Situated in the very heart of Winchester City Centre opposite the Law Courts and a short distance from the railway station, this freehold investment comprises four commercial units which are all let at a rental of £108,500 per annum.
The residue of the income is made up from the ground rent received in respect of the seven residential flats known as St. Pauls Court which have been sold on a long leasehold basis.
Both the residential and commercial leases provide for the freeholder to arrange the insurance, maintenance and management of the building, recovering the costs from the leaseholders by way of a service charge.
Let to John King Ltd (Mailboxes) under the terms of a commercial lease for a term of 10 years, expiring on 24th December 2021, at a current rental of £27,500 per annum.
Let to Anokhi Winchester Ltd under the terms of a commercial lease for a term of five years, expiring on 24th December 2021, at a current rental of £23,500 per annum.
Let to Timber Windows (Southern) Ltd under the terms of a commercial lease for a term of 10 years, expiring on 20th January 2027, at a current rental of £30,000 per annum.
Let to Brides of Winchester Ltd under the terms of a commercial lease for a term of 15 years, expiring on 30th January 2028, at a current rental of £27,500 per annum.
Flats 1-7 St Pauls Court (Winchester) Ltd
The flats can be accessed from the front and rear of the building.
Each flat is let under the terms of a 125 year lease (less three days) from 24th June 1987 at a current ground rental of £100 per annum, per flat.
Section 5B Notices under the Landlord and Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.
The map and satellite images are based on postcode information and are available for for directions only. The may not necessarily show the exact lot being offered, but will be in close proximity. Please refer to the sale plan in the legal documentation for precise details of the lot to be sold.