6A Wells Place, Eastleigh, Hampshire
, SO50 5PP
, United Kingdom Price: Sale Price: £400,000
Size: 648 sq ft60 sqm Primary Category: Shop All Categories:
Shop, Property Ref/Movehut: MH632926 Property Ref/Agent: 6433
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: September 27, 2021
Eastleigh is located approximately 5 miles north of Southampton and 9 miles south of Winchester; both accessed via Stoneham Way/Thomas Lewis Way and M3 respectively.
The subject property is located in a prime trading position on Wells Place, opposite The Swan Centre and within walking distance of Eastleigh Train Station.
Nearby occupiers include, Tesco Metro, Caffe Nero and McDonald's along with other national occupiers located in Market Street and in The Swan Centre, these include, Boots, H&M, TK Maxx, WH Smith, Argos and many more.
The retail unit comprises ground floor sales area and a kitchen & WC on first floor. The second floor comprises a 2 bed flat benefiting from separate rear access.
Commercial Floor Area
Ground Floor Store Area - 603 sq ft (56.05 sq m)
First Floor Kitchen - 45 sq ft (4.19 sq m)
Total - 648 sq ft (60.24 sq m)
Residential - 516.67 (48m2
We understand the property benefits from A1 (Retail) however interested parties are advised to make their own enquiries with Eastleigh Borough Council.
Asset Rating - C62
Offers considered in the region of £400,000 subject to contract for the freehold interest with the benefit of the existing lease agreements. A purchase at this level realises a net initial yield of 5.8% after deducting purchasers costs of 3.8%.
Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.
The ground floor is let to a private individual at a passing rent of £16,500 for a term of 5 years commencing 12th March 2020 with an upward only rent review on the 3rd anniversary of the lease. The lease is drafted within the 1954 Landlord and Tenant Act.
The residential flat is let on an AST agreement at a passing rent of £705 per calendar month.
The combined annual income is £24,960 PAX.
New 5 year commercial lease
Two income streams
Prominent trading position
Opposite Swan Centre
2 bed flat
EPC for 6A Wells Place, Eastleigh, Hampshire
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