Belvoir Commercial have been instructed to sell another substantial residential & commercial mix property on the High Street here in Andover. The upper floors have recently been converted into 4 residential flats. The freehold sale of the property consists of as follows:
2 x 2 Bedroom Flats
2 x 1 Bedroom Flats
1085 sq ft Commercial Retail Unit
The location of the property sits in what is considered the 'sweet spot' of the high street and is presently let on a 15 year lease which commenced 2018.
The property shares its location with big brands such as HSBC, Lloyds, TSB, Santander, Boots, Dorothy Perkins, Costa & Top Shop etc.
Rental Income: £25,000pa + vat
The entrance to the flats on the first and second floor are accessed via a communal residential side access from the side of the building.
The flats are all presently rented on AST agreements via this office and are achieving as follows:
Flat 1 (2 bed): £660pcm
Flat 2 (1 bed): £625pcm
Flat 3 (2 bed): £695pcm
Flat 4 (2 bed): £595pcm
Total annual residential lettings income: £30,900
Total Annual Income: £55,900pa
Yield: Approx 6.21%
If you are interested in this property, please contact this office for more information.
PLEASE NOTE: The property is VAT elected and therefore will need to be added to any final sale price
The Andover area is predicted to have a population in the region of 50,000 people (by 2020) and is scheduled to grow further over the next few years.
The town has become the home of the new administrative headquarters of the British Army?s Land Forces and the Co-operative Group?s new 43,484 m2 [467,891 ft2] distribution depot.
Many well known Companies are located in the Andover area including Agricultural Mortgage Corporation, Britax-Excelsior, Simplyhealth, Lloyds Banking Group, Londis, Office Depot, Petty Wood, Stannah Lifts and Twinings to name but a few.
There are good road links to: London, the M25 and Heathrow & Gatwick Airports by the A303 dual-carriageway and M3; the West Country again by the A303; the major South Coast Ports of Southampton and Portsmouth by the A34/M3; and, the Midlands and the North by the A34/M40.
Andover also has a mainline railway station on the London, Waterloo - Exeter line. London Waterloo in less than 1 hour
EPC rating: C.