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Industrial Unit

Industrial Unit For Sale Southampton

PROPERTY ID: 89767

PROPERTY TYPE

Industrial Unit

STATUS

Under Offer

SIZE

4,326 sq.ft

Key Features

Gross Income £35,700 per annum with potential to increase
New 5 year lease to long established Blackfield Garage
1 x 2 bed & 2 x 1 bed flats
Reversionary Yield 8.39% when flat 1 is let.

Property Details

The property is located on the edge of the New Forest in the centre of Blackfield village, approximately 15 miles south of Southampton via the A326. Fawley village is approximately 1 mile and Hythe approximately 5 miles.

Freehold Industrial/residential Investment Property Producing £35,700 Per Annum. A Semi-detached 2 Storey Property. The Ground Floor Is A Motor Vehicle Workshop And Mot Garage With Forecourt Parking Leased To The Same Tenant For Many Years Https://www.blackfieldgarage.co.uk/. It Benefits From A Large Pit For Mot Works, Mot Licence, 3 Phase Electric, Gas Hot Air Blowers And Led Strip Lights. The Garage Is Let On A 5 Year Full Repairing And Insuring Lease From 13th December 2023 To Peter Charles Cousins At A Rent Of £24,000 Per Annum Exclusive. There Is A Rent Review At The End Of Year 3. The Upper Floors Have Been Converted Into 3 Self Contained Flats With A Separate Access At The Side Of The Building. All The Flats Have Gas Central Heating, Upvc Double Glazing And Velux Windows In The Bedrooms. Flat 1 Is Vacant And It Is Understood This Could Be Let At A Rent Of £650 Pcm. Flat 1a Has Been Let To The Same Tenant Since May 2018 At £475 Pcm Rising To £495 Pcm In January 2024 Flat 2 Has Been Let To The Same Tenant Since August 2019 At £525 Pcm. Total Rental Income £36,000 Per Annum. Future Potential Income When Flat 1 Is Let And The Rent On Flat 1a Is Increased Is £43,800.

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About the Agent

Keygrove Chartered Surveyors

See Agent's Other Properties

Industrial Unit

£525,000 Freehold

150 Hampton Lane, Southampton, SO45 1WE
Industrial Unit - Under Offer
4,326 sq ft
402 sqm
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