City Road, Winchester, Hampshire, SO23

Mixed-use freehold investment for sale in Winchester, situated just 160m from the mainline railway station.

The subject property, a former furniture showroom, benefits from a large ground-floor retail space with part-decked, south-facing terrace to the front and off-street parking for four vehicles on Swan Lane to the rear. It is a highly-visible premises with a full height glazed frontage in a very high footfall location. The space was recently leased to a franchisee trading under the recognised brand of Schmidt. It is a 15-year FRI lease secured by a substantial rent deposit and personal guarantee and signed Outside the Act. The unit will benefit from significant investment as it is to be a fitted out to a very high standard, in keeping with other stores the company operates.

The upper floors of the building, known as Penn Court (7 Swan Lane), are accessed via the rear and comprise 6 individual residential units, all of which are sold off on long leases.

SITUATION
The building is situated on City Road, a few minutes’ walk from Winchester railway station, Jewry Street and the pedestrianised High Street. The mediaeval city centre has a plethora of national, regional and independent businesses, as well as an excellent range of food, hospitality and entertainment offerings. Tourist attractions such as Winchester Cathedral, The Great Hall, City Mill as well as many beautiful buildings, gardens, churches, monuments and museums bring visitors year-round to this desirable City. It is just 160m from the train station, on bus routes and the M3 motorway is around 1 mile to the east.

ACCOMMODATION
A ground floor net internal area (NIA) of 1,336 Sq. Ft. / 124.1 Sq. M. was identified.

TENURE
We are instructed to seek offers of £700,000, subject to contract, for the freehold interest in title number HP532087, to include any subsisting leases. A sale at this level equates to a gross yield of 6.42% on the existing commercial income, which will be reviewed every 5 years along with each break. There is an opportunity to generate further income by extending the upper floor residential leases, as and when required.

RATEABLE VALUE
Online enquiry via indicates a rateable value of £25,750 effective from 1st April 2023, suggesting rates payable of £12,850 pa, however the government are currently providing additional business rates relief for certain sectors, until April 2026. For more information please contact the relevant Local Authority.

EPC RATING
The commercial unit is rated C (67) under certificate reference 9534-4589-2594-7847-1375, which is valid until 18th August 2034.

LEGAL COSTS AND VAT
Each party is expected to bear their own legal costs in this transaction. We are informed that the building has not been Opted to Tax therefore VAT will not be added to the purchase price.

VIEWINGS
All enquiries can be made via contacting the sole agent Trinity Rose Commercial on , or by emailing .