LOCATION
The premises are located in Bridge Street, Andover close to Domino’s, Iceland and The White Hart Hotel.
DESCRIPTION
The premises comprise a three-storey, retail & residential property with 6 parking spaces.
Two Ground Floor Shops of 67.2 m2 [723 ft2] & 56.8 m2 [611 ft2] let & producing £33,000 pax together with 8 Bed-Sits on Upper Floors let on a ground lease & producing £2,276.63 pax with annual RPI rent review.
SERVICES
Mains electricity, water and sewerage.
ACCOMMODATION
| |
m2 |
[ft2] |
| GROUND FLOOR |
|
|
| 27 Bridge Street |
67.2 |
[723] |
| 29 Bridge Street |
56.8 |
[611] |
| |
|
|
| UPPER FLOORS |
|
|
| 8 Bed-Sits & Communal Facilities |
|
|
Approximate net internal measurements in accordance with the RICS Code of Measuring Practice 6th Edition.
ENERGY PERFORMANCE CERTIFICATES
27 Bridge Street B34 - Valid until 29/05/2025.
29 Bridge Street A23 - Valid until 27/05/2034.
Upper Floors B45 - Expired on 04/08/2023
RATING ASSESSMENTS
| Property |
|
Rateable Value |
| 27 Bridge Street |
|
£13,000 |
| 29 Bridge Street |
|
£13,250 |
COUNCIL TAX
| Property |
|
Council Tax |
| Upper Floors, 27 -29 Bridge Street |
|
Band G |
BID [BUSINESS IMPROVEMENT DISTRICT]
The premises are within a BID and are subject to a charge of 2% of the Rateable Value per year if the Rateable Value is £10,000 or above.
TENURE
Freehold.
LETTINGS
27 Bridge Street
Let to Hakkar Marewani on a 15-year FRI lease from 28/11/2025 subject to 5 yearly rent reviews, and at a rent of £17,000 pax.
29 Bridge Street
Let to Sarvansh GlobalLink Services Ltd on a 6-year FRI lease from 07/10/2025 with 3 yearly rent reviews, tenant option to break at 07/10/2028, security of tenure excluded at the end of the term, and at a rent of £16,000 pax.
Upper Floors, 27-29 Bridge Street
Let to Sanctuary Housing Association on a 99-year FRI ground lease subject to annual RPI rent reviews and at a current rent of £2,276.63 pax.
PRICE
Offers invited in the region of £400,000 which will show a purchaser a net initial yield of approximately 8.47% after deducting purchasers’ costs at 1.75% and SDLT.
VAT
VAT is not currently charged.
LEGAL COSTS
Each party to bear their own legal costs.
Ref: 3946C
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