Lot 54 Partially Occupied Mixed Freehold Investment OpportunityAuction Date:
8th February 2023

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) (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 an area 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.