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West St 2,500 SF 51% Leased Retail Building Fareham PO16 0EN $324,445 CAD ($129.78 CAD/SF) 7% Cap Rate

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Investment Highlights

  • Good Local Covenant.
  • Prominent Position.
  • Attractive Gross Yield of just over 7%.
  • Lease until 22nd September 2029.
  • Future Development Potential.

Executive Summary

The property is available to purchase the virtual freehold with the benefit of the current tenancy at a guide price of £175,000 exclusive. The virtual freehold is for 999 year Lease from 5th January 2011 comes with a Share in West Street PMC Ltd (the Freehold owning management company). The sale is subject to a 10 year lease from 23rd September 2019 at £12,000 pa with a tenant only break option and rent review at 5th year of the term, the lease is within the Landlord and Tenant Act 1954.
The property comprises a ground floor shop currently occupied by a local beautician business trading as The Lounge. The premises comprise a retail area, consulting rooms and rear circulation space, kitchen and rear lobby. The property also benefits from having 4 parking spaces towards the rear.
The property is located on the northern side of West Street, Fareham between Trinity Street to the east and Grove Road to the west. The property is surrounded by local occupiers and close by is Domino's Pizza, Helping Hands and a short distance from Aldi which is situated to the west. Fareham is situated off junction 11 of the M27 with Portsmouth approximately 10 miles to the east and Southampton approximately 20 miles to the west.

Property Facts

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
2,500 SF
Building Class
B
Year Built
1955
Price
$324,445 CAD
Price Per SF
$129.78 CAD
Cap Rate
7%
NOI
$22,711 CAD
Percent Leased
51%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.25
Lot Size
0.05 AC
Frontage
51’ on West Street

Amenities

  • Storage Space

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 187
  • 919 SF
  • Retail
  • In-Line
  • Now

Currently under refurbishment, this well-presented two storey unit presents an excellent opportunity for a new or existing business to rent a prime location in the heart of Fareham. Featuring a ground floor commercial space and first floor apartment, this versatile unit is suitable for a variety of uses.

Space Size Space Use Position Available
187 919 SF Retail In-Line Now

187

Size
919 SF
Space Use
Retail
Position
In-Line
Available
Now

187

Size 919 SF
Space Use Retail
Position In-Line
Available Now

Currently under refurbishment, this well-presented two storey unit presents an excellent opportunity for a new or existing business to rent a prime location in the heart of Fareham. Featuring a ground floor commercial space and first floor apartment, this versatile unit is suitable for a variety of uses.

Nearby Major Retailers

Costcutter
Morrisons
Snap Fitness
Costa Coffee
Caffe Nero
Nando's
Slug & Lettuce Company
Lounges
Iceland
Spar
  • Listing ID: 26004114

  • Date on Market: 2022-06-23

  • Last Updated:

  • Address: West St, Fareham PO16 0EN

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