25 City Road, Winchester, Hampshire, SO23 8SD

Description

Comprises a leasehold tattoo parlour arranged over the ground and basement floor. On a lease expiring in 2033. VAT is not applicable.

Accommodation

Total accommodation of approximately 84.9 sq m (914 sq ft), arranged over the ground and basement floors.

Location

Winchester is an historic city and important commercial, administrative and tourist centre situated approximately 12 miles north of Southampton and 15 miles south-west of Basingstoke. The M3 Motorway passes to the east of the city and links to London and the M25 to the north-east and the M27, Portsmouth and Southampton to the south. Winchester Rail Station provides frequent services to London Waterloo (60 mins), Southampton Central (18 mins) and Basingstoke (16 mins). The property is situated on the south side of City Road close to its junction with Sussex Street, 160 metres from Winchester Railway Station. Occupiers close by include The Co-operative and a range of local occupiers.

Tenure / Property Information

Investment Analysis

The £120,000+ guide is the only supplied pricing evidence. The sold comparables are leasehold flats/maisonettes and are not sufficiently comparable to this leasehold shop investment. No commercial valuation, rent, passing tenancy or yield evidence is supplied. The shop lease reportedly expires in 2033, which is a material valuation and finance consideration. A defensible GDV cannot be established from the evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence. Obtain the complete lease, confirm the true expiry and assignability, establish the passing rent and tenant position, and obtain a specialist commercial valuation before considering the £120,000+ guide.

Works Required

No physical defects or refurbishment requirements are evidenced. Allow for inspection only; no refurbishment budget can be supported. Legal review should confirm the relationship between the 125-year lease wording and the stated shop lease expiry in 2033.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable. There is no evidenced rent, GDV, refurbishment budget or refinance valuation, while the stated lease expiry in 2033 may materially restrict refinanceability and exit value.

Buy-to-Let Analysis

BTL yield cannot be established because no passing rent, rental estimate or sufficiently specific rental comparable is supplied. The asset is a commercial shop rather than a residential BTL property, and the stated 2033 lease expiry requires careful assessment of income security and residual value.

Flip Analysis

A flip surplus cannot be calculated. The only sold evidence relates to flats/maisonettes, not comparable commercial premises, and no supported resale value, works cost or selling allowance is supplied. The short stated lease term is a significant exit risk.

Investor Risks & Due Diligence

• The shop lease is stated to expire in 2033, materially affecting value, financeability and exit options.

• No passing rent, tenant details or rental comparables are supplied, so income and yield cannot be assessed.

• The supplied sold comparables are flats/maisonettes and are not suitable direct evidence for this commercial shop.

• The lease wording states both 125 years from completion and an expiry in 2033; this requires legal clarification.

• Seller or third-party additional charges may apply, but no amounts are supplied.

• No physical condition or refurbishment information is provided.

Recommendation

Do not bid on the current evidence. Obtain the complete lease, confirm the true expiry and assignability, establish the passing rent and tenant position, and obtain a specialist commercial valuation before considering the £120,000+ guide.

Strategy Rating

Analysis Confidence

The guide and basic lease/location details are supplied, but there is no commercial comparable evidence, rent, occupancy information, condition assessment, buyer/admin fee schedule or supported GDV.