Investment For Sale, Southampton

Shirley is a busy secondary retail location in Southampton and Shirley High Street is the main retail thoroughfare. Southampton city centre is within 1.5 miles and Southampton central railway station is within 1 mile. The property is located a the top end of Shirley High Street opposite Sainsburys and next to Iceland. Other surrounding occupiers include Holland and Barrett, Costa Coffee, Greggs and Superdrug.

An Excellent Opportunity To Acquire A Well Located Mixed-use Investment Comprising A Ground Floor Retail Unit Let To A Highly Established Tenant, Alongside A First Floor Residential Development Opportunity With Significant Value-add Potential.

The Ground Floor Is Let To Landmark Entertainments Ltd, Trading As Richmond Leisure, A Long-standing Adult Gaming Centre Operator Who Have Traded From The Premises For Over 35 Years. The Tenant Will Enter Into A New 15-year Fri Lease (tenant Break At Year 10) At An Initial Rent Of £27,000 Per Annum, With 5-yearly Upward Only Rent Reviews. A Rent Deposit Will Be Provided, And Strong Full Company Accounts Are Available Upon Request.

The First Floor Is Currently Arranged As A Spacious 2-bedroom Flat To The Front And Office Accommodation To The Rear. A Planning Process Initiated In 2019 Proposed Reconfiguration Of The Upper Parts To Create 2 X 1-bedroom Flats And 2 X Studio Flats. Architect's Plans And Historic Planning Documents Are Available Upon Request. Once Developed, The Flats Are Anticipated To Generate A Rental Income In Excess Of £36,500 Per Annum.

Subject-to-planning Offers Will Be Considered.