Close cookie policy popup window
This site uses cookies for analysis purposes only. This helps us understand how you and other visitors use our site. To see a complete list of these cookies or to opt out please access our cookie policy page.

You will see this message only once, but you will be able to find more information about our use of cookies or opt out at any time.

FOR SALE

31 The Square,
Titchfield,
Fareham,
Hampshire,
PO14 4RT

Retail and Leisure, Investment

0 Sq Ft

Features

  • Titchfield is a popular and attractive village in Hampshire
  • Central village location
  • Two self-contained retail units and two bedroom flat
  • Total NIA 1,786 sq ft
  • Fully let freehold
  • Total passing rental income £26,050 pa
  • Rising to £27,400 pa in 2021
  • Guide price £475,000 STC
  • A purchase at this level would reflect an net initial yield of 6.3% on the commercial element, after usual purchasers costs of 6.8%
  • No VAT

Location

The historic village of Titchfield is situated approximately three miles west of Fareham town centre. It is a popular and attractive traditional village of considerable character, which is largely a conservation area with many historic buildings, such as St Peters Church, one of the oldest Churches in England.

Titchfield itself is well placed for commuting with Fareham train station providing regular services to London and the south coast. By car there is easy access to the A27 and M27.

The property is situated in the centre of the village where there are a number of independent shops, pubs, hotels and restaurants. Nearby occupiers include Co-op, Hays Travel and H.J. Everett Chemist.

Description

Investment - Retail and Residential Freehold

Accommodation

The property comprises a Grade II Listed building over ground and first floors.
Internally, the ground floor is configured as two self-contained retail units
(No. 31 and No. 31a), together with a first floor two bedroom flat (No. 31b)
above on, which is accessed via a central door.

Externally, to the rear of the property is a WC for No. 31a, a rear outbuilding, enclosed courtyard and grassed garden.

Planning

Interested parties are advised to make their own enquiries to satisfy themselves in respect of planning issues.
There will be a restrictive covenant included on the title, restricting the use of the premise as a restaurant, drinking establishment or hot food takeaway. Further information available on request.

VAT

We understand that the property is not elected for VAT.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

We have been instructed to market the property and quote a price of £475,000
for the freehold interest, subject to the tenancies and contract.

A purchase at this level would reflect a net initial yield of 6.3% on the commercial
element, after usual purchaser's costs of 6.8% and a reversionary yield of 6.8%
based on the stepped rent for the commercial element.

The above figures are based on a value of £220,000 for the residential element.

Energy Performance Rating

We understand the property to have the following EPC ratings:

#31 B (28)
#31a C (73)
#31b D (68)

Viewing

For further information or to arrange a viewing, please contact Flude Commercial incorporating Garner Wood on 02392 629000 or via email to portsmouth@flude.com.

Key Contacts

Contact Photo

Sebastian Martin

023 9262 9007