Retail premises for sale

The Brewhouse, Cooperage Green, Weevil Lane, Gosport, Hampshire PO12

Gosport is a large town within southern Hampshire, situated 5 miles south of Fareham and 15 miles southeast of Southampton. The A32 provides access from Fareham in the north, with further access to the M27. The property is part of the Cooperage Green development, a highly regarded commercial area near the waterfront.

The property comprises the ground floor of a detached commercial building of traditional brick construction. The opportunity provides well-presented space with WC Facilities, directly facing the main square and Marina. The parade of shops include other neighbouring businesses, including One Stop convenience store and bars/restaurants, making a positive impact to the footfall in the area.

Total Gross Internal Area 1,011 Sq Ft (93.92 Sq M)

We believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, cafe`, health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.

Asset Rating - B (32)

Rateable Value £14,750
Source

Offers considered in the region of £183,000 subject to contract for the 999 year long leasehold, subject to subsisting tenancy.
We understand that VAT is payable, however all parties are advised to make their own enquiries into the matter.

Investment Property

Gross Internal Area 1,011 Sq Ft (93.92 Sq M)

Rent Income £17,000 per Annum

Net Initial Yield 9%

Established Tenant in Place

In Demand Commercial Area

The property is let by way of a lease dated 5th March 2024 for a term of 7 years at a passing rent of £17,000 per annum, expiring 3rd March 2031. The lease is subject to an tenant break clause on 4th March 2029, subject to 6 months notice. The lease is drawn on full repairing & insuring terms.

Please note the occupational tenants are liable for a service charge of £ 1,494.80 per annum inclusive of VAT.