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Floorplan
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    Key features

    • To be offered on Wednesday 22 April
    • Let to The Southern Co-operative Limited (convenience store operator)
    • Term certain to December 2031 with no tenant break options.
    • 15 year FR&I lease from 2016
    • Double fronted convenience store
    • Two self-contained three-bedroom maisonettes arranged over first and second floors.
    • Ground floor shop an approx. 3,260 sq ft , Flat 32E an approx. 984 sq ft & Flat 32D an approx. 965 sq ft (Total = 5,209 sq ft)
    • Prominent town centre position and established trading location with nearby national occupiers including Boots, Costa, NatWest and Domino’s
    • Asset management and break-up potential (subject to consents)
    • 8 week completion available
    • Investment let at £75,000 p.a. (9.68% GIY on guide)

    Description

    Click here for virtual tour Flat 32D

    Click here for virtual tour Flat 32E

    A prominent town centre mixed-use freehold investment comprising a double fronted convenience store let to The Southern Co-operative Limited (ground floor units known as 34D & 34E) together with two self-contained three-bedroom maisonettes above (known as 32D & 32E) arranged over the first and second floors.

    The property is fully let on co-terminus leases with an overriding lease structure across the entire building, producing a total income of £75,000 per annum. The lease is for a term of 15 years from 2016 expiring December 2031, with no tenant break options.

    The commercial unit benefits from both front and rear access, whilst the residential accommodation can also be accessed from the front (street access) and rear.

    The configuration of the property offers future asset management potential, including the ability to separate the residential accommodation and enhance income (subject to necessary consents). 

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground Floor (Commercial): approx. 3,260 sq ft

    Flat 34E: approx. 984 sq ft

    Flat 34D: approx. 965 sq ft

    Total: approx. 5,209 sq ft


    Please refer to the floor plan

    Tenancy

    34D & 34E High Street

    • Let to The Southern Co-operative Limited t/a Co-operative Food
    • 15 year FR&I lease from 2016
    • Expiry December 2031
    • No tenant break options
    • Co-terminus leases across both properties
    • Overriding lease across entire building including residential accommodation
    • Investment let at £75,000 p.a.

    Rent

    £75,000

    Notes

    Please note the site areas provided are approximate. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.

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

      Local information

      The property is located on the North side of the High Street, close to the junction with Bakers Ally.

      Alton Station an approx. 0.5 miles from the property.

      Transport

      Alton Station - National rail services

      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