11 Commercial Road, Southampton, Hampshire SO15 1GF

> Mixed Commercial & Residential Freehold Investment
> Producing Annual Income Of £42,000 PA
> Restaurant, 5 Bed Licenced HMO & 2 Bed Flat

Guide Price: Sold Prior

Description:

Location

This mixed commercial and residential investment opportunity is located in Commercial Road, directly opposite the Mayflower Theatre and within walking distance Southampton mainline railway station. Southampton City Centre is also within very close proximity and offers an excellent range of major retail, leisure and employment facilities.

Description

This freehold investment opportunity is split into a ground floor commercial restaurant/bar, a self contained two bedroom apartment to the rear and a five bedroom licensed HMO to the first and second floors of the main building.

Accommodation

GROUND FLOOR RESTAURANT: Approx. 110-120 sq m of floor space arranged as Restaurant Area, Internal Storage, Kitchen, WC facilities along with a courtyard area for bin storage to the rear. 11A - First & Second Floor HMO. Accessed from the pavement in Commercial Road with door to First Floor Landing, Bathroom, Kitchen, Room One, Room Two, Stairs from Landing to Second Floor, Room Three, Room Four, Room Five. 11B - Accessed from the rear courtyard with pedestrian access gate from the rear walkway. External Wrought Iron Stairs to Entrance Hall, Kitchen, Lounge, Shower Room, Bedroom Two (option to have as 2 small single bedroom as it has 2 entrance doors), Bedroom One.

Tenancy Details

Commercial Restaurant - Let on a 15 year commercial lease at £18,000 PA subject to 3 yearly rent reviews and £500 PA maintenance contribution to the main building. (2018 rent review not commenced). 11A (5 Bedroom HMO) - Let for 3 years on an AST agreement from 9th April 2019 until 8th March 2022 for £14,400 PA. 11B (2 Bedroom Apartment) - Let on an AST agreement for 3 years from 26th September 2019 until 25th August 2022 at £9,180 PA. Tenants are liable for all bills and council tax payments.

Tenure

Freehold

EPC Rating

Commercial - B (48), 11A - D & 11B - E

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.