Lot 99: FREEHOLD COMMERCIAL & GROUND RENT INVESTMENT

Sold £150,000

This freehold town centre investment opportunity comprises a detached building with frontage onto West Street, the major commercial street in Fareham. The property comprises commercial accommodation on the ground floor which is currently let and in use as a pre-school, while on the first and second floors there are four flats which have all been sold on long leases from dates in 2010.

Commercial

Ground Floor

Nursery, kitchen, storage rooms, children’s W.C.’s and staff W.C.

Tenancy

Let under the terms of a 15 year lease from 30th November 2009 at a current rental of £12,500 per annum.

Residential

First Floor

207A

Sold on a 125 year lease from 26th August 2010 at a current ground rental of £150 per annum.

207B

Sold on a 125 year lease from 26th August 2010 at a current ground rental of £150 per annum.

Second Floor

207C

Sold on a 125 year lease from 27th August 2010 at a current ground rental of £150 per annum.

207D

Sold on a 125 year lease from 17th December 2010 at a current ground rental of £150 per annum.

Auctioneer's Note 1

Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the Leaseholders have not reserved their rights.

Auctioneer’s Note 2

At the time of publication the Auctioneer’s have been unable to inspect the property. The details have been provided by the Seller.

Commercial EPC: C