Gascoignes Available Retail and Leisure Properties | 27 High Street Haslemere for sale

Description

The premises are situated in probably the best location in Haslemere, with nearby occupiers including India Jane, Costa Coffee, Boots, East and Aga Cookware. Waitrose supermarket car park is within 50m (170 spaces).

The ground floor has been let to Caracoli by way of a new 10 year FRI lease from August 2016 at a commencing rental of £33,000.00 per annum rising to £44,000.00 per annum in year 3. There is a tenants option to determine the lease in the 5th year.

The upper parts are presently vacant and could be sold off or let. If the latter, it is our view that the 1 x bed units could be let for £800.00 - £825.00 pcm whilst the 2 x bed unit could achieve a rental level of between £950.00 - £975.00 pcm.

This would equate to a total rental income (including the ground floor income) of between £63,600.00 and £64,500.00 per annum exclusive.

PRICE: We are seeking £1.25 Million for the Freehold interest to include the ground floor shop and the 3 x self-contained flats above, a purchase at this level would show a gross initial yield of between 5.08% and 5.16% rising significantly in 2018.

Alternatively, our clients would consider a sale of the freehold interest excluding the residential apartments. In this regard we are seeking £600,000.00 which will show a gross initial yield of 5.5% rising to 7.33% in August 2018.