Commercial Property for sale in High Street, LYMINGTON

A deceptively spacious three storey (plus basement) attractive retail unit with a net sales area of 1644 sq ft plus ancillary of 1896 sq ft enjoying a prime location on Lymington High Street


A deceptively spacious three storey (plus basement) attractive retail unit with a net sales area of 1644 sq ft plus ancillary of 1896 sq ft enjoying a prime location on Lymington High Street

Affluent & busy market town
Excellent trading position
Limited roadside parking

DESCRIPTION

A substantial and attractive mid-terrace retail unit arranged over basement, ground, first, second and third floor levels incorporating three newly decorated treatment rooms, two with sinks and a cloakroom with wc and wash hand basin. These rooms are to the rear of the shop being imaginatively rendered in medieval style with a vaulted ceiling, corridors and arch doorway.

The main retail areas are on the ground and first floor with office and ancillary storage rooms/kitchen on the second and third floor levels. The second and third floors we are informed have previously been used for residential purposes but might suit additional storage/offices subject to any neccessary consent.To the rear of the property is a garden area with lockable garden gates giving access to a pedestrian right of way to Cannon Street.

The shop under the current ownership is one of the most popular establishments in the area with regular local customers and yearly repeat visitors. Stocked with an enormous variety of goods to include jewellery, stationary, frames, woodware, soft furnishing, clothing, glassware, candles, ornaments, aromatherapy and incense etc. The owners would be willing to include the business with stock at valuation and assist in the handover period.

LOCATION

Lymington is an attractive and affluent Georgian market town with a wide catchment area and situated on the southern edge of the New Forest between Southampton (18 miles) and Bournemouth (16 miles) at the western end of the Solent.

The subject property is located within Lymington's primary retailing area mainly occupied by multiple retailers to include COSTA, CAFFNERO, FATFACE, SUPERDRUG, WATERSTONES, HSBC, BOOTS, as well as many other national multiple retailers.

ACCOMMODATION

The accommodation with approximate areas and dimensions is arranged as follows:-

Ground Floor

NET SALES AREA768 SQ FT71.37 SQ M

Ancillary Accommodation/Treatment Rooms

Room 154 sq ft5.06 sq m
Room 267 sq ft6.24 sq m
Room 365 sq ft6.00 sq m
Cloakroom with WC and wash hand basin.46 sq ft4.32 sq m

First Floor

NET SALES AREA876 SQ FT81.46 SQ M

Office 52 sq ft 4.82 sq m

Second Floor Storage

2 Rooms Totalling483 sq ft44.87 sq m

Bathroom with WC and wash hand basin. Corridor. Staircase leading to:

Third Floor Storage

2 Rooms Totalling515 sq ft47.84 sq m
Plus corridor with under eaves shelving and access to parapet balcony overlooking High Street towards the Isle of Wight

Basement

Storage615 sq ft57.16 sq m

TERMS

The premises are available either upon a freehold or leasehold basis as follows:

Freehold

£650,000.

Leasehold

The premises are available to let by way of a new full repairing and insuring lease, at a commencing rent of £45,000 per annum, exclusive.

RATEABLE VALUE

According to the Valuation Office Agency website, the premises are assessed for rating purposes as follows:

Rateable Value: £25,500
Rates payable at 43.3p in the £ (year commencing 1st April 2011)

Transitional arrangements may apply.

For verification purposes and phasing/transitional relief (if appropriate) interested parties are advised to make their own enquiries on www.voa.gov.uk.

LEGAL COSTS

In the event of a freehold disposal each party are to bear their own legal costs. In the event of a letting, the ingoing tenant is to bear the landlord's reasonable legal costs incurred in the transaction.

Agents Note: The building is in need of neccessary works which have been reflected in the asking price. A survey is available for interested parties as are plans of possible reconfiguration of the premises.

VAT

Unless otherwise stated terms are strictly exclusive of Value Added Tax and interested parties must satisfy themselves as to the incidence of this tax in the subject case.

VIEWING

Strictly and only by prior appointment through the joint sole agents, through whom all negotiations must be conducted.

Fox & Sons of Lymington
01590 675424

Goadsby
01202 550000

THE PROPERTY MISDESCRIPTIONS ACT 1991
The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of a Property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor. Items shown in photographs are NOT included unless specifically mentioned within the sales particulars. They may however be available by separate negotiation. Buyers must check the availability of any property and make an appointment to view before embarking on any journey to see a property.