32 High Street, Botley, Southampton, Hampshire, SO30 2EA

Description

The village of Botley is located approximately 7 miles north of Southampton via A334 which is about 2 miles off J7 of the M27.

Nearby occupiers include The Nail Rooms, Botley Dental Care, The Co-op, Post Office and many more.

The subject property comprises of a ground floor commerical unit and first floor residential flat. The commercial unit has a kitchenette and W/C to the rear. The property also benefits from large glass frontage and parking to the rear.

Accommodation

Ground floor commercial - 493 sq.ft (45.80 sq.m)
First floor residential - 544 sq.ft - 1 bedroom

Planning

Under the new planning regulations, we believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, café, health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.

EPC Text

Asset Rating - commercial - C (57)
Residential - C

Rating

Rateable Value £10,000
Source The 2024/2025 small business multiplier is 0.499 (49.9p payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. *If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.

Terms

Offers invited in the region of £375,000 for the freehold interest subject to contract and subject to the existing tenancies.

A purchase at this level shows a Net Initial Yield of 4.9% after allowing usual buyers costs.

Lease Terms

The ground floor is let by way of a lease dated 13th July 2022 for a term of 16 years at a passing rent of £13,000 per annum, expiring July 2040.

The tenant is 'Medicare Aesthetics'.

The lease is subject to an open market upward only rent review in July 2026, 2030, 2034 & 2038. The lease is drawn on full repairing & insuring terms.

The residential tenant on the first floor is now holding over on an expired tenancy agreement, subject to a months' notice being given.