£1,250,000

Property for sale

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Freehold

£1,250,000

(£396.45/sq. ft)

Property for sale

Upper High Street, Winchester, Hampshire SO23

3,153 sq. ft

Local area information

Property location

Nearby amenities

  • Winchester 0.2 miles
  • St Bede Church of England Primary School 0.4 miles
  • Osborne School (SEN) 0.4 miles
  • Shawford 3 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Read our area guide for Winchester to find out more about the local area.

Features and description

  • Freehold
  • For Sale – fully-let mixed-use commercial and residential investment sale
  • Rare Winchester Freehold Opportunity
  • Well-established, popular restaurant plus 4 residential units
  • Building size of approximately 3,153 sq ft
  • Guide Price – offers in the region of £1.25m
  • Total rental income - £77,580 pa
  • Gross Yield - 6.2%
  • Capital Value - £396 psf
  • Commercial lease to 2031 with no breaks
  • Tanoshii Fusion restaurant, rated 4.5* online in customer reviews
We are pleased to have been instructed to market this freehold investment, comprising a period, mid-terrace property housing a well-established and well-rated Asian fusion restaurant along with 4 residential units above, the total of which is presently generating rental income of £77,580 per annum. The commercial lease runs until 2031 with no breaks, and has a rent deposit plus a personal guarantee, while the apartments have been successfully rented out for many years on 12-month AST’s. An opportunity may exist to renovate the residential dwellings and re-gear the rental levels accordingly.
Accommodation

We have identified an approximate cumulative internal area of 3,153 sq ft, as follows:

Ground floor and basement restaurant: 1,604 sq ft
Upper floors: Flat 1: 247 sq ft, Flat 2: 366 sq ft, Flat 3: 506 sq ft, Flat 4: 430 sq ft
Tenure

We are instructed to seek offers in the region of £1.25m, subject to contract for this mixed-use freehold investment, to include the subsisting occupational leases. For reference purposes the freehold title number is HP670339 and all four apartments are held on individual 199-year leases. A purchase at this level would reflect a gross yield of 6.2% and a capital value of £396 psf before standard purchaser’s costs.

Existing income summary: Restaurant: £29,400 pa, Flat 1: £580pcm, Flat 2: £1,080pcm, Flat 3: £1,175pcm, Flat 4: £1,180pcm. Total income £77,580 pa.
EPC ratings

Restaurant: C (58)
Flat 1: New assessment needed, Flat 2: E (41), Flat 3: E (42), Flat 4: D (67).

Rateable value (rv)
According to the Valuation Office Agency website, the commercial element has a rateable value of £16,250 valid from 1st April 2023, while the apartments are all believed to be in Band B for council tax.
Legal costs and VAT

Each party is expected to bear their own legal costs in this transaction. The property is not elected for VAT purposes.
Viewings

All enquiries and appointments to view must be made by contacting Jon Baud at Trinity Rose Commercial on or by emailing .<br /><br />The subject building is situated on the Upper High Street (B3420) near the junction of Romsey Road (B3040) close to Winchester City Centre, and in close proximity to the Winchester Law Courts, Hampshire County Council offices and the High Street. It provides excellent access to Winchester Railway Station (0.2 miles) with regular trains to London Waterloo, Southampton and Basingstoke, with direct trains to the capital in under an hour. Winchester benefits from excellent transport links with Junction 9 and 10 of the M3 motorway, located to the east, providing access to London to the north east and Southampton to the south. Southampton Airport is located 11 miles to the south with easy access off Junction 5 of the M27. The property is also well served by the local bus network.

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Property descriptions and related information displayed on this page are marketing materials provided by - Trinity Rose Commercial. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Trinity Rose Commercial for full details and further information.

  1. Zoopla
  2. Commercial for sale
  3. Hampshire
  4. Winchester
  5. Upper High Street