High Street, Lymington, Hampshire, SO41

THE PROPERTY:

An excellent opportunity to purchase this Grade II listed building situated in a first class trading location in this popular coastal market town with branches of W H Smith, Boots, Café Nero and Greggs in close proximity and facing branches of Superdrug, Waterstones, Tesco Metro and The White Stuff.


The ground floor shop and basement storage area was originally let on a repairing and insuring Lease subject to a Schedule of Condition for 10 years from 25th December 2004 and subsequently renewed for a further 10 years from December 2014, expiring 24th December 2024, to Marie Curie with a Tenant's break clause effective from the 24th December 2019. The rent for the first two years on renewal was £25,500 p.a. ex. increasing from 25th December 2016 to £26,220 p.a. ex. until the 24th December 2019 when there should have been a rent review for the remaining 5 years of the term which has not been implemented.


The shop has a frontage of 11'8" approx, a shop depth of some 35', a further depth of approx. 46', beyond which is a kitchen, separate bathroom and two small rest rooms. The total depth from the front of the property to the rear is in excess of 85' and the total site depth is approximately 150'. In the rear yard there is a brick shed owned by the adjacent shop which has rights over our Client's land to access it.


The residential accommodation 31a High Street is approached along the Solent Mews Alleyway off the High Street with its own separate entrance on the ground floor leading to a first floor with a living room with bay windows to the High Street and an open plan kitchen area and a separate bathroom with bath, shower cubicle, w.c. and wash hand basin. A spiral staircase gives access to two double bedrooms on the second floor with far reaching views towards the Harbour from the rear bedroom. There is a gas fired central heating system.


The maisonette is currently vacant.

Marie Curie is the U.K.'s largest charitable funder of Palliative and End of Life Care research with some 2000 nurses caring for people diagnosed with terminal illnesses. They have nine Hospices in the U.K. and some 180 shops fund raising with an annual income of almost £135 million to March 2018.

RATEABLE VALUE:

Our enquiries with the Local Rating Authority indicate the property has a rateable value of £24000, rates payable of 49.9p in the £1 being £11,976 for the year 2020/21.

We are advised that the maisonette falls within Band A amounting to £1,224 for the year 2020/21.

EPC:

The Energy Performance Asset Rating for the shop unit is D.

The Energy Efficient Rating for the maisonette is Band E.

Copies of both Reports are available upon request


LEGAL COSTS:

Each party to bear its own legal costs when dealing with this transaction.