COMMERCIAL PROPERTY AGENTS 35 Carlton Crescent Southampton Hampshire SO15 2EW Telephone: 023 8033 7033 Email: info@newtonscott.com Web: www.newtonscott.com RESIDENTIAL & COMMERCIAL INVESTMENT WITH DEVELOPMENT POTENTIAL Ground Floor Retail Front Elevation Typical Kitchen Rear Storage Buildings Typical Kitchen/Diner 27/9 PORTSMOUTH ROAD, WOOLSTON, SOUTHAMPTON, HAMPSHIRE SO19 9BA. Attractive income potential from five one bedroom flats, with possibility to increase by a further four, plus two retail units.
DESCRIPTION These two adjoining buildings each provide residential accommodation above retail space together with a small two storey storage building approached via a central courtyard. The premises have been managed by long term private investors who accept there is development potential and that both buildings would benefit from general refurbishment and upgrading. There are five flats on the two upper floors, each being of differing sizes whilst providing one bedroom accommodation. There are two retail units having the following approximate floor areas: 27: Front sales: 306 square feet, Rear stores: 280 square feet, plus ancillary areas. 29: Front sales: 366 square feet, Rear stores: 138 square feet, plus ancillary areas. Floor layout plans available on request. LOCATION These attractive period buildings are conveniently located close to the junction of Portsmouth Road with Victoria Road/Bridge Roads, in the heart of this busy and expanding suburb. The nearby 31 acre Centenary Quay project, on the former Vosper Thornycroft site, will provide an estimated 1,000 jobs, 1,620 new homes, a 100 bed hotel, a day nursery, library, restaurants, cafes, a supermarket all now underway which should help significantly by regenerating the riverside areas of Woolston, and thereby substantially assisting the local economy. The M.27 motorway (junctions 3 and 8) is within a ten minutes driving distance thus allowing easy access to all parts of the Solent region and further afield via the M3 and the national motorway network. Southampton International airport is just off junction 5 of the M.27, which provides both national and international flights. PLANNING We have been in discussion with Southampton City Council s planning department concerning redevelopment of the rear of these buildings and the outcome was favourable. However, we would stress that any intending purchaser should rely on their own enquiries. We concluded that there may be the possibility of converting the rear sections of both ground floor retail units to residential, together with the two rear storage buildings, thus creating a further four income sources. TERMS The present income for the five flats is about 1,915 per month. For the two shops the rent is 1,000 per month, with the tenants both paying their rates. Thus, the total income is in the region of 34,980 currently. With improvements and general upgrading of the flats both internally and to the common areas it is believed that a realistic increase in the rental income could be achieved. We also hold the view that on securing planning consent to convert the rear ground floor retail units and the two storage buildings as outlined above (planning) there will be a further opportunity to improve the income stream. Price: On application. BUSINESS RATES According to The Valuation Office (www.voa.gov.uk) the 2010 Rateable Value figures for the two ground floor retail units are as follows: 27 Portsmouth Road: 3,700, 29 Portsmouth Road: 4,400. The Council Tax applicable for the separate residential accommodation is Band A, or 964.56 for the year April 2012/13). VIEWING & FURTHER INFORMATION Strictly by appointment with the lessor s sole letting agents, Newton Scott, tel: 023 8033 7033. CODE OF PRACTICE FOR COMMERCIAL LEASES IN ENGLAND & WALES The landlord has regard to the recommendations of the voluntary code of practice for commercial leases in England & Wales. If you are professionally represented, you should ask your adviser for a copy. Alternatively, the document can be found at www.commercialleasecode.co.uk or obtained from the Royal Institution of Chartered Surveyors, telephone number 020 7334 3806. Misrepresentation Act 1967: Newton Scott Commercial Property Agents, for themselves and for the Vendor, Lessor or Landlord of this property for whom they act, give notice that: 1. These particulars have been produced in good faith and are a general outline only for the guidance of propective purchasers or lessees and do not constitut the whole or any part of an offer or contract. 2. Newton Scott Commercial Property Agents cannot guaranted the accuracy of any description, dimension, reference to condition or necessary permissions for the use and/or occupation and other details contained herein. Propective purchasers or lessees must not rely on them as statements of act or representations. 3. The reference to any plant, machinery, equipment, services fixtures or fittings at the property shall not constitute a representation, unless otherwise stated, as to its state or condition or that it is capable of fulfiling its intended function. Propective purchasers/tenants should satisfy themselves as to the accuracy, correctness and fitness of such items for their requirements by inspection or otherwise. 4. No person in the employment of Newton Scott Commercial Property Agents has any authority to make or give any representation or warranty whatever in relation to this property. Newton Scott Limited are not to be liable, in negligence or otherwise, for loss arising from the use of these particulars. Property Misdescriptions Act 1991: Newton Scott Commercial Property Agents has not tested any of the service installations, including heating, lighting and any occupier must satisfy themselves as to the state and condition of such items. Any occupier must check the stated planning use with the relevant Planning Office to ensure that is compatible for their intended use. All rents, prices, premiums and service charges may be subject to VAT in addition (unless otherwise stated).
EPCs Energy Performance certificates for five one bedroom flats
Plans 27 PortsmouthRoad 29 Portsmouth Rd Ground floor Flat 1, 29B Portsmouth Rd
Plans Flat 3, 27 Portsmouth Road Flat 29B Portsmouth Road Flats 1&2, 27 Portsmouth Road
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