Lot O3 - 10/12 Pound Tree Road, Southampton, Hampshire, SO14 1NA

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £460,000

Freehold Shop and Residential Ground Rent Investment

  • City Centre Location
  • Comprising two shops and residential accommodation (sold off)
  • Part let to Power Leisure Bookmakers Ltd
  • Total Current Rents Reserved £45,850 pa (1)

Tenure

Freehold

Location

The property is situated on the south side of Poundtree Road, in-between it's junctions with Above Bar Street and Sussex Road in an established trading location, in the City Centre
Occupiers close by include Coral & Betfred (both opposite), JD Sports (adjacent) Nationwide, NatWest, Card Factory, TK Maxx and Barclays amongst others.

Description

This property is arranged on basement, ground and two upper floors to provide two self-contained ground floor shops each with ancillary basement accommodation. The upper parts comprise residential accommodation which has been sold off on a long lease.

VAT

VAT is applicable to this sale, please refer to the legal documents for further details.

Buyers Fee

Buyers Fee -The successful purchaser will be required to pay the auctioneers administration fee of £600 inclusive of VAT. Other additional costs/fees may apply please see Special Conditions of Sale


Log in to view your status

Unsold

This auction lot is now closed.

Auction Ended

Connecting to server...

* Reserve not to exceed:
£460,000
Gross initial yield:
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
10 Power Leisure
Bookmakers Ltd
Gross Frontage
Net Frontage
Shop Depth
Built Depth
Basement
6.30m (20' 8")
5.05m (16' 7")
12.50m (41' 0")
12.80m (41' 12")
40.50 sq m (436 sq ft)
25 years from 29.08.1995
Rent Reviews every 5th year
FR and I
£28,000 p.a. Reversion 2020
12 Amarjit Dha Gross Frontage
Net Frontage
Shop Depth
Built Depth
Basement
2.80m (9' 2")
2.30m (7' 7")
12.05m (39' 6")
12.80m (41' 12")
19.50 sq m (210 sq ft)
15 years from 06.08.2001 (2)
Rent Reviews every 5th year
FR and I
£17,750 p.a. Holding Over (1)
1st and 2nd Floors MYA Property Limited Residential 150 years from 29.09.2003 £100 p.a. Reversion 2153
Total £45,850 pa (1)
(1) We understand from the Seller that they are in advanced talks with the Tenant to sign a lease renewal for a term of 15 years at £19,000 pa subject to a tenants option to break on the 5th and 10th anniversaries.
(2) £9,138 surety held. £3,812.5 relates to a previous tenant and £5,325 relates to A Dha.
  • * The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price.
  • The Reserve Price will only be disclosed once it has been met during bidding and not before.
  • The term "reserve not to exceed £..." means that the seller's lowest acceptable sale price will not exceed the quoted figure. The reserve price will not be set above this figure. However, it could be set at, or indeed below, the "reserve not to exceed" figure stated.
  • Reserve prices are subject to change up to the date of the auction.
  • At the commencement of marketing a starting price is to be announced. The starting price will be published 24 hours before bidding opens.
  • Lots may be withdrawn prior to auction.