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Units A-D & Flats 1-4 The George, George Yard, Andover, Hampshire, SP10 1PD
Guide Price* : £825,000
Mixed Use Investment In the Heart of Andover
- High Yielding Mixed Use Investment
- Desirable Town Centre Location
- Producing £78,144 per annum
- WAULT of 6.11 years to Expiry on the Commercial Leases
- Guide Price of £825,000 represents an attractive NIY of 9.0%
Description
The property comprises four commercial units and four residential flats. The commercial units are arranged around Georges Yard, a pedestrian route connecting one of the principal town-centre car parks and the pedestrianised High Street. The units are used as a salon and a beauty parlour, with the remaining two units both being used by a pet shop.
The residential flats are situated above Unit A and are within a Grade II listed building. The flats include 2x one bedroom, 1x 3 bedroom and 1x four bedroom and benefit from excellent views over Georges Yard and the centre of Andover.
Location
The property is located in Andover, one of the principal towns in Hampshire and a gateway town to South West England due to its location on the A303.
The property is situated just off the High Street, with Georges Yard forming the main accessway between the High Street and the central car park.
Tenure
Freehold
Tenancy
Please see the Tenancy Schedule provided under "Related Documents" (to the right hand side of the page)
The commercial units are let on four separate leases as follows:
Unit A - Let to Burgos Pet World on a ten year lease expiring May 2029 and paying a rent of £16,800 per annum
Unit B - Let to The Bad Penny Hair Studio Ltd on a ten year lease expiring July 2029 and paying a rent of £8,772 per annum
Unit C - Let to Andover Engineering Limited on a five year lease expiring January 2025 and paying a rent of £8,772 per annum
Unit D - Let to Burgos Pet World on a nine year lease expiring May 2029 and paying a rent of £6,600 per annum
The residential units are all let on separate Assured Shorthold Tenancy (AST) agreements. These tenancies are on a rolling periodic basis and producing a total rent of £37,200 per annum.
VAT
We understand the property has been elected for VAT and that it is envisaged the sale will be dealt with as a TOGC
Contact
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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Related Documents
Agreement Documents
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Subject to Contract and Exclusive of VAT © Lambert Smith Hampton April 2025
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