Hill Lane, Southampton, Hampshire, SO15

Southampton, a prominent retail, leisure, and business hub on the Hampshire coast, is strategically positioned approximately 76 miles south of London, 30 miles east of Bournemouth, and 20 miles west of Portsmouth.

The subject property provides strong transport links and is a 2.5 miles from Southampton City Centre, easily accessed via car or bus in 15 minutes. The city benefits from excellent road connectivity, with the M27 motorway running east to west just north of the city, linking directly to the M3 motorway, offering quick access to the M25 and London. Southampton Airport is located just 4 miles from the city centre, serves as a gateway for both domestic and European travel, handling approximately 8 million passengers in 2023.

Located in an affluent northern suburb of Southampton;
Within 2 miles of the M27/M3 intersection and 2.5 miles of Southampton City Centre;
Highly visible and accessible site for both residents and commuters;
Prominent roadside Sainsbury's convenience store, benefitting from 14 designated customer parking spaces;
Freehold,
100% of income secured against undoubted Sainsbury's Supermarkets Limited covenant;
Five yearly upward only rent review in Jun-28 to RPI compounded annually (collared and capped at 2%-4%);
8.35 years to lease expiry, tenant removed Jun-23 break option;
Well configured 4,025 sq ft (374 sq m) store arranged over ground floor on a 0.27 acres (0.11 hectares) site;
Passing rent of £148,156 per annum.

Proposal
We are instructed to seek offers in excess of
£2,500,000
(Two Million Five Hundred Thousand Pounds), exclusive of VAT and subject to contract.
Net Initial Yield 5.57% (Assuming graduated purchaser's costs of 6.38%).
Running Yield 2028 6.78% (Assuming 4% pa RPI).