Summary - 40, HIGH STREET SO41 9AF
4 bed 1 bath Shop
Fully let mixed-use property with steady income and rear parking.
Freehold mixed-use Victorian/Georgian building, sizeable 2,597 sq ft
A rare freehold investment in the heart of a sought-after Georgian market town, sold fully let and producing £36,450 pa (approx. 6.5% gross yield at the asking price). The Grade II listed building combines a ground-floor retail unit, extensive basement and multi-storey office accommodation over first to third floors, each unit held on visible short-to-medium term leases. Allocated rear parking serves both parts of the property—a practical benefit for town-centre assets.
The ground-floor shop is let to Hoxton Bakehouse with four years remaining on a 10-year lease at £29,250 pa; 40A (second/third floors) is producing £7,200 pa on a three-year term from April 2024. The internal layout includes separate office suites, kitchen and cloakroom facilities and offers immediate rental income with low management disruption. Mobile signal is excellent and the town is affluent with strong footfall from local shops, markets and proximity to marinas and New Forest attractions.
Material considerations are factual and important: the building is Grade II listed so any alterations will require listed-building consent and could be restrictive and costly. The property sits in an area recorded with higher crime levels, which may affect tenant mix and insurance costs. Broadband speeds are average; some modernisation may be required in parts of the building to meet contemporary office or retail standards. Overall this is an income-producing, central asset with clear upside from rent reviews or future lease renewals subject to listed-building constraints.
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