Two shop units within a popular neighbourhood retail parade with residential accommodation above which have been sold on long leases
• Seeking a price of £150,000 per unit subject to contract which reflects a NIY of 6.55% after allowing for 1.80% purchasers costs.
• We understand the buildings are not elected for VAT
• Current passing rent of £10,000 pa per unit.
• Upward only rent reviews in March 2018 and April 2019.
The property is currently a single retail warehouse unit, totalling 2,307.5 sq m (24,838 sq ft GIA). It benefits from 6.0 metres to underside of haunch with the ability to accommodate mezzanine floors, subject to planning.
Brighton Road Retail Park is located one mile south west of Basingstoke town centre on the A30 Winchester Road in the town’s primary retail warehousing location. The park is easily accessible, being located just outside the Basingstoke ring road (Ringway A340) and less than 3 miles from Junction 6 of the M3. Basingstoke is situated 20 miles north east of Winchester, approximately 30 miles north east of Southampton and just under 50 miles south west of London.
Realla operates a heavily trafficked listing service for Basingstoke shops, retail units and other markets in the UK with more than £6 billion of commercial property for sale and 12 billion sq. ft. of commercial property space for lease. Realla also attracts a large community of Basingstoke commercial real estate professionals with 1,000s of members comprised of agents, corporate executives, service providers, and more than 1 million buyers, tenants and other principals throughout the UK.