Guide price
£690,000
Property for saleLondon Street, Basingstoke, Hampshire RG21
1 bath
Freehold
About this property
Spacious
Close to Train Station
High Footfall
Busy Parade
Easy to manage
Attractive Location
Leasehold for Sale
Prime Location
Potential to Increase
Parking
Freehold for Sale – Prime Mixed-Use Investment Opportunity – Basingstoke Town Centre
Galaxy Real Estate are excited to offer the market this excellent opportunity to acquire a fully let freehold mixed-use investment located in the heart of Basingstoke town centre, London Street, RG21, which comes with further potential to increase the rental income.
The property comprises a ground-floor commercial unit currently occupied by Bethesna Turkish Bar together with two self-contained 1-bedroom residential flats above (Coral Apartments), producing a strong combined rental income of £42,000 per annum.
The ground-floor commercial unit is let on a 10-year lease commencing from 11 August 2021 at a passing rent of £18,000 per annum, with approximately 5 years remaining.
The upper residential accommodation consists of 2 x 1-bedroom flats, both fully let at £1,000 pcm each, generating £24,000 per annum.
In addition, the property offers excellent future development potential with a previous pre-application submitted for 3 additional 1-bedroom flats in 2019, creating significant scope for further value enhancement (subject to planning). Once completed, there will be an additional income of £70k per annum.
The entire building is held freehold and offers investors a rare opportunity to secure a strong income-producing asset with long-term growth potential in a prominent town centre location close to Festival Place Shopping Centre, Basingstoke Railway Station, and major transport links, including the M3 motorway.
Key Features:
• Freehold mixed-use investment for sale
• Ground floor commercial unit let to established Turkish Barbar
• 2 x self-contained 1-bedroom flats fully let
• Total current rental income: £42,000 per annum
• Revised Annual Income: £70,000 per annum
• Potential for 3 additional flats (STPP)
• Prime central Basingstoke location
• Strong investment and development opportunity
Guide Price: Offers in Excess of £690,000
Serious enquiries only. Further information available upon request.
Galaxy Real Estate are excited to offer the market this excellent opportunity to acquire a fully let freehold mixed-use investment located in the heart of Basingstoke town centre, London Street, RG21, which comes with further potential to increase the rental income.
The property comprises a ground-floor commercial unit currently occupied by Bethesna Turkish Bar together with two self-contained 1-bedroom residential flats above (Coral Apartments), producing a strong combined rental income of £42,000 per annum.
The ground-floor commercial unit is let on a 10-year lease commencing from 11 August 2021 at a passing rent of £18,000 per annum, with approximately 5 years remaining.
The upper residential accommodation consists of 2 x 1-bedroom flats, both fully let at £1,000 pcm each, generating £24,000 per annum.
In addition, the property offers excellent future development potential with a previous pre-application submitted for 3 additional 1-bedroom flats in 2019, creating significant scope for further value enhancement (subject to planning). Once completed, there will be an additional income of £70k per annum.
The entire building is held freehold and offers investors a rare opportunity to secure a strong income-producing asset with long-term growth potential in a prominent town centre location close to Festival Place Shopping Centre, Basingstoke Railway Station, and major transport links, including the M3 motorway.
Key Features:
• Freehold mixed-use investment for sale
• Ground floor commercial unit let to established Turkish Barbar
• 2 x self-contained 1-bedroom flats fully let
• Total current rental income: £42,000 per annum
• Revised Annual Income: £70,000 per annum
• Potential for 3 additional flats (STPP)
• Prime central Basingstoke location
• Strong investment and development opportunity
Guide Price: Offers in Excess of £690,000
Serious enquiries only. Further information available upon request.
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