LOCATION
The premises are located in a prominent position in The Broadway, just off Western Avenue which forms part of Andover's Inner Ring Road and within a few minutes walk of Andover Town Centre.
DESCRIPTION
The premises comprise 4 ground floor, lock-up shops and 5 first floor flats [3 x 2 bedroom & 2 x 1 bedroom] together with an external WC.
Income £88,860 pa once Shop 3 is let.
VAT is charged on the shop rents.
SERVICES
Mains electricity, water and sewerage [shop 3 currently only has mains electricity].
RATING ASSESSMENTS - COMMERCIAL
| Shop 2 |
£8,000 |
| Shop 3 |
£6,300 |
| Shop 4 |
£7,800 |
| Shops 5-6 |
£15,000 |
RATING ASESSMENTS - RESIDENTIAL
| Flat 2 |
Band B |
| Flat 3 |
Band A |
| Flat 4 |
Band A |
| Flat 5 |
Band A |
| Flat 6 |
Band A |
ENERGY PERFORMANCE CERTIFICATES - COMMERCIAL
| Shop 2 |
B34 |
|
Valid until 28/02/2033 |
| Shop 3 |
C61 |
|
Valid until 28/02/2033 |
| Shop 4 |
B46 |
|
Valid until 28/02/2033 |
| Shop 5-6 |
C67 |
|
Valid until 18/09/2024 |
ENERGY PERFORMANCE CERTIFICATES - RESIDENTIAL
| Flat 2 |
G14 |
|
Valid until 03/06/2028 |
| Flat 3 |
G17 |
|
Valid until 07/05/2028 |
| Flat 4 |
E39 |
|
Valid until 03/09/2028 |
| Flat 5 |
G19 |
|
Valid until 04/06/2028 |
| Flat 6 |
G18 |
|
Valid until 04/06/2028 |
The Seller has obtained 5 year exemptions from 24/11/2020 in respect of Flats 2, 3, 5 & 6.
TENURE
Freehold
LETTINGS
| SHOPS |
m2 |
[ft2] |
TENANT |
LEASE |
RENT |
| 2 |
55.9 |
[602] |
A F Southern Ltd |
6 years from 24/10/2018 |
£10,000 pax |
| |
|
|
|
Rent review - 3 years |
|
| |
|
|
|
|
|
| 3 |
29.0 |
[312] |
Vacant |
Asking Rent |
[£7,500 pax] |
| |
|
|
|
|
|
| 4 |
57.2 |
[616] |
P Chandrasekaran |
15 years from 15/10/2023 |
£12,000 pax |
| |
|
|
|
Rent review - 5, 10 & 15 years |
|
| |
|
|
|
|
|
| 5-6 |
93.1 |
[1,002] |
P Chandrasekaran |
15 years from 12/02/2015 |
£17,000 pax |
| |
|
|
|
Rent reviews - 5 & 10 years |
|
| |
|
|
|
|
|
| FLATS |
|
BEDS |
TENANT |
LEASE |
RENT |
| 2 |
|
2 |
Stuart Taylor |
6 month AST from 01/11/2021 |
£710 pm |
| 3 |
|
1 |
M & J Gurung |
6 month AST from 08/05/2021 |
£695 pm |
| 4 |
|
1 |
M Hornby |
6 month AST from 13/05/2024 |
£695 pm |
| 5 |
|
2 |
S Jose & J John |
6 month AST from01/08/2022 |
£720 pm |
| 6 |
|
2 |
S Velayudhan & P Vasudevan |
6 month AST from05/06/2022 |
£650 pm |
| |
|
|
|
|
|
| |
|
|
|
TOTAL RENT |
£81,360 pa |
| |
|
|
|
PLUS ASKING RENT SHOP 3 |
£7,500 pa |
| |
|
|
|
TOTAL RENT IF SHOP 3 LET |
£88,860 pa |
PRICE
Offers invited in the region of £900,000 which will show a purchaser a net initial yield of about 9.35% once Shop 3 is let after deducting legal & surveyor's costs at 1.75% and SDLT.
Ref: 3926C
Request Property Details |
