Summary - 1, MILVIL COURT, MILVIL ROAD PO13 9LY
1 bed 1 bath Retail Property (high street)
Compact retail premises with garage — ideal for independent operators or small investors.
Seafront location on a busy local parade with passing footfall
Set on Milvil Road directly overlooking the Lee-on-the-Solent seafront, this ground-floor lock-up retail unit offers about 623 sq ft of bright, flexible sales space with large glazed frontage. The layout includes two smaller rear rooms, a kitchenette, shower and WC, plus an ancillary garage to the rear — useful for storage or secure parking. The building is modern mixed-use and benefits from fast broadband, double glazing and an EPC rating of B (48).
This long-leasehold opportunity is aimed at owner-occupiers and investors wanting a small high-street premises in a popular coastal parade that attracts passing foot and vehicle traffic. Current service charge is £1,680 pa and the advertised price is £180,000; alternatively the unit is available to let for £14,000 pa on a new effective FRI lease. Small business rates relief may apply given the current rateable value of £6,900 — buyers should confirm rates with the local council.
Buyers should be clear about material limitations. The lease has 72 years remaining — many mortgage lenders will refuse to lend on leases under typical lender thresholds, which could restrict mortgage-based purchasers. Heating is by electric room heaters only and the building’s cavity walls are assumed uninsulated, so running costs and potential retrofit for insulation or full heating upgrade should be factored in. The area records above-average crime compared with national figures.
For the right buyer this is a compact, low-maintenance high-street unit with coastal positioning and mixed-use footfall. It suits a small independent retailer, service business or an investor seeking a modest rental return, but purchasers must allow for lease-related financing constraints and some building services upgrading.
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