Retail premises for sale in St Thomas Street, Lymington SO41

Offers over £250,000 (£429.55/sq. ft)
Interested in this property? Call +44 20 3641 9157 * or Request Details

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Retail premises for sale 582 sq. ft*

Property features

  • Sale Leaseback. Property owned by an owner occupier
  • New 15 year lease to be signed upon completion.
  • The owner, who will become the tenant, has been in occupation since 2017.
  • Well Natural has another location in Salisbury

Property description

Investment Consideration:
Gross Initial Yield: 7.20%
Rental Income: £18,010 p.a.
VAT is not applicable to this property
Sale Leaseback. Property owned by an owner occupier. New 15 year lease to be signed upon completion. The owner, who will become the tenant, has been in occupation since 2017.
Well Natural has another location in Salisbury
Grade II Listed building comprising ground floor retail shop with ancillary accommodation above
Nearby occupiers include Waitrose Superstore, M&S Simply Food, Domino`s Pizza and many more.

Property Description:
The property comprises ground floor retail shop with first and second floor residential flat (sold off). The property benefits from rear yard and additional external storage, providing the following accommodation and dimensions:
Ground Floor Shop: 55 sq m (582 sq ft)
Open plan retail, storage, kitchenette, WC
First Floor and Second Floor Flat: 110 sq m (1,184 sq ft)
Two bedrooms, kitchen, bathroom

Tenancy:
The property will be sold and leased back by the existing owner occupier for a term of 15 years from successful sale completion at agreed rent of £18,000 per annum on a full repairing and insuring lease. Rent review every 5 years open market, upward only. Tenant option to determine on the 10th anniversary with minimum 6 months’ notice. Well Natural has another location in Salisbury. For more information please refer to .

Location:
The Georgian market town of Lymington is set on the coast in the beautiful New Forest National Park, between Southampton and Bournemouth. Famous for its sailing history, there are two large marinas filled with fishing boats and yachts, as well as two sailing clubs. Lymington High Street has several independent shops and designer boutiques, as well as a local market held each Saturday which dates back to the 13th century. The property is located on the north side of St Thomas Street, with occupiers nearby including Waitrose Superstore, M&S Simply Food, Domino`s Pizza and Boots Pharmacy, amongst many more retailers.

Property info

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

Arrange Viewing

For more information about this property, please contact
Blue Alpine Partners, SW1P on +44 20 3641 9157 * (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 Blue Alpine Partners, and do not constitute property particulars. Please contact Blue Alpine Partners 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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