31 The Square, Titchfield, , PO14 4RT

INVESTMENT | Retail and Residential Freehold INVESTMENT SUMMARY

• Titchfield is a popular and attractive village in Hampshire

• Central village location

• Two self-contained retail units and two bedroom flat

• Total NIA 1,786 sq ft

• Fully let freehold

• Total passing rental income £26,050 pa

• Rising to £27,400 pa in 2021

• Guide price £475,000 STC

• A purchase at this level would reflect an net initial yield of 6.3%on the commercial element, after usual purchasers costs of 6.8%

• No VAT

Rear Store

LOCATION AND SITUATION

The historic village of Titchfield is situated approximately three miles west of Fareham town centre. It is a popular and attractive traditional village of considerable character, which is largely a conservation area with many historic buildings, such as St Peters Church, one of the oldest Churches in .

Titchfield itself is well placed for commuting with Fareham train station providing regular services to London and the south coast. By car there is easy access to the A27 and M27.

The property is situated in the centre of the village where there are a number of independent shops, pubs, hotels and restaurants. Nearby occupiers include Co-op, Hays Travel and H.J. Everett Chemist.

Commercial demises DESCRIPTION The property comprises a Grade II Listed building over ground and first floors. Internally, the ground floor is configured as two self-contained retail units (No. 31 and No. 31a), together with a first floor two bedroom flat (No. 31b) above on, which is accessed via a central door.

Externally, to the rear of the property is a WC for No. 31a, a rear outbuilding, enclosed courtyard and grassed garden.

ACCOMMODATION AND TENANCY SCHEDULE

Unexpired Demise Tenant Deposit Size sq ft EPC Use Repair Start Expiry Rent pax ERV (Years)

Y1-3 £11,350 No. 31 Private £2,687.50 741 B (28) A1 4.25 EFRI 01/04/18 31/03/23 £12,100 Y4-5 £12,100 Y1 £5,700 No. 31a Private £2,850 194 C (73) A1 2.50 EFRI 18/07/18 17/07/21 Y2 £6,000 £6,300 Y3 £6,300

Rear Store n/a 126

No. 31b Private £950 725 D (68) AST 08/05/18 07/11/18 £9,000 £9,000

Total 1,786 £26,050 £27,400 PRICE We have been instructed to market the property and quote a price of £475,000 for the freehold interest, subject to the tenancies and contract.

A purchase at this level would reflect a net initial yield of 6.3% on the commercial element, after usual purchaser’s costs of 6.8% and a reversionary yield of 6.8% based on the stepped rent for the commercial element.

The above figures are based on a value of £220,000 for the residential element. TENURE Freehold.

There will be a restrictive covenant included on the title, restricting the use of the premise as a restaurant, drinking establishment or hot food takeaway. Further information available on request. VAT We understand that the property is not elected for VAT.

FURTHER INFORMATION Please contact the sole agents Flude Commercial incorporating Garner Wood:

Sebastian Martin Clive Garner [email protected] [email protected] 023 9262 9000 023 9262 9000

For identification purposes only Flude Commercial for themselves and for the vendors or lessors of this property whose agents they are give notice that: i) these particulars are set out in good faith and are believed to be correct but their accuracy cannot be guaranteed and they do not form any part of any contract; ii) no person in the employment of Flude Commercial has any authority to make or give any representation or warranty whatsoever in relation to this property.