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Retail Investments, Ground Rents for Sale

Latimer Street, Romsey, SO51

£520,000.00 £204.32 /sf
2,545 sf
Retail Investments, Ground Rents for Sale

Latimer Street, Romsey, SO51

£520,000.00 £204.32 /sf
2,545 sf
An opportunity to buy a freehold investment with an established tenant in the Market Town of Romsey. This two storey mid-terrace property is highly visible from Latimer Walk linking the town centre with Waitrose and car parks. The ground floor trades as Dish delicatessen with 9 years unexpired; they have been trading from the unit for 12 years. Two first floor flats have been sold on long 125 year leases. There 2 car parking spaces.
The retail unit has a new lease with 9 years unexpired (tenant only break at sixth anniversary). The current rent payable is £38,900 with 3 yearly rent reviews. There is a rent deposit of £9,725. The lease is fully repairing and insuring by way of service charge.
There are two first floor flats sold on 125 year long leases from 1st April 2006 expiring 30 March 2131. Flat 16B has two bedrooms and Flat 16C has one bedroom. Both have a kitchen and a living room. The ground rent is £150 pa per flat which doubles every 25 years, eventually rising to a combined total income of £4800 per annum.

Location

Romsey is a busy and affluent Market town in South Hampshire, approximately 9 miles north west of Southampton and 4 miles from Junction 3 of the M27. The subject property is in the Town Centre close to a variety of shops, restaurants and Romsey Abbey. Local occupiers include Costa Coffee, Boots and WHSmith.

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Investment property for SaleInvestment property for Sale in Romsey
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Investment property for SaleRomseyLatimer Street, Romsey, SO51