6 Water Lane, Totton, Southampton, Hampshire (Archive)

> Freehold Commercial Investment Opportunity
> Retail Unit Let At £15,000 PA & £25 PA Ground Rent
> Central Location In Busy Parade/Town Centre

Guide Price: £165,000 Plus

Description:

Lease Details

The upper floor apartment has been sold on a long 999 year lease from 1st November 1987, with the Freeholder collecting the ground rent of £25 pa.

Location

Water Lane is a busy parade and central shopping location in Totton. The area serves a continual growing residential community, with a mix of tenancies in the parade to include various Charity Organisations, National Estate Agents and branded Retail Outlets. In addition, Totton also has the presence of Costa, Subway, Lloyds Pharmacy, Argos and Asda all within a short walk. Public car parking can be found to the front of the property along with two further public car parks within easy walking distance.

Description

The Freehold includes a terraced building arranged as retail space with rear access. The residential apartment (sold on long lease) is arranged over 2 floors with each party being responsible for a share of the ongoing maintenance and repair to the common parts.

Accommodation

The shop is split to provide a sales and shop front area, store and kitchen along with a separate WC to the rear of the unit. The internal measures around 54{squote} x 16{squote}6{quote} offering circa 775 sq ft of floor space.

Tenancy Details

The ground floor commercial unit is let on a FRI Lease for £15,000 PA expiring 13th March 2020. A copy of this lease will be included in the legal pack and all prospective buyers are advised to satisfy any enquiries regarding the status of the tenancy prior to bidding.

Agents Note

The shop is a trading retail unit and viewings will be restricted to supervised visits only, strictly accompanied by the Auctioneers or their agents. All questions regarding the sale of the property MUST be directed to the Auctioneers and not to any member of the Charity Shop retail team.

Tenure

Freehold

EPC Rating

D (86)

Important Notice

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price. Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at. When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.