Park Road South 4 Properties Offered at £2,500,000 in Havant

The freehold is avaialable for purchase at a guide price of £2.5m exc VAT subject to contract, for the Freehold interests subject to the subsisting tenancies. This reflects a highly attractive Net Initial Yield of 8.49% on the contracted income assuming purchaser’s costs of 6.38% and Net Reversionary Yield of 12.38%. The freehold title is in the process of being registered. The property will therefore be sold subject to completion of that registration, which will be Possessory Title, with inclusion of an indemnity policy
The property comprise a prominent multi-let commercial premises incorporating a main two storey ‘L’ shaped block with predominantly ground floor retail and first floor offices. Two retail units, located on the most southerly section of the building, extend over first floor. In addition to the main block is a detached workshop / store located in the central parking area (West End Store) and also a single storey flat roof office / retail unit (1B Brockhampton Lane), adjacent the vehicular access point from Brockhampton Lane.
There is also vehicular access from Park Road South. The first floor office suites are split into three sections; 8 Park Road South, (comprising 7 suites), 1A Brockhampton Lane (comprising 9 suites) and two suites located above 41-45 West Street. All three have their own secure ground level pedestrian access points leading to stairwell. The office accommodation is well presented with modern double glazed uPVC windows, carpet, mix of suspended and plasterboard ceilings with either inset or mounted lighting, plus gas central heating with two boilers located within the communal areas. All parking on site is allocated to occupiers.