Westcliffe Buildings 55 Seaward Av 2,176 SF Retail Building New Milton BH25 7HN $2,789,869 CAD ($1,282.11 CAD/SF) 6.12% Cap Rate

Barton on Sea is an attractive cliff-top village in Hampshire, close (1 mile) to the town of New Milton to the north. Barton lies within the civil parish of New Milton. The subject property lies on the corner of Seaward Avenue and Sea Road. The latter road leading to Marine Drive to the south which offers panoramic views of the Solent and IOW. The immediate surrounding area is made up of detached residential housing and Barton Sea Methodist Church is located directly opposite the property.
Attractive Co-op Investment Opportunity Located In Barton on Sea The property comprises of a three storey ‘art deco’ brick building with rendered façade, mixed glazing and a flat roof. The ground floor has been sensitively amalgamated and adapted to provide full glazed fenestration and a recently fitted out Co-op (opening date 25.07.25). There is an internal stair case and lift shaft which lead to the self-contained first floor of the Co-op unit and the first floor has been segregated for the various back of house areas including inhouse bakery, office, staff room etc. Access to the residential accommodation is via a communal entrance on the elevation fronting Seaward Avenue. A stair case leads to a 1 bedroom flat (included within the sale), which comprises of lounge/kitchen, bedroom and bathroom. The staircase then leads to a further three flats, a corner 2 bedroom ensuite flat (included within the sale), with lounge and kitchen. The two other flats have not been inspected but comprise a 2 bedroom and 1 bedroom apartment (both of these have been sold off on a long leasehold interest). The flats have recently been refurbished to a decent specification.
Attractive Investment Opportunity Freehold Available Ground and part first let to The Co-op Group Food Ltd on a new 15 year lease One x 2 bedroom and One x 1 bedroom flat above also included Total net income of £97,400 per annum Offers in excess of £1,500,000 The front and side have been recently tarmacked and provide retail parking and a servicing solution for the retail unit. Access at the rear is also provided to the flat meters.
Freehold. The site has a lease to the Co-op Group Food Ltd at a rent of £72,500pa, 15-year term no breaks, 12 months at half rent, 5-yearly reviews to CPI collar at 1% cap at 3%. There are 4 flats, 2 have been sold-off on a long leasehold interest and 2 let (as described above) on Assured Shorthold Tenancy agreements at rentals of £15,000 pa and £9,900 pa. works and AST’s can be provided upon request.
We are seeking offers in the order of £1,500,000 for the Vendor’s freehold interest. The price reflects a net initial yield of 6.12% against the fully income producing asset.
From 1st September 2020 under the Town and Country Planning (Use Classes) Order 1987 (as amended) we understand the property benefits from Class E retail use on the ground and part first floor and then C3 residential on part first and second floors. We understand the property is not listed nor located in a Conservation Area.