Victory House, Andover Road, Whitchurch, Hampshire

Description

Former car dealership comprising 2 large forecourts, showrooms, workshop and offices. Occupying a site of 0.46 acres. The property is held in 3 freehold titles comprising the main showroom and workshop, rear showroom with separate offices and forecourt to the side. The buildings extend to 5908 sq ft and are presented in good order. They are metered separately for utilities and have kitchen and WC facilities. The seller has advised the main showroom was recently re-roofed, the buildings have been rewired including the installation of new meters, and new lighting has been installed in the main showroom. The site EPC rating is C. Site parking for circa 70 vehicles including 20 in the showrooms. Potential to break the site for rental income or re-sale. Great potential for motor trade, and a variety of alternative uses including leisure / gymnasium, subject to the necessary consents. The purchase is advised to be exempt from VAT.

Accommodation

2 large forecourts, showrooms, workshop and offices; buildings extending to 5,908 sq ft; kitchen and WC facilities.

Location

Victory House, Andover Road, Whitchurch, Hampshire.

Tenure / Property Information

Investment Analysis

The £875,000 guide equates to approximately £148 per sq ft on the stated 5,908 sq ft buildings, before considering the 0.46-acre site and forecourts. The only relatively recent comparable is £960,000 for a different 'Other' property on Andover Road in Whitchurch dated July 2021. The historic £230,000 and £65,000 sales are for Victory House but are too old to establish current value. A reliable current GDV cannot therefore be established from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Treat as a commercial owner-occupier or commercial investment acquisition only after obtaining an independent commercial valuation, rental appraisal and confirmation of permitted alternative uses. Do not rely on the £960,000 comparable as GDV.

Works Required

No specific refurbishment works are evidenced. The property is described as being in good order, with the main showroom reportedly recently re-roofed, rewired and fitted with new lighting. Independent verification of condition, services, roof works and compliance is required.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because there is no supported rent, current GDV, refurbishment budget or refinance valuation. The three freehold titles and separately metered buildings may support operational flexibility, but any subdivision or alternative use requires due diligence and potentially further consents.

Buy-to-Let Analysis

This is commercial property rather than a conventional residential BTL asset. No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rental income and yield cannot be established. The potential to split the site for rental income is only stated as potential and is not quantified.

Flip Analysis

A resale surplus cannot be calculated. The £960,000 2021 Andover Road comparable is for a different property type and is not sufficient to establish Victory House's current resale value. The stated £2,700 buyer premium is known, but works, selling costs and a supported GDV are not.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence or passing rent is supplied.

• The £960,000 comparable is a different property type and dates from 2021, limiting its relevance.

• Potential leisure, gymnasium or other alternative uses are subject to necessary consents.

• The property is held in three freehold titles, requiring title and operational due diligence.

• Additional fees may be listed in the Special Conditions of Sale.

• Seller-reported roof, rewiring and lighting works have not been independently verified.

Recommendation

Treat as a commercial owner-occupier or commercial investment acquisition only after obtaining an independent commercial valuation, rental appraisal and confirmation of permitted alternative uses. Do not rely on the £960,000 comparable as GDV.

Strategy Rating

Analysis Confidence

The evidence provides detailed physical information, title structure and guide price, but lacks current commercial valuation evidence, rental evidence, occupancy details, refurbishment costs and selling-cost assumptions.