double glazing. There will be two suites, one of 1,493 square feet (138.70 square metres) and the other 2,300 square feet (213.67 square metres), approximately.
The six refurbished flats have all been let on Assured Shorthold Tenancies within the last three months, the rental income (monthly) being as follows:
Flat 1: 550 pcm,
Flat 2: 550 pcm,
Flat 5: 575 pcm,
Flat 6: 525 pcm,
Flat 7: 575 pcm,
Flat 8: 595 pcm.
Total: 3,370 pcm or 40,440 per annum.
The commercial accommodation has attracted interest from varying sectors including Wood Burning Stove retailers, office machinery sales, medical professionals and such like.
The asking rental terms have been reduced to just over 5.00 per square foot which would produce an income of 20,000 per annum.
Thus, the potential total income would amount to 60,440 per annum.
Offers in excess of 750,000 (stc).
See attached particulars
See attached particulars
All flats (6) are on ASTs
Residential and Commercial
All mains services to building.
EPC for The Red House Station Approach Romsey Hampshire SO51 8DU
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