Retail for sale

LOCATION
Shirley - Southampton

DESCRIPTION
Current Rental Income: £75,520pa

Current Gross Initial Yield (GIY): 9.5%
VAT: Not applicable
Accommodation: 1 retail unit, 1 two-bedroom flat and 5 studio apartments
Total Retail Accommodation: 45 sq m (484 sq ft)
Total Residential Accommodation: 152 sq m (1,636 sq ft)

The property occupies a prominent position directly opposite a bus station, providing convenient and direct transport links to Southampton City Centre.

The surrounding area is well established and benefits from a strong mix of national and local occupiers, including McDonald’s, Halifax, Lidl, The Gym Group, a pharmacy, barbers and a variety of restaurants and other local businesses.

Property Description

The property comprises a mid-terrace building arranged to provide a ground-floor retail unit together with six residential apartments.

The residential accommodation was newly developed and converted in 2022 to a high standard and provides a modern mix of studio and two-bedroom accommodation.

ACCOMMODATION
Ground Floor

Retail Shop – 45 sq m (484 sq ft)
Let to an individual t/a Nail Salon for a term of 15 years from 6th May 2026 at a current rent of £16,000 per annum and the lease contains full repairing and insuring covenants. Rent review every 5 years linked to RPI. Tenant option to determine in 5th year only with minimum 6 months notice. Deposit held of £4,000.

Rear Ground Floor

Studio 1 – 17 sq m (183 sq ft)
Double bedroom, fitted kitchen and bathroom.
At present let on APT to an individual at a current rent of £9,360 p.a. Deposit held of £780.

Studio 2 – 17 sq m (183 sq ft)
Double bedroom, fitted kitchen and bathroom.
At present let on APT to an individual at a current rent of £9,480 p.a. Deposit held of £800.

Studio 3 – 17 sq m (183 sq ft)
Double bedroom, fitted kitchen and bathroom.
At present let on APT to and individual at a current rent of £8,880 p.a. Deposit held of £853.

First Floor

Studio B – 26 sq m (280 sq ft)
Double bedroom, kitchen and bathroom.
At present let on APT to an individual at a current rent of £9,600 p.a. Deposit held of £800.

Studio C – 22 sq m (237 sq ft)
Double bedroom, kitchen and bathroom.
At present let on APT to an individual £8400 p.a. Deposit held of £700.

Second Floor

Flat A – 53 sq m (570 sq ft)
Two bedrooms, kitchen, living room and bathroom.
At present let on APT to an individual at a current rent of £13,800 p.a. Deposit held of £1,326.