Lot 106 Partially Occupied Mixed Freehold Investment OpportunityAuction Date:
14th December 2022
Cosmopolitan House, 3 Delta Business Park, Salterns Lane, Fareham, Hampshire, PO16 0QS
Currently partially let at £19,100 per annum
This detached building is situated to the south of Fareham town centre just off of the A32 and close to Fareham Creek.
Approximately one-third of the building (on the right hand end as shown in our main photograph) is let to two commercial tenants and one residential tenant, who are occupying under terms of commercial leases and an Assured Shorthold Tenancy respectively. The residential unit is a two-bedroom flat. The majority of the building is at present vacant, having last been in use, some time ago, as a children’s nursery and this section of the building requires significant upgrading and refurbishment.
The building sits on a plot of 0.12 hectares (0.30 acres) with scope for partial or, perhaps, full site re-development, subject to all necessary consents being obtainable.
Local Planning Authority
Fareham Borough Council. Tel: 01329 236100. Website: fareham.gov.uk.
Unit 1 - Right Hand Side
Ground Floor
Store room to the front and large open plan office/work space to the rear, small kitchen and staff cloakroom with W.C.
Tenancy
Let under the terms of a commercial lease from 1st October 2022 to 30th September 2023, at a current rental of £1,000 per calendar month.
Unit B3
First Floor Rear (Right Hand Side)
Reception area, open plan office space and staff cloakroom with W.C.
Tenancy
Let under the terms of a commercial lease from 1st January 2018 to 31st January 2024, at a current rental of £541.66 per calendar month (£6,500 per annum).
First Floor Front - Right Hand Side
Flat
Living room/kitchen, inner hallway, two bedrooms both with en-suite shower rooms with W.C.s.
Tenancy
Let under the terms of an Assured Shorthold Tenancy Agreement, from 10th October 2022 to 10th October 2023 at a current rental of £50 per calendar month.
Council Tax Band B
Ground & First Floors - Left Hand Side (Vacant)
Currently vacant. Previously a children’s nursery with a range of classrooms, meeting rooms, staff facilities and cloakrooms on the ground and first floors.
Outside
We are advised that outside to the rear of the building was let to the former nursery and previously provided a children's play area. To the front of the building there is a mix of car parking spaces and a further smaller garden/play area.
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
