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Station Rd - Grand Parade
1,417 SF Retail Condo Unit Offered at $517,808 in Hook RG27 9HF
Investment Highlights
- Affluent location near J5 M3 Motorway
- Excellent road links to London, the South Coast and the West
- Property forms part of a popular retail / residential parade at the junction of Station Road and London Road
- Hook mainline station is within easy walking distance and provides a frequent service to London (Waterloo) with a journey time of approximately 45 min
Executive Summary
7 Grand Parade forms part of a popular retail / residential parade at the junction of Station Road and London Road and within a mile of the M3 motorway (Junction 5) providing excellent road links to London, the South Coast and the West. Hook mainline station is within easy walking distance and provides a frequent service to London (Waterloo) with a journey time of approximately 45 minutes. There is a wide range of local amenities and shopping facilities including Boots adjacent, and Tesco store.
Property Facts Sale Pending
| Price | $517,808 | Sale Type | Investment |
| Unit Size | 1,417 SF | Floors | 1 |
| No. Units | 1 | Typical Floor Size | 1,417 SF |
| Total Building Size | 1,417 SF | Year Built | 1967 |
| Property Type | Retail (Condo) | Tenancy | Single |
| Property Subtype | Storefront Retail/Residential | Lot Size | 0.06 AC |
| Price | $517,808 |
| Unit Size | 1,417 SF |
| No. Units | 1 |
| Total Building Size | 1,417 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Residential |
| Sale Type | Investment |
| Floors | 1 |
| Typical Floor Size | 1,417 SF |
| Year Built | 1967 |
| Tenancy | Single |
| Lot Size | 0.06 AC |
1 Unit Available
Unit 7
| Unit Size | 1,417 SF | Sale Type | Investment |
| Price | $517,808 | Tenure | Long Leasehold |
| Price Per SF | $365.43 | Cap Rate | 3.32% |
| Condo Use | Retail | NOI | $17,176.05 |
| Unit Size | 1,417 SF |
| Price | $517,808 |
| Price Per SF | $365.43 |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Cap Rate | 3.32% |
| NOI | $17,176.05 |
Description
7 Grand Parade comprises a ground floor retail unit which has been operating as a Travel agents (t/a Toucan Travel) for many years. The shop is currently arranged as a sales area
with ancillary / store behind and rear access for deliveries. Staff w.c and welfare facilities are provided to the rear. There is generous customer car parking in front of the
retail parade, and rear car parking for staff / residents which is not allocated.
There is a maisonette above which is arranged at First and Second floors accessible via the stair cases either end of the parade. The maisonette is arranged with an entrance
hallway with stairs leading to 3 bedrooms (2 double and 1 single), and a bathroom. The downstairs is arranged with a generous lounge / dinner and separate kitchen which leads
out to an enclosed terrace / garden area. We understand there is a separate lock up garage in the block behind.
Sale Notes
Investment retail unit for sale.
The retail premises is let to Toucan Travel, which was acquired by Travel Corp Midlands Limited. The lease is granted for a term of 6 years, from 18th March 2021. The current passing rent for the shop is £13,600 per annum exclusive, payable quarterly in advance.
From 18th March 2024 to 17th March 2025 the rent will increase to £15,000 per annum exclusive of VAT and other outgoings, then from 18th March 2025 to 17th March 2026 the rent will be £16,000 per annum exclusive of VAT and other outgoings, then from 18th March 2026 and onwards the rent will be £17,000 per annum exclusive of VAT and other outgoings.
The flat is let at £1,150.00 per calendar month on a 12 month AST
7 Grand Parade img 1
Amenities
- Energy Performance Rating - C
Nearby Major Retailers
Learn More About Investing in Retail Properties
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Station Rd - Grand Parade
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