High Street Retail Property for sale

High Street, Alton, Hampshire GU34


£1,395,000
5,666 ft²

Features

  • 5,666 Sq Ft / 526.3 Sq M (nia)
  • Alton High Street
  • Freehold
  • Freehold Retail Investment
  • Gross Yield of 6.6%
  • Ground Rents of £1,800 pa
  • Let to a National & Regional Covenant
  • No VAT payable
  • Passing Rent of £90,300 pa
  • Popular Market Town

Description

Occupying a town centre location, the ground floor of the building currently comprises a retail unit (let to Rawlings Opticians) and a bank (let to NatWest), with the latter benefitting from a small rear first floor staff room. The property boasts period detail and is of traditional brick and timber joist upper floors, with a frontage of brick and traditional single-glazed, timber-framed, rising sash windows.

The property comprises a late Victorian three storey building whose upper floors were previously sold off on a 999 year lease and converted into eight residential apartments, all of which have been sold with 125-year under-leases.

Nearby occupiers include Costa Coffee, Co Op Express, tsb, Vodafone, The Swan Hotel and hsbc. The property is located in a Conservation Area.

Relying upon information provided by the Valuation Office Agency, we can advise a total net internal area (nia) of 5,666 Sq Ft / 526.3 Sq M, comprised as follows:

No 36 (Rawlings Opticians) 1,721 Sq Ft / 159.9 Sq M

No 38 (Nat West Bank) 3,945 Sq Ft / 366.5 Sq M
Tenure

We are instructed to market the asset as a freehold commercial investment, subject to the existing leases, at a guide price of £1,395,000.
Rateable value

Each property is individually assessed and listed in the 2017 rating list as having a rateable value as follows: No.36 - £34,750 No.38 - £47,000

For further information on business rates please refer to the relevant Local Authority.
EPC rating

No.36 - rated D valid until 28/01/31 under certificate reference No.38 - rated C valid until 28/01/31 under certificate reference .
Viewings

No direct approach to the current occupiers is permitted. For all enquiries and to arrange a viewing please contact sole agent Trinity Rose Commercial on .
Legal costs and VAT

Each party is expected to bear their own legal costs in this transaction.

We are advised that VAT will not be charged.

A prominent High Street commercial premises, centrally located in the market town of Alton on an internal one-way system. The location enjoys high levels of footfall and on street car parking and is strategically well-positioned to benefit from the proposed redevelopment of the nearby Molson Coors Brewery by CALA Homes.

Alton benefits from a wide range of shopping facilities and excellent road links with the A31 for Farnham (9 miles), Guildford (20 miles) and Winchester (16 miles). Alton offers a mainline railway station with connections to London Waterloo via Woking.

Categories

High Street Retail Property
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Property reference
TH2315_87