Property Details

St Mary Street is a mixed tertiary retail, commercial and residential area within Southampton city centre. The property is in a prominent location on a busy market square which provides a pedestrian route from St Mary Street through Hoglands Park to Southampton City Centre and West Quay Shopping Centre.

A Semi-detached 2 And 3 Storey Property. The Ground Floor Is A Retail Shop Used As A Bakery/ Coffee Shop, There Is Rear Kitchen Space For Preparation, Baking And First Floor Office And Storage Space. There Is A Secondary Entrance To The Kitchen And First Floor From Ascupart Road. There Has Been A Bakery At 120 St Mary Street For 135 Years. The Current Bakery Tenant Has A Lease Of 10 Years From 2016, With A Passing Rent Of £23,000. The Property Has 2 Occupied Studio Flats And The Residential Upper Floors Have Been Partially Converted Into Two Self Contained 1 Bedroom Flats With A Separate Access At The Side Of The Building From Ascupart Road. As Per The Planning Permission, One Of The Studio Flats Will Be Incorporated Into The 1 Bedroom Flat. Therefore, Upon Completion Of Works There Will Be 2 X 1 Bedroom Flats And 1 X Studio Flat. The Current Rental Income For The Flats Is £12,600 Per Annum. The Flats Have Gas Central Heating, And Upvc Double Glazing. Planning Has Been Granted For The Additional Flats And Can Be Found Under Reference No 22/01026/ful. The Anticipated Rental Income For The Flats When Works Are Complete Is Approximately £25,800 Per Annum.