The Old Schoolhouse, Provost Street, Fordingbridge, SP6 1AY

Name: The Old Schoolhouse, Provost Street, Fordingbridge, SP6 1AY
Address: Fordingbridge, Hampshire

£120,000 for sale

Overview

Investment
Property Type

Description

Location

Description

For Sale - Newly Refurbished Tenanted Investment Property

Fordingbridge is an attractive town located approximately 12 miles south of Salisbury and 7 miles north of Ringwood on the A338 and has a population of approximately 6000 (2011 Census).

The town plays host to a healthy mixture of local, regional and national retailers trading alongside a range of hospitality lead and Professional services businesses.

Fordingbridge has undergone considerable expansion with several hundred new homes recently built in close proximity to the town.

The subject premises is known as the 'Old School House' which is a grade II listed building fronting Provost Street, comprising several separate ground floor office rooms forming one unit.

Accommodation

Office 1 - 213 Sq. Ft. (19.82 Sq. M.)
Office 2 - 299 Sq. Ft. (27.76 Sq. M.)
Office 3 - 94 Sq. Ft. (8.7 Sq. M.)
Office 4 - 130 Sq. Ft. (12.12 Sq. M.)
Kitchenette
WC
2 Car Parking Spaces
Total Net Internal Area - 736 Sq. Ft. (68.4 Sq. M.)

Planning

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

EPC Text

Asset Rating - TBC

Rating

Rateable Value £7,600
Source www.gov.uk/find-business-rates

Terms

Offers invited in the region of £120,000 for the freehold

We understand that VAT is not payable, however all parties are advised to make their own
enquiries into the matter.

TENANCY

The ground floor is let via an effective full repairing and insuring lease to Evolve Mental Health Ltd for a term of 5 years commencing on 22nd June 2026 expiring on 21st June 2031 at a rental of £9,000 per annum, exclusive.

The lease is personally guaranteed by two directors of Evolve Mental Health Ltd. The lease contains a rent review and tenant only break clause on the 22nd June 2029.

The first floor flat is sold off via a 125 year long leasehold from 14th June 1999, with a ground rent payable of £100 per annum.
The ground rent payable increases to £400 per annum in 2049 and £800 in 2074

The rear flat is sold off via a 125 year long leasehold from 9th April 1998, with a ground rent payable of £100 per annum.The ground rent payable increases to £400 per annum in 2049 and £800 in 2074

Total income receivable: £9,200 per annum.

Anti Money Laundering

Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.

Summary

Key points

Recently let to a Mental Health Clinic at a rental of £9,000 per annum, exclusive.
Ground Rents totalling £200 per annum
Total Income Receivable £9,200 per annum
Offers Invited in the Region of £120,000 for the freehold