125 High Street, Southampton

This attractive terraced building situated within Southampton City Centre currently consists of a commercial premises to ground floor and basement that we understand is currently let on a 6 year lease for £25,000 pa. We understand that the lease is on a full repairing and insuring basis and that there is a rent review on the 3rd anniversary. The lease commenced on 4/10/2012 and is let to a hairdressers. The upper floors consist of 7 self-contained flats that comprise of 3 x two bedroom units, 2 x one bedroom units and 2 x studio units. The local authority planning register indicates that planning was granted for the conversion of the above parts into these dwellings under Ref 971308/EL. The flats are presented mainly in good order throughout and all consist of electric heating and are separately metered in this regard. The building maintains a number of its original style features inclusive of an internal light well and will be of interest to investment purchasers. High Street is located within the city centre, a short stroll from the ferry terminal as well as all of the major shopping facilities and local travel connections. The upper parts also benefit from a security entry phone system and the property is being sold with the benefit of the lease to the commercial part and vacant possession of the uppers.

ACCOMMODATION

Shop premises occupying ground floor and basement: 2795 sq ft in total
Upper parts: communal areas and:
Flat 1 first floor rear comprising 2 bedrooms, living room, kitchen, bathroom
Flat 2 first floor front studio flat
Flat 3 first floor front comprising 1 bedroom accommodation (not inspected by the Auctioneers)
Flat 4 second floor rear comprising 2 bedrooms, living room, kitchen, bathroom
Flat 5 second floor front comprising 1 bedroom accommodation (not inspected by the Auctioneers)
Flat 6 second floor front studio flat - this flat does not some updating
Flat 7 split level second and third floor attic flat comprising 2 bedroom accommodation with living room, kitchen and bathroom and 2 small balconies overlooking the city centre and distant seafront

LOCAL AUTHORITY & TAX RATING

Southampton City Council
Commerical premises - Rateable Value: £22,000
Council Tax Band: all flats are rated A

TENURE

Freehold

VIEWING TIMES

7/2 & 14/2 - both at 10.30am

NOTES:

1. The special conditions of sale provide that the purchaser is to pay an additional sum of 1.25% + VAT of the purchase price towards the vendor’s expenses.
2. This lot will not be sold prior to auction.