Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 20

In same ownership for 23 years
6 Week Completion

Situation

Located in Hythe town centre on this pedestrianised retail thoroughfare amongst such multiples as Waitrose, McColls, Post Office, Superdrug, Lloyds Bank, Oxfam and Costa Coffee approx. 3 miles south of Southampton city centre.
Hythe is an attractive historic village lying on the western shore of Southampton water abutting the New Forest with regular passenger ferry services to Southampton.
Southampton is a busy commercial centre located on the south coast, well served by good transport links including the A27 which links to the M27 motorway.

Property

A mid terrace building comprising a Deep Ground Floor Shop with internal access to Ancillary Storage at first floor level.
In addition, the property benefits from use of a rear service area.

Accommodation

Ground Floor Shop
Gross Frontage 24'8”
Internal Width 23'6”
Shop Depth 70'4”
Area Approx. 1,640 sq ft
First Floor Store
Area Approx. 545 sq ft
WC
Total Area Approx. 2,185 sq ft

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to Boots UK Limited (having approx. 2,500 branches) (T/O for Y/E 31/8/17 £6.84bn, Pre-Tax Profit £498m and Shareholders' Funds £1.77bn) for a term of 10 years from 1st May 2017 (in occupation since 1994 - renewal of a previous lease) at a current rent of £30,500 per annum exclusive.

Rent Review and Tenant's Break 2022

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

21 High Street, Hythe, Southampton, Hampshire SO45 6AG