92 Avenue Road, Portswood, Southampton, Hampshire SO14 6TX

> Established Commercial Warehouse/Store/Shop Premise
> Requiring Complete Modernisation - Corner Plot
> Potential For Change Of Use/Redevelopment (STPP)

Guide Price: £150,000 Plus

Description:

Location

This well established commercial property sits on the corner of the junction of Earls Road and Avenue Road, which are located in the Portswood area of Southampton. The area is well placed for access to Southampton City Centre and various travel networks.

Description

This well established shop/warehouse premise measure overs 1700 sq ft of floor area and forms the end of a terrace of residential properties. The property requires complete modernisation or possible redevelopment/ change of use of the site (subject to obtaining any necessary consents).

Accommodation

Ground floor: Counter Area (Approx. 298 sq ft), Storage Area (Approx. 260 sq ft), Inner Hallway/Storage Area with Stairs to Cellar (Approx. 118 sq ft), Warehouse/Workshop Area (Approx. 786 sq ft), WC. Cellar: Rooms One and Two (Approx. 329 sq ft).

Tenancy Details

The property is currently let at £500 pcm on a monthly basis. Prospective buyers are advised to satisfy any enquiries regarding the status of the tenancy prior to bidding.

Agents Note

(1) The building provides in excess of 1700 sq ft of floor area to include the cellar. The seller has advised us that pre covid he received a letter confirming the property qualifies for small business rates relief and is therefore exempt from business rates. (2) The property will require some improvements and upgrading or may well suit demolition and replacement based upon an end users planning/ requirements. The property will fall into the new commercial class E from 1st September 2020. We feel that potential purchasers would also be wise to make enquiries over the potential proposed changes in planning policy in particular the permitted development rights coming into effect in September 2020 that may shortly allow for commercial properties to be converted into residential use. All buyers must satisfy their own enquiries over this prior to bidding and must not rely upon this guidance as a statement of fact, along with satisfying any enquiries regarding the current and any future use prior to bidding.

Tenure

Freehold

EPC Rating

F

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.