A shop and office investment property in a prime trading position in Totton has sold very quickly after a great deal of interest.
Property consultancy Myddelton & Major successfully negotiated the sale of the property for the asking price of £295,000 freehold.
The premises at 4 Testwood Lane, Totton, comprise a ground floor shop of 983 sq ft (91.32 sq m) – let to Alabaré Christian Care Centres furniture and electricals shop – and vacant first floor office space.
Myddelton & Major partner Simon Lee said: “There was a great deal of competitive interest from potential buyers and this property sold very quickly.
“The sale demonstrates the continuing confidence in the retail investment market and there is good demand for this type of freehold property.
“It is an excellent investment with the business tenancy on a 10-year lease from August 2013 with upwards-only rent reviews.”
The first floor comprised a suite of four offices with self-contained rear access and shared parking with excellent potential for residential conversion, having recently obtained Permitted Development consent.
The property occupies a prominent trading position in the busy Hampshire town, close to the junction with Commercial Road, which forms the A336, a major traffic through route.
The premises were bought by a private property investor from Newbury.
