79-82, Canal Walk, SOUTHAMPTON, Hampshire, SO14 3BH
11th September 2023
starts 09:30 AM at Grand Connaught Rooms
starts 09:30 AM at Grand Connaught Rooms
guide price *
£550,000
Tenure: Freehold
!
The negotiator dealing with this Lot is Peter Bryan and he can be contacted on 02380 338 066 or by email: peter.bryan@fox-and-sons.co.uk
Freehold commercial investment with income of £67,500 PA.
Five serviced studio apartments & double shop unit
City centre location with redevelopment potential (STPP)
Tenure
Freehold
Location
The property can be found in the very heart of Southampton City Centre and is ideally placed for the readily available comprehensive city centre amenities, together with short and long stay parking options and access to travel networks connections.
Description
This part two storey commercial property forms ‘Canal Walk Studios’ (79- 80), comprising of 5 serviced studio apartments (Class C1) which are leased at £58,500 pa, together with a double shop unit (81-82) which operates as a Medicine Retail/Treatment Centre (Class A1/D1) let at £9,000 PA. The property is ideally located for city centre rental purposes and offers the potential for the addition of further storeys to the existing or complete redevelopment of the site (STPP).
Accommodation
79-80 Canal Walk Studios
Ground Floor: Entrance Hall with Stairs to First Floor and Doors to:
Studio Apartment Let 1 (income £900 pcm) – Entrance Hall, Open Plan Living/Sleeping/Kitchen Area, Bathroom/WC.
Studio Apartment Let 2 (income £950 pcm) – Entrance Hall, Open Plan Living/Sleeping/Kitchen Area, Bathroom/WC.
Studio Apartment Let 3 (income £950 pcm) – Entrance Hall, Open Plan Living/Sleeping/Kitchen Area, Bathroom/WC.
Accommodation (continued):
First Floor: Landing with Doors to:
Studio Apartment Let 4 (income £975 pcm) – Open Plan Living/Sleeping/ Kitchen Area, Bathroom/WC.
Studio Apartment Let 5 (income £1,100 pcm) – Open Plan Living/ Sleeping/Kitchen Area, Dressing Area, Bathroom/WC.
81-82 Double Shop Unit
Entrance Hall, Shop Front Reception, Inner Hall/Storage Room, Studio One, WC, Inner Corridor, Studio Two, Studio Three, Kitchen, Shower/WC (income £2,250 per quarter).
Tenancy Details
79-80 Canal Walk Studios is leased to De-Luxe Apartments at £58,500 pa for 5 years from 2nd November 2022, with 81-82 Canal Walk let on a 5 year commercial lease dated 3rd May 2019 at £9,000 pa. All interested parties are advised to satisfy themselves with the terms of the agreements and the auction legal pack prior to bidding.
EPC
Studios 1, 3 & 5 – E. Studios 2 & 4 – D. Shop – TBC.
VOA Rating
79 - 80 Canal Walk - £7,100 pa. 81 – 82 Canal Walk - £7,600 pa.
Viewing Agent
Fox & Sons Auctioneers
32-34 London Road, Southampton, Hampshire, SO15 2AG
E auctions.southampton@fox-and-sons.co.uk
T 023 8033 8066
Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Five serviced studio apartments & double shop unit
City centre location with redevelopment potential (STPP)
Tenure
Freehold
Location
The property can be found in the very heart of Southampton City Centre and is ideally placed for the readily available comprehensive city centre amenities, together with short and long stay parking options and access to travel networks connections.
Description
This part two storey commercial property forms ‘Canal Walk Studios’ (79- 80), comprising of 5 serviced studio apartments (Class C1) which are leased at £58,500 pa, together with a double shop unit (81-82) which operates as a Medicine Retail/Treatment Centre (Class A1/D1) let at £9,000 PA. The property is ideally located for city centre rental purposes and offers the potential for the addition of further storeys to the existing or complete redevelopment of the site (STPP).
Accommodation
79-80 Canal Walk Studios
Ground Floor: Entrance Hall with Stairs to First Floor and Doors to:
Studio Apartment Let 1 (income £900 pcm) – Entrance Hall, Open Plan Living/Sleeping/Kitchen Area, Bathroom/WC.
Studio Apartment Let 2 (income £950 pcm) – Entrance Hall, Open Plan Living/Sleeping/Kitchen Area, Bathroom/WC.
Studio Apartment Let 3 (income £950 pcm) – Entrance Hall, Open Plan Living/Sleeping/Kitchen Area, Bathroom/WC.
Accommodation (continued):
First Floor: Landing with Doors to:
Studio Apartment Let 4 (income £975 pcm) – Open Plan Living/Sleeping/ Kitchen Area, Bathroom/WC.
Studio Apartment Let 5 (income £1,100 pcm) – Open Plan Living/ Sleeping/Kitchen Area, Dressing Area, Bathroom/WC.
81-82 Double Shop Unit
Entrance Hall, Shop Front Reception, Inner Hall/Storage Room, Studio One, WC, Inner Corridor, Studio Two, Studio Three, Kitchen, Shower/WC (income £2,250 per quarter).
Tenancy Details
79-80 Canal Walk Studios is leased to De-Luxe Apartments at £58,500 pa for 5 years from 2nd November 2022, with 81-82 Canal Walk let on a 5 year commercial lease dated 3rd May 2019 at £9,000 pa. All interested parties are advised to satisfy themselves with the terms of the agreements and the auction legal pack prior to bidding.
EPC
Studios 1, 3 & 5 – E. Studios 2 & 4 – D. Shop – TBC.
VOA Rating
79 - 80 Canal Walk - £7,100 pa. 81 – 82 Canal Walk - £7,600 pa.
Viewing Agent
Fox & Sons Auctioneers
32-34 London Road, Southampton, Hampshire, SO15 2AG
E auctions.southampton@fox-and-sons.co.uk
T 023 8033 8066
Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.
The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.
Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.
When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.
1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Council Tax Band: Please contact Auction centre
Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.
lot infomation last updated: 21st September 2023 at 11:10 AM
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