Commercial property for sale in High Street, Andover SP10

*** Commercial to Residential Investment Opportunity with Planning ***

Prime, two-storey grade 2 listed premises with ground floor retail and first floor offices, presently both let to separate businesses. Planning permission is in place to convert the upper floor into a self-contained 1 bedroom flat with the benefit of beautifully exposed original wood beams and separate access already in place.

Combined Rental Income: £26,700 per annum

Approx Residential value of flat once converted: £150,000 - £160,000

Services

Mains electricity, water and sewerage.

Accommodation

Ground Floor Retail 600 sq ft (total)
First Floor Retail 559 sq ft (total)

total: 1159 sq ft (total)

Energy performance certificate

Ground: C55
First: E101
Both valid until 26 06 2028

Rating assessment

Rateable Value from 01/04/2023
Ground: £10,500
First: £7,200

Planning
All information relating to the planning of the first floor planning approval for residential conversion can be found on the Test Valley Planning Portal using the following: 19/01099/fulln

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 of the individual address is £10,000 or more.

Terms

for sale freehold

about andover

The Andover area is predicted to have a population in the region of 50,000 people (by 2020) and is scheduled to grow further over the next few years.

The town has become the home of the new administrative headquarters of the British Armys Land Forces and the Co-operative Groups new 43,484 m2 [467,891 ft2] distribution depot.

Many well known Companies are located in the Andover area including Agricultural Mortgage Corporation, Britax-Excelsior, Simplyhealth, Lloyds Banking Group, Londis, Office Depot, Petty Wood, Stannah Lifts and Twinings to name but a few.

There are good road links to: London, the M25 and Heathrow & Gatwick Airports by the A303 dual-carriageway and M3; the West Country again by the A303; the major South Coast Ports of Southampton and Portsmouth by the A34/M3; and, the Midlands and the North by the A34/M40.
Andover also has a mainline railway station on the London, Waterloo - Exeter line. London Waterloo in less than 1 hour

Council tax band: X, Tenure: Freehold