An ideal investment property comprising of 5 prominent retail units which can be bought through a company purchase. The majority of the units are let to a well known established local business. There is opportunity is to increase the total rental income from the remaining 2 vacant retail units, to a Gross income approx. £55,000 pa. The parade also benefits from the parking area directly in front of the retail units.
The property is situated in a prominent location at the Five Oaks roundabout and directly opposite Morrisons supermarket, petrol station, Wine Warehouse, Five Oaks Pub and close to the Normans building centre.
The property forms 5 no. self-contained lock up retail units on the ground floor of an “L” shaped detached three storey building with two floors of residential flats above (which do not form part of this sale), the main building is assumed to be of concrete frame structure, with each of the retail units to be in general regular shape.
Access to the 5 no. shops is from the front elevation with each having their own entrance door. The general standard specification is summarised as follows;
Combination of solid and suspended ceilings.
Combination of strip lighting, Cat 2 lighting and recessed spot lighting.
Unit 1-3 have a combination of ceiling mounted and wall mounted heating/cooling cassettes.
Exit door to rear of Units 1 – 3.
Common car parking within the service road.
We have measured various elements of the interior of the property to the definition relating to the Net Internal Area with the latest edition of the RICS Code of Measuring Practice (6th Edition).
Shop No 1 (Florida Pools) 337sqft 31.31 sqm
Shop No 2 (Florida Pools) 370sqft 34.38 sqm
Shop No 3 (Florida Pools) 360sqft 33.48 sqm
Shop No 4 (Formerly occupied by Floralies) 379sqft 35.22 sqm
Shop No 5 (Formerly occupied by Wash'N'Shop) 321sqft 29.9 sqm
TOTAL 1,768sqft 164.29sqm
Shops 1,2,3 are all let to Florida Pools on a lease, subject to annual JRPI index rent reviews, with rent £29,000pa and the lease extends to 31/1/2025.
The opportunity exists to acquire the holding company, to be sold as a going concern, of St Saviour Investments Limited, Shops 1 - 5 Five Oaks Parade, Five Oaks,
St Saviour, for a consideration of £685,000 exclusive of GST as applicable.
Each party to bear their own legal costs and any other cost incurred in the sale of this property.
Strictly by appointment with the Vendor’s sole agent.
Erica Jones M.N.A.E.A
T. +44 (0)1534 880770
M. +44 (0)7797 712094
Broadlands Estates Limited for themselves and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that: 1. These particulars do not constitute, nor constitute any part of, an offer or contract. 2. None of the statements contained in these contained in these particulars as to the property are to be relied on as statements or representations of fact. 3. Any intending purchaser or lessee must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in these particulars. 4. The vendor(s) or lessor(s) do not make or give and neither Broadlands Estates Limited nor any person in their employment has any authority to make or give, any representation or warranty whatever in relation to this property. Unless otherwise stated all prices and rents are quoted exclusive of GST. These details are believed to be correct at the time of compilation but may be subject to subsequent amendment.
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