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    Key features

    • Investment Let at £98,000 pa (10.32% on Guide Price)
    • 15A High Street ground floor let to tenant trading as Subway on a 15 year lease renewal from 2023
    • Subway on a re-geared rent of £32,000 pa
    • 17 High Street let to Dominos on the ground floor at £28,500 pa expiring 2028
    • Upper floors let at £37,500 pa expiring 2025
    • Development/Change of Use potential on the first floor (subject to necessary consents)

    Description

    The property comprises a two/three storey building arranged as two ground floor shops/restaurants together with offices, separately let on the first and second floors.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note the approximate areas have been provided by the VOA /Vendor and the property has not been inspected by Savills.


    15A High Street

    Ground - 179.72 sq m (1,935 sq ft)

    First/Second - 167.22 sq m (1,800 sq ft)


    17 High Street

    Ground - 80.80 sq m (870 sq ft)


    Total - 427.74 sq m (4,605 sq ft)


    Tenancy

    Ground (15A) - Let to tenant trading as Subway on a renewed 15 year lease from April 2023 (in solicitors hands) at a rent of £32,000 pa. The lease will be completed imminently and before completion of the sale. There are tenant break options every 5 years.

    Ground (17) - Let to tenant trading as Domino's for 20 years from 11.01.2008 until 10.01.2028 at a rent of £28,500 pa (rent review outstanding from January 2023)

    First/Second - Let to a tenant trading as Bubbles Online Ltd on a 5 year lease from 08.01.2020 at a rent of £37,500 pa (rent review outstanding from 07.01.2023).



    Total Rent - £98,000 pa

    Planning

    Part of the property may benefit from change of use/development potential (subject to necessary consents). The vendor has drawn up plans for an additional storey above Dominos, please see the legal pack.


    Rent

    £98,000 pa

    Notes

    VAT is applicable to this lot.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located in the affluent and attractive town of Alton in Hampshire, approximately 48 miles south-west of London. The property is located on the south side of High Street, in a prominent position with nearby occupiers including Co-operative Food, Savers Health & Beauty, Papa John's Pizza and a number of independent shops, cafe's and restaurants.

      Transport

      Rail: Alton

      Roads: A31

      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