Test Lane, Southampton, Hampshire, SO16
- SIZE AVAILABLE
3,212 sq ft
298 sq m
- SECTOR
Light industrial facility for sale
Key features
- For Sale - Freehold Tenanted Investment
- Guide Price: £175,000
- Two storey semi-detached warehouse/storage unit
- 3,212 Sq. Ft. / 298 Sq. M. approximate GIA
- Currently let at £15,230 per annum, reflecting a GY of 8.7%
- 10-year occupational lease valid until May 2029
- Mutual break option every 20th April
- Grade II Listed building, originally dates from early 18th-century
- Located close to the Redbridge Flyover
- Half a mile from the M271, 2.5 miles from the M27
Description
The property is let to a private individual who has been in occupation since 2009 (lease to 2029) and uses the unit purely as a storage facility for theatre props and equipment.
We are advised that the building benefits from a capped gas supply, single-phase electricity, water and mains drainage.
The asset may appeal to both investors or owner-occupiers.
ACCOMMODATION
We have undertaken a measured survey which identified an approximate Gross Internal Area (GIA) of c. 3,212 Sq. Ft. / 298 Sq. M over two storeys, which are linked internally by a spiral staircase.
TENURE
We are instructed to only seek unconditional cash offers of £175,000 for the freehold interest in title number HP291311, subject to the existing occupational agreement and subject to contract. A sale at this level represents a gross yield of 8.7% and a very low capital value of £55 psf.
It is understood that vacant possession could be achieved as there is an annual mutual break option within the lease falling each 20th April, upon the serving of 6 months’ prior written notice. Lease copy available upon request.
EPC RATING
E (118) valid until 1st December 2033.
RATEABLE VALUE
According to the Valuation Office Agency (VOA) the rateable value of the unit, effective from 1st April 2023, is £13,500 suggesting rates payable of circa £4,000. For more information on business rates please contact the Local Authority.
LEGAL COSTS & VAT
Each party to bear their own legal costs in this transaction. The property is not VAT elected.
VIEWINGS
For all enquiries please contact the sole agent Trinity Rose Commercial on or email Jon Baud on j. or mobile .
The property is found at the southern end of Test Lane which links Nursling to Redbridge to the west of Southampton and runs parallel to the Southampton-Romsey railway line and tributaries of the River Test. It is almost directly below the Redbridge Flyover and conveniently situated just half a mile from the M271 and 2.5 miles from the M27 motorway, providing good access to the wider south coast road network and around 1 mile from Southampton Docks.
Brochures
Test Lane, Southampton, Hampshire, SO16
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Redbridge (Southampton) Station0.2 miles
- Totton Station0.5 miles
- Millbrook Station1.9 miles
About Trinity Rose Commercial, Winchester
Trinity House, 123 Winchester Road, Chandler's Ford, Hampshire, SO53 2DR
![Trinity Rose Commercial, Winchester](https://media.rightmove.co.uk/company/clogo_45041_0004.png)
Our Commercial Agency team has a wealth of experience in retail, offices, industrial, care and leisure sectors, providing independent advice to our commercial property clients, across Hampshire and Surrey.
The Commercial team at Trinity Rose Chartered Surveyors offers a suite of commercial property solutions that are tailored to suit your market sector and property type. From marketing property for sale and to let to conducting rent reviews for tenants and creating planned maintenance p
Notes
Disclaimer - Property reference COM230053. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Trinity Rose Commercial, Winchester. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.