You can bet on this investment property
A major retail and residential investment opportunity in Southampton has just become available.
Property consultancy Myddelton & Major has been instructed to market 65 London Road, a three-storey building comprising a retail unit and five flats.
Offers in excess of £350,000 are being invited for the freehold of the building.
The retail unit is let to Betfred and generates £34,000 per annum, plus there is £500 in annual ground rent income.
Myddelton & Major Partner Simon Lee said: “With a net initial yield of 9.5 per cent, I am expecting strong interest from investors seeking to add a mixed use property to their portfolio.
“This is a solid investment in an established retail and residential property in a city that continues to prosper.”
The property occupies a busy trading position fronting London Road, close to the junction with Carlton Crescent, approximately a quarter of a mile north of the prime West Quay Shopping Centre.
Other nearby occupiers including Brew House Pub, Starbucks, Rymans/Post Office, Coral and Tesco Express.
The premises comprise a mid-terraced three storey building, comprising a ground floor retail unit with full width glazed window display frontage and open plan sales area, with partitioned rear staff office and separate WC’s.
The first and second floors have a separate communal front entrance via London Road and comprise five separate residential flats.
Myddelton & Major was named the most active agency in Wiltshire in 2020 for the ninth year running by Estates Gazette, the weekly and online magazine of the UK commercial property industry.
Contact Myddelton & Major for more details of properties on 01722 337577 or visit www.myddeltonmajor.co.uk.