Summary - 30, VICTORIA ROAD SO19 9DX
1 bed 1 bath Mixed Use
Turnkey income with short-term rental upside near station.
• Freehold mixed-use building: retail plus 4 x 1-bed apartments
• Current rent roll £37,200 p.a.; ERV £63,600 p.a.
• Gross initial yield 8.48% at £750,000 guide price
• Part newly developed to a high standard in 2024
• Two flats vacant; immediate re-let / refurbishment potential
• Retail let on 10-year FR&I lease from Feb 2025
• One flat benefits from a private rear garden
• Local area: high crime and very high deprivation
A four-storey mixed-use freehold in Woolston offering immediate rental income and short-term upside. The building combines a ground-floor retail unit and four one-bed apartments, partly newly developed in 2024 to a high standard. Current income is £37,200 p.a. with an estimated rental value (ERV) of £63,600 p.a., giving a gross initial yield of 8.48% at the asking price.
The retail unit is let on a 10-year FR&I lease from February 2025 at £15,000 p.a., with an RPI-linked review in 2030 and a tenant option in 2030. Two apartments are let on assured shorthold tenancies and two are vacant, presenting immediate re-let or refurbishment opportunity to push income toward ERV. One flat benefits from a private rear garden, a useful tenant differentiator in the area.
Location is convenient for commuting: a short walk to Woolston train station and local amenities including convenience stores and food outlets. The property sits in a predominantly private-renting neighbourhood with strong demand from new arrivals, but the local area records high crime and very high deprivation, factors investors should weigh when setting rents or service standards.
This is a hands-on investment: part-new build quality reduces near-term capital expenditure, yet two vacant flats and the small plot size mean active management or light refurbishment will improve returns. VAT is not applicable to the sale.
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