Offers in region of
£550,000
(£163.59/sq. ft)
Retail premises for sale151-153 Copnor Road, Copnor, Portsmouth PO3
3,362 sq. ft
EPC Rating: E
Freehold
About this property
Rare Freehold Investment Opportunity
Mixed Use Retail and Residential
Busy Roadside Frontage
Potential for Retail Space to be Split or Developed
Rear Pedestrian Access
Description
The property comprises a ground floor retail space with rear stores and office space which has the potential to be sub-divided or redeveloped to create either two retail units or additional residential space (Subject to Planning).
The upper floors provide 2 two bedroom flats accessed from the side and rear access off Copnor Road and Wallington Road.
The current rental income for the flats is as follows: Flat 151a - £1,000 per calendar month; Flat 153a £950 per calendar month
Location
Copnor Road is one of the main arterial routes into and out of Portsmouth linking with the M27, A27 road networks to the north. Copnor Road (A288) is a busy thoroughfare and the subject being is located on the western side of Copnor Road inbetween the roads of Wallington Road to the south and Epworth Road to the north.
Terms
Freehold of the property is available at a price of £550,000 subject to two AST's for the flats and with vacant possesion of the shop. The current rental income is £23,400 per annum
We understand that the erv for the whole building is £48,500 per annum and this would give a gross yield of 8.8% based on the quoting price.
Business Rates & Council Tax
Retail Rateble Value £14,750 per annum
Council Tax Flat 151a and 153a - Band A
EPC
Retail - To be reassessed
Flat 151a - Band D (66)
Flat 153a - Band D (55)
Other Costs
Legal Costs - Each party to bear their own costs incurred in the transaction
VAT - Unless stated otherwise all costs and prices are exclusive of VAT
The property comprises a ground floor retail space with rear stores and office space which has the potential to be sub-divided or redeveloped to create either two retail units or additional residential space (Subject to Planning).
The upper floors provide 2 two bedroom flats accessed from the side and rear access off Copnor Road and Wallington Road.
The current rental income for the flats is as follows: Flat 151a - £1,000 per calendar month; Flat 153a £950 per calendar month
Location
Copnor Road is one of the main arterial routes into and out of Portsmouth linking with the M27, A27 road networks to the north. Copnor Road (A288) is a busy thoroughfare and the subject being is located on the western side of Copnor Road inbetween the roads of Wallington Road to the south and Epworth Road to the north.
Terms
Freehold of the property is available at a price of £550,000 subject to two AST's for the flats and with vacant possesion of the shop. The current rental income is £23,400 per annum
We understand that the erv for the whole building is £48,500 per annum and this would give a gross yield of 8.8% based on the quoting price.
Business Rates & Council Tax
Retail Rateble Value £14,750 per annum
Council Tax Flat 151a and 153a - Band A
EPC
Retail - To be reassessed
Flat 151a - Band D (66)
Flat 153a - Band D (55)
Other Costs
Legal Costs - Each party to bear their own costs incurred in the transaction
VAT - Unless stated otherwise all costs and prices are exclusive of VAT
Mortgage calculator
Monthly repayment
£2,751 per month
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