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202 West St 2,593 sq ft Retail Property Fareham PO16 0HF £400,000 (£154.26/sq ft) 11% Net Initial Yield
Investment Highlights
- Heavy daytime foot traffic
- Strategic location
- Excellent connectivity
Executive Summary
The sale of the freehold interest, subject to the existing tenancies and contract, at a guide price of £400,000. A purchase at this level would reflect a NIY of 11% after usual purchasers costs of 6.8%.
The property comprises a two-storey mid-terraced building. The ground floor is configured as a single retail unit, currently let, with ancillary storage accommodation and WC facilities positioned toward the rear. The first floor provides three self-contained residential flats. The ground floor retail unit (202 West Street) is let to Made by Me Cras Limited, on a 10-year lease from May 2023 at a rent of £17,500 pax.
The property comprises a two-storey mid-terraced building. The ground floor is configured as a single retail unit, currently let, with ancillary storage accommodation and WC facilities positioned toward the rear. The first floor provides three self-contained residential flats. The ground floor retail unit (202 West Street) is let to Made by Me Cras Limited, on a 10-year lease from May 2023 at a rent of £17,500 pax.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Residential
Property Size
2,593 sq ft
Costar Property Class
C
Year Built
1950
Price
£400,000
Price per sq ft
£154.26
Yield
11%
NOI
£44,000
Tenancy
Single
Number of Floors
2
Plot ratio
0.74
Total Plot Size
0.08 ac
Amenities
- Bus Route
- Security System
- Storage Space
1 1
Nearby Major Retailers
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Videos
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Photos
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Map
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202 West St
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