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2 London Rd 3,207 sq ft 100% Let Retail Property Horndean PO8 0BZ £550,000 (£171.50/sq ft) 6.64% Net Initial Yield
Investment Highlights
- Prominent corner frontage.
- Tenants in occupation for 8 years plus.
- Tenants have option to park at Tyfield House.
- Current income £36,496 pa with vacant unit on market for £12,000 pa.
- Well established tenants in local village.
- First floor previously used as residential.
- Five self-contained commercial units.
- Owned for 45 years.
Executive Summary
2 London Road occupies a prominent corner frontage onto London Road and Blendworth Lane. The property is comprised of two ground floor retail units facing onto London Road and a retail unit at the rear facing onto Blendworth Lane, which has access to a small courtyard. The first floor offices are both self contained with separate access to each offices which both have office space, kitchenette and a W/C.
Please refer to the tenancy schedule at the end of marketing brochure. Total Income is £36,496 per annum with one vacancy guiding at £12,000 pa. Once fully let, total income is anticipated to be £48,496 per annum. As part of the tenants leases, they have the right to park at Tyfield House. This is on a first come, first served basis. Tyfield House could be available by way of separate negotiation.
Please refer to the tenancy schedule at the end of marketing brochure. Total Income is £36,496 per annum with one vacancy guiding at £12,000 pa. Once fully let, total income is anticipated to be £48,496 per annum. As part of the tenants leases, they have the right to park at Tyfield House. This is on a first come, first served basis. Tyfield House could be available by way of separate negotiation.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Office
Property Size
3,207 sq ft
Costar Property Class
B
Year Built
1980
Price
£550,000
Price per sq ft
£171.50
Yield
6.64%
NOI
£36,496
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Amenities
- Bus Route
- Commuter Rail
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Nearby Major Retailers
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2 London Rd
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