Retail premises for sale in The Market Inn, Petersfield GU32

Non-quoting
Retail premises for sale 2,246 sq. ft*
Interested in this property? Call +44 1483 665861 * or Request Details

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Property features

  • Prominent Trading Location
  • Centre Of Market Town
  • Other retaillers closeby include Waterstones, M&S Food, Mint Velvet and Waitrose
  • Opposite Laura Ashley, Caffe Nero, Fat Face and Crew
  • Let to Joules Limited until June 2023

Property description

Summary


Retail investment for sale




Accommodation

The Property is arranged on basement, ground and first floors. The following areas are provided:

Ground Floor: 1248 sq ft, 115.94 sqm
Basement Storage: 215 sq ft, 19.97 sqm
itza: 783sq ft, 72.74 sqm

The two flats located on first floor are being retained by the vendor.

Tenancy
The ground and basement floors are let to Joules Ltd on a full repairing and insuring lease for 10 years from 13th June 2013 at a current rental of £38,500 per annum exclusive of rates & VAT (if applicable).

Covenant information
Joules Ltd are an established brand for the last 30 years and now trade from 123 shops in the UK and Republic of Ireland. Their financial figures for the year ending 27th May 2018 showed turn over of up by 18% to £186 million and profit before tax of £13 million.

Terms
Our clients are seeking a price of £525,000 (five hundred and twenty-five thousand pounds) subject to contract for their freehold interest, subject to our clients leasing back the upper floor residential accommodation on a 999 year lease. A purchase at this level would reflect a net initial yield of 7% after purchase costs of 4.8%.

VAT
We understand that the property has been elected for VAT and anticipate that the sale will be treated as a transfer of a going concern (togc).

Location

The Property occupies a prominent trading location on the Square in the centre of Petersfield and opposite The Rams Walk shopping centre and large shoppers car park. Retailers close by include WHSmith, Waterstones, Costa, Robert Dyas, Mint Velvet and Waitrose.

Additional Description

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Wadham & Isherwood, GU1 on +44 1483 665861 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Wadham & Isherwood, and do not constitute property particulars. Please contact Wadham & Isherwood for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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