Cranbourne Ln
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Cranbourne Ln
3,011 SF 100% Leased Retail Building Basingstoke RG21 3NY $1,278,037 ($424/SF)
Investment Highlights
- Sizeable frontage
- Mixed-use asset
- Prime retail location
Executive Summary
Prime investment opportunity to purchase the freehold interest in this mixed retail and residential property on Cranbourne Lane, Basingstoke.
Shops 1 – 3 Let to a franchisee operating as Nisa on a new (July 2024) 10 year effective full repairing and insuring lease, with a tenant only break clause 26th September 2028, the lease is drafted within the LL and T act.
Shop 4 Let to an independent hairdresser on an effective full repairing and insuring basis, on a 10 year lease, to expire 30th March 2025. Drafted outside the LL & T act. Negotiations for a lease extension are ongoing.
Shop 5 Let to an independent beautician on a 5 year lease, from 8th March 2021 on an effective full repairing and insuring basis.
Total income for the commercial units total £37,600 per annum. The income for the 3-bedroom maisonettes total £50,340 per annum.
Shops 1 – 3 Let to a franchisee operating as Nisa on a new (July 2024) 10 year effective full repairing and insuring lease, with a tenant only break clause 26th September 2028, the lease is drafted within the LL and T act.
Shop 4 Let to an independent hairdresser on an effective full repairing and insuring basis, on a 10 year lease, to expire 30th March 2025. Drafted outside the LL & T act. Negotiations for a lease extension are ongoing.
Shop 5 Let to an independent beautician on a 5 year lease, from 8th March 2021 on an effective full repairing and insuring basis.
Total income for the commercial units total £37,600 per annum. The income for the 3-bedroom maisonettes total £50,340 per annum.
Property Facts Sale Pending
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Storefront Retail/Residential
Building Size
3,011 SF
Building Class
B
Year Built
1933
Price
$1,278,037
Price Per SF
$424
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.51
Lot Size
0.13 AC
Frontage
73 FT on Cranbourne Lane
Amenities
- Automatic Blinds
- Storage Space
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Nearby Major Retailers
1 of 5
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Cranbourne Ln
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