Commercial property for sale in London Road, Southampton, Hampshire SO15

£2,250,000
Commercial property for sale
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Property features

  • Freehold investment for sale (Retail and Residential)
  • Asking price of £2,250,000
  • Net Yield Approximately 7.4%
  • Car Parking Spaces and Ground Leases

Property description

In brief, the property comprises two well established takeaways, two well-known letting/estate agencies, eight refurbished flats, 17 separately let car parking spaces and the ground leases of Tesco Express and the student accommodation above, occupied by Hello Student Apartments.


Accommodation


Four shops and take-aways. Above 36 – 40 London Road there are seven flats, 4 x 1 bed, and
3 x 2 bed. These have recently been completely refurbished and are all let on AST’s at rents of £7,200 - £10,200 p.a. Additionally, there is a separate ground floor 1 bed flat to the rear of The Kebab House, known as 25 Asylum Road, let to a staff member for £4,680 p.a. The total residential rent is therefore £68,940 p.a.


Car parking


Although some of the shops have a parking space or two included in their leases, there are an additional 17 spaces that are let separately, either to the commercial tenants or to nearby businesses. One is vacant, for which we have allowed a notional rent of £1,400 p.a. Total income from these is therefore currently £24,680 p.a.<br /><br />Southampton is the principal retail city on the South Coast. London Road is an important northerly extension of Above Bar Street linking with The Avenue, the main arterial route out of the city to the North, leading to the M3 motorway. The main shopping centre of the city and West Quay Shopping Centre are about 500m to the South, while Solent University, Southampton City Council, The Guildhall, South Hants Hospital and Southampton City Art Gallery are all nearby. Residentially the area is surrounded by high density local population and plenty of student accommodation. The road itself is a mixture of service industry and leisure occupiers such as Tesco, Subway and Starbucks, Fox & Sons, Goadsby and Pearsons, Leeds Building Society, Coral and Betfred, plus several pubs and clubs.

Property info

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Trinity Rose Commercial, SO53 on +44 23 8210 0395 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Trinity Rose Commercial, and do not constitute property particulars. Please contact Trinity Rose Commercial 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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