DESCRIPTION
- A unique opportunity to acquire a secure income producing retail investment together with a fully consented mixed use development with further value-add potential in what would be one of the first opportunities to come forward within the Silverhill Regeneration Action Plan.
- Two adjoining sites across High Street and Silver Street in Winchester Town Centre
Winchester is one of southern England’s strongest historic retail destinations buoyed by an affluent catchment, substantial visitor economy and historic low vacancy rates. - 149-150 High Street is arranged as two retail units let to renowned second hand electronics reseller, CEX Ltd, and Healthspan Retail Serviced Ltd producing a total income of £137,000pa. The upper parts (E Class) are currently vacant and are not leased to the ground floor tenants. There is significant value add potential to convert to residential apartments. Proposed plans drawn for the conversion of and an additional storey to provide 4 flats (2 x 1 bed and 2 x 2 bed).
- Site at Silver Hill, accessed from Silver Hill, benefits from full planning permission for the partial demolition of the existing building and the construction of retail (Class E) space and 9 residential units. Once completed, the scheme will offer 1,550 sq ft (NIA) of retail space and 6,297 sq ft (NIA) of residential floorspace, comprising 2 x 1-bed and 7 x 2-bed flats, all of which have been specifically designed to a premium specification. All apartments will benefit from private amenity space.
- Freehold.
Offers are invited for both elements or on an individual basis with the following Guide Prices:
149-150 High Street – £1,350,000 subject to contract
Site at Silver Hill – £1,000,000 subject to contract
The property is elected for VAT and it is envisaged that the sale will be treated as a Transfer of Going Concern (TOGC).
