36 High Street, Lyndhurst, Hampshire, SO43 7BG
Auction sale - Monday 17th July 2017
Sold for £536,000
Upon the instructions ofExecutors
- Freehold retail & residential investment
- Prominently situated adjacent to Costa Coffee and opposite Budgens
- Includes 2 x three bedroom flats
- Includes a rear garden with car parking
- Current rent £17,500 (Rising to £25,000 in 2018)
The most recent insurance premiums have just been demanded from the tenants. The Seller will manage any payments received between exchange and completion although some may remain outstanding upon completion.
Summary: Prominent mixed use building with asset management opportunities
Miles: Southampton 10 miles, Lymington 9 miles, Poole 30 miles
Roads: A35, A37, A31, M27
Rail: Ashurst New Forest, Beaulieu Road, Southampton Central
Nearby Occupiers: Budgens, Costa Coffee, Lloyds Bank
The property comprises a substantial three storey building arranged as a ground floor retail unit with separate access internally and from the side of the property to two flats (2 x three bedroom flats), arranged over the first and second floors. There is a large attic space, a roof terrace and a rear garden. We understand that the tenant has an annual license from the Council that permits them access over a strip of land to the rear from the car park to provide the tenant with vehicular access to the property. There are two unmarked parking spaces. The property is situated on the south side of High Street, close to the junction with Church Lane.
The Seller has not elected to charge VAT
Energy Performance Certificate
|Address||Tenant||Floor||Use||Sq M||Sq F||Lease Terms||Rent £ pa||Rent Review|
|36 High Street||J B Backhouse t/a Berties (1)||Ground First/second||Retail/kitchen/storage 2 x three bedroom flats||81.69||879||18 years from 01/04/2015||£17,500 (Rising)||Increases to £25,000 per annum on 01/04/2018 and 5 yearly thereafter|
(1) The tenant has sub-let the first floor flat and occupies the second floor flat.
ASB Law Solicitors
* Guide price
The guide price is an indication of the minimum price at which, or if a guide price range is given, within which, the seller is prepared to sell at the date of publication. The guide price is not an anticipated sale price or valuation. All prices quoted are subject to contract.
* Reserve price
The reserve price is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell.
Both the guide and reserve may be subject to change up to and including the day of the auction. The guide price does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price. On the fall of the hammer a buyer’s fee is payable of £990 inclusive of VAT.
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