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1C Union St 435 SF Retail Building Andover SP10 1PA $170,438 ($391.81/SF) 9.04% Cap Rate
Investment Highlights
- Freehold Retail Investment
- Let to the same tenants since 1998
- Just off Andover High Street
- No VAT
Executive Summary
DESCRIPTION
Single-storey retail premises with possible long-term possibility of adding first floor flat subject to planning consent.
LETTING
Julie Wakeham & Theresa Holloway have occupied the premises since 1998 and currently occupy the premises on an FRI lease from 26 June 2025 - 24 March 2031 subject to a non-downward rent review on 25 March 2028, tenant option to break on 24 March 2028 with 6 months notice, security of tenure excluded at the end of the term and at a commencing rent of £11,500 pax.
TERMS
Offers invited in the region of £125,000 which will show a purchaser a net initial yield of about 9.04% after deducting purchaser's costs at 1.75%.
VAT
VAT is not currently charged.
Single-storey retail premises with possible long-term possibility of adding first floor flat subject to planning consent.
LETTING
Julie Wakeham & Theresa Holloway have occupied the premises since 1998 and currently occupy the premises on an FRI lease from 26 June 2025 - 24 March 2031 subject to a non-downward rent review on 25 March 2028, tenant option to break on 24 March 2028 with 6 months notice, security of tenure excluded at the end of the term and at a commencing rent of £11,500 pax.
TERMS
Offers invited in the region of £125,000 which will show a purchaser a net initial yield of about 9.04% after deducting purchaser's costs at 1.75%.
VAT
VAT is not currently charged.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Building Size
435 SF
Building Class
C
Year Built
1970
Price
$170,438
Price Per SF
$391.81
Cap Rate
9.04%
NOI
$15,405
Tenancy
Single
Building Height
1 Story
Building FAR
0.74
Lot Size
0.01 AC
Frontage
15’ on Union Street
Amenities
- Energy Performance Rating - C
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Nearby Major Retailers
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1C Union St
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