Investment For Sale, Farnborough, Hampshire

Retail Investment Opportunity Comprising of 2 Retail Units Plus Ground Rent from Residential the Flat Above

The sale comprises the freehold interest of 42/42A Cove Road which consists of a ground floor hair salon to the front and a separate rear barbershop, both let on commercial lease terms. The property also benefits from a ground rent income generated by the residential flat above.

LOCATION

Cove Road is a busy vehicle route connecting Cove Village with Farnborough Town Centre, within the locality there is a mix of commercial premises (mainly retail), and residential flats/houses.

FOR SALE The freehold interest is For Sale. Offers invited in the region of £230,000. We understand from our client that the property is not registered for VAT.

ACCOMMODATION (Taken from the valuation office website)

Front Shop 395 ft² 36.72 m²

Rear Shop 228 ft² 21.20 m²

LEASES & GROUND RENTS

Ground Floor - Hairdresser held under lease until 29 April 2027 at £13,500 pax.

Ground Floor Rear - the lease is currently being renewed at a rent of £5,000 pax.

First Floor Residential Flat - held under 125 year lease from 01 January 2007 at a ground rent of £150 per annum ground rent. Total Rent Income of £18,650 pax.

BUILDINGS INSURANCE

To be confirmed.

BUSINESS RATES A rateable value of £7,200 – Please note that the business rates are paid by the tenants in occupation.

ENERGY PERFORMANCE CERTIFICATE (EPC)

C-52