31 High Street, Eastleigh, Hampshire, SO50 5LF

A Freehold retail investment let to a national bookmakers

Property details

Type Investment, Retail
Tenure Freehold, subject to existing tenancy.
Price Offers invited at £225,000
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Features
  • Prominent main High Street location
  • Two story mid parade property
  • Let in its entirety to Done Brothers (Cash Betting) Ltd trading as Bet Fred
  • Passing rent - £25,000 per annum
  • Excellent asset management potential
  • Freehold - Offers over £225,000
Location
Eastleigh is a busy town about 5 miles to the north of Southampton, with excellent road links via the M27, a direct rail journey to London Waterloo and air links to the rest of England & the continent from the nearby Southampton Airport. As a result it has built an enviable reputation as a distribution and manufacturing centre. The retail centre of Market Street and the more secondary High Street is supplemented by The Swan Shopping Centre with its Vue based leisure/restaurant extension.
Description

The property comprises a two storey mid parade property with a ground floor retail shop, currently trading as a national bookmakers with ancillary accommodation to the first floor. The ground floor shop extends to approximately 1,027 sq. ft (GIA) with staff and toilet facilities to the rear. There is accommodation to the first floor which is incorporated within the lease to the ground floor tenant.

Price
£225,000 is sought for the freehold interest.
Tenancy
The property is let in its entirety to Done Brothers (Cash Betting) Ltd, who are holding over on a 15 year lease at a passing rent of £22,000 per annum exclusive.
VAT
We are advised that VAT is payable , although it is anticipated that the transaction will be dealt with by way of a TOGC.
Business Rates
The property has a rateable value of £14,250.
EPC
Available upon request.
Legal Costs
Each party are to responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering
In accordance with Anti Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.