1 March 2023: Wednesday 01 March 2023 - 9:00am
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    Key features

    • Freehold Retail Investment with Development/Change of Use Opportunity on Upper Parts
    • Ground and basement floor currently let at £23,594 pa
    • Change of Use/Development Potential (subject to consents)
    • Self contained first, second and third floors currently vacant with separate access
    • Third floor comprises a two bedroom flat & roof terrace
    • Active asset management opportunities to increase value

    Description

    The property, which is an attractive Grade II Listed 4 storey period building, comprises a ground and basement floor shop with vacant upper parts on the first, second and third floors. The third floor comprises a two bedroom flat together with roof terrace which was previously let at £1,000pcm. The first and second floors may also benefit from conversion to residential (subject to necessary consents). The upper parts are accessed via a separate entrance from High Street. The property benefits from a rear building (within the commercial tenant's lease demise) and parking spaces at the rear.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note the approximate floor areas have been taken from the VOA and the property has not been inspected by Savills.


    Ground - 167.80 sq m (1,806 sq ft)

    Basement - 48.10 sq m (518 sq ft)

    First - 72.00 sq m (775 sq ft)

    First (Mezzanine) - 18.20 sq m (196 sq ft)

    Second - 59.90 sq m (645 sq ft)

    Third - 96.00 sq m (1,033 sq ft)


    Total - 462.00 sq m (4,973 sq ft)


    Tenancy

    Ground & Basement - Let to Oxfam for 10 years from 30.04.2005 (holding over) at £23,250 pa. The landlord is in discussions with the tenant regarding a lease renewal.

    First/Second/Third - Vacant Possession.

    Car Parking - Oxfam pay an additional £344 pa for the use of two car parking spaces.


    Total - £23,594 pa (+ vacant upper parts)


    Planning

    The upper parts may be suitable for conversion to residential use, subject to the necessary consents. For further information and enquiries please contact New Forest National Park Council (www.newforestnpa.gov.uk).


    Rent

    £23,594 pa (plus vacant uppers)
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      Local information

      Lymington is an affluent and highly attractive south coast town in the New Forest National Park approximately 16 miles East of Bournemouth. The property is situated in a prominent location on the north side of High Street, with nearby occupiers including Prezzo, M&S, Millets, Seasalt, Boots, Waterstones and Tesco Express.

      Transport

      Train: Lymington Town

      Roads: A337, M27, M3

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums