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Floorplan
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    Key features

    • Freehold convenience store investment with self-contained two-bedroom flat amounting to an approx. 4,573 sq ft
    • Ground floor let to Co-op with a new reversionary lease agreed, extending the term from 2027 to 2033
    • The commercial unit is let on a FR&I lease and has an outstanding rent review yet to be implemented
    • Flat at first floor is let under a company lease and is currently holding over
    • Immediate asset management potential across both elements to improve the passing rent
    • ERV once rent reviews and new rents agreed circa £57,000 p.a. (subject to the negotiations)
    • Development/ reconfiguration potential to convert the flat into a HMO or sell off separately
    • VAT free investment
    • Investment let at £40,600 p.a. (9.02% GIY on guide price & 12.66% GIY on potential ERV)

    Description

    The property comprises of a freehold mid terrace convenience store with a substantial self-contained two-bedroom flat above, arranged over a total floor area of approximately 424 sq m (4,573 sq ft).

    The ground floor provides the convenience store accommodation, with the residential 2 bedroom flat above extending to approx.977 sq ft and benefiting from independent access to the rear.

    The property offers instant asset management potential to improve the passing rent both my implementing the outstanding rent review (2025, time is not of essence) and re - negotiating the lease for the 1st floor flat.

    The first floor flat is let out on a company lease structure and has been on a tenancy since 2007, the current tenant is holding over.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please refer to the floor plan

    Tenancy

    62 Brookley Road (Commercial unit)

    • Let to W.J.&R. Dance Ltd trading as Co-op
    • New reversionary lease agreed to Co Operative Franchising Ltd from Feb 2027 to March 2033
    • Outstanding rent review from 2025, time is not of essence
    • Rent review in March 2030
    • Co Operative Franchising is owned by Southern Co-op, which is moving under the Co-op Group (subject to CMA approval)
    • Investment let at £31,000 p.a.


    62A Brookley Road (Residential unit)

    • Let to Green Close Ltd 
    • Let on a rolling tenancy from 2007 currently holding over
    • As this is a company lease it is not subject to the renter right act 2025 there is potential to increase the passing rent straight away (subject to negotiation)
    • Let on a low rent of £9,600 p.a.

    Total rent = £40,600 p.a.

    Rent

    £40,600 p.a.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

    * Please note this is an Estimated Rental Value, any incoming purchaser needs to do there own due diligence.

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      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

      Brokenhurst is a vibrant and beautiful New Forest village where ponies, donkeys and cows walk down the high street which is filled with eateries, butchers, grocers, an award winning bakery and independent shops. The countryside around the village is spectacular and the train station provides links to London Waterloo with the fast train taking approx. 1hr 30. There is a C of E Primary school with Good Ofsted rating and a tertiary college. The village has successful football, cricket and bowls clubs, three public houses and several luxury hotels, some with gyms.

      Transport

      The property is conveniently located for Brockenhurst railway station an approx. 0.3 miles, which provides direct services to London Waterloo, Southampton, Bournemouth and Lymington, together with wider connections across the South Coast.

      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.

      •Some properties might be open to offers prior to auction. Exchange will take place, subject to contract and no higher offers, on auction terms and as per the legal pack. Please contact the auctioneer with your best and final offer, their details can be found on each lot page.

      •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.

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