£690,000
Property for sale
Property photos
Freehold
Guide price
£690,000
Property for sale
London Street, Basingstoke, Hampshire RG211 bath
Local area information
Property location
Nearby amenities
- Fairfields Primary School 0.2 miles
- The Costello School 0.3 miles
- Basingstoke 0.4 miles
- Bramley (Hampshire) 4.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Basingstoke to find out more about the local area.
Features and description
- Freehold
Freehold for Sale – Prime Mixed-Use Investment Opportunity – Basingstoke Town Centre
Galaxy Real Estate are excited to offer the market this excellent opportunity to acquire a fully let freehold mixed-use investment located in the heart of Basingstoke town centre, London Street, RG21, which comes with further potential to increase the rental income.
The property comprises a ground-floor commercial unit currently occupied by Bethesna Turkish Bar together with two self-contained 1-bedroom residential flats above (Coral Apartments), producing a strong combined rental income of £42,000 per annum.
The ground-floor commercial unit is let on a 10-year lease commencing from 11 August 2021 at a passing rent of £18,000 per annum, with approximately 5 years remaining.
The upper residential accommodation consists of 2 x 1-bedroom flats, both fully let at £1,000 pcm each, generating £24,000 per annum.
In addition, the property offers excellent future development potential with a previous pre-application submitted for 3 additional 1-bedroom flats in 2019, creating significant scope for further value enhancement (subject to planning). Once completed, there will be an additional income of £70k per annum.
The entire building is held freehold and offers investors a rare opportunity to secure a strong income-producing asset with long-term growth potential in a prominent town centre location close to Festival Place Shopping Centre, Basingstoke Railway Station, and major transport links, including the M3 motorway.
Key Features:
• Freehold mixed-use investment for sale
• Ground floor commercial unit let to established Turkish Barbar
• 2 x self-contained 1-bedroom flats fully let
• Total current rental income: £42,000 per annum
• Revised Annual Income: £70,000 per annum
• Potential for 3 additional flats (STPP)
• Prime central Basingstoke location
• Strong investment and development opportunity
Guide Price: Offers in Excess of £690,000
Serious enquiries only. Further information available upon request.
Galaxy Real Estate are excited to offer the market this excellent opportunity to acquire a fully let freehold mixed-use investment located in the heart of Basingstoke town centre, London Street, RG21, which comes with further potential to increase the rental income.
The property comprises a ground-floor commercial unit currently occupied by Bethesna Turkish Bar together with two self-contained 1-bedroom residential flats above (Coral Apartments), producing a strong combined rental income of £42,000 per annum.
The ground-floor commercial unit is let on a 10-year lease commencing from 11 August 2021 at a passing rent of £18,000 per annum, with approximately 5 years remaining.
The upper residential accommodation consists of 2 x 1-bedroom flats, both fully let at £1,000 pcm each, generating £24,000 per annum.
In addition, the property offers excellent future development potential with a previous pre-application submitted for 3 additional 1-bedroom flats in 2019, creating significant scope for further value enhancement (subject to planning). Once completed, there will be an additional income of £70k per annum.
The entire building is held freehold and offers investors a rare opportunity to secure a strong income-producing asset with long-term growth potential in a prominent town centre location close to Festival Place Shopping Centre, Basingstoke Railway Station, and major transport links, including the M3 motorway.
Key Features:
• Freehold mixed-use investment for sale
• Ground floor commercial unit let to established Turkish Barbar
• 2 x self-contained 1-bedroom flats fully let
• Total current rental income: £42,000 per annum
• Revised Annual Income: £70,000 per annum
• Potential for 3 additional flats (STPP)
• Prime central Basingstoke location
• Strong investment and development opportunity
Guide Price: Offers in Excess of £690,000
Serious enquiries only. Further information available upon request.
Floor plans and tours
Floor plans (1)
More information
Listed by
Galaxy Real Estate
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Property descriptions and related information displayed on this page are marketing materials provided by - Galaxy Real Estate. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Galaxy Real Estate for full details and further information.