Description
The property comprises two self-contained commercial units, currently occupied as Spencer’s estate agency offices and Capaccio’s sweet shop
The Spencer’s accommodation is particularly well presented and has been fitted out to an excellent standard, combining contemporary office accommodation with the character of the original building.
The ground floor provides predominantly open-plan customer-facing office accommodation with an attractive and highly prominent glazed frontage. The accommodation benefits from recessed lighting, modern flooring, built-in storage, wall-mounted electric heating and network/data provision.
At first-floor level is an additional office/meeting room with substantial storage and a dedicated data/network cupboard. To the rear are kitchenette and WC facilities together with rear pedestrian access.
The sweet shop provides a characterful and predominantly open-plan retail sales area of irregular configuration, together with a rear sink and separate WC.
INVESTMENT CONSIDERATIONS
The property is available to purchase freehold subject to and with the benefit of the below leases:
Office Tenant – Spencers Of The New Forest Limited
Passing rent: £20,000 per annum – Lease of nine years from March 2021 – rent reviews every third anniversary
Retail Tenant – Julie Carlo
Passing rent: £7,200 per annum – Lease of six years from March 2021 and now entering in to a further three year lease until March 2030 at a new rent of £7,800 per annum
Total Current Income: £27,200 per annum
PRICE
£450,000 offering a Gross Initial Yield of 6.18% We understand that the property is not elected for VAT
LOCATION
The property occupies an exceptionally prominent position in the heart of Burley, one of the New Forest’s
best-known and most attractive villages. Burley benefits from a strong local catchment together with substantial
visitor and tourist trade throughout the year. The property occupies a central trading position within the
village, surrounded by a variety of independent shops, cafés and other commercial occupiers.
PLANNING
We understand that the property benefits from Class E (Commercial, Business and Service) use.
In accordance with our usual practice, however, all interested parties are encouraged to contact New Forest National Park Authority planning department, with respect to the authorised use of the property and their proposed use.
EPC
Recently assessed as C
BUSINESS RATES
Carpaccio’s – Rateable Value £ 7,500
Spencers – Rateable Value £13,000
Interested parties are advised to obtain confirmation of the rateable value and rates payable from the local authority.
For more information, visit:
FINANCE ACT 1989
Unless otherwise stated, all prices and rents are exclusive of Value Added Tax. Purchasers must satisfy themselves as to the incidence of VAT in respect of any transaction.
MONEY LAUNDERING REGULATIONS
Under Money Laundering Regulations, we are obliged to verify the identity of a proposed tenant/buyer prior to instructing solicitors. This is to help combat fraud and money laundering, and the requirements are contained in statute.
IMPORTANT NOTE
At no time has a structural survey been undertaken, and appliances have not been tested.
These particulars are believed to be correct, but their accuracy is not guaranteed,
and they do not constitute an offer or form part of any contract.
Property Documents
