London Street, Andover, SP10 2PA

Town Centre Mixed-Use Investment | £63,040 p.a. Income | Approx. 7.0% Gross Yield | Guide Price £900,000 Prime Freehold Investment Opportunity

An outstanding opportunity to acquire a prominent mixed-use investment in the heart of Andover town centre, comprising the freehold interest of the entire building together with the leasehold interests of Flats 2–6 and a ground floor commercial premises let to an established commercial occupier.

Producing a current gross rental income of approximately £63,040 per annum, the property offers investors an attractive and diversified income stream from both commercial and residential sources, together with future asset management and value enhancement potential.

The ground floor commercial accommodation is let on a 10-year Full Repairing and Insuring lease commencing 16 January 2025 and expiring in January 2035. The current passing rent is £19,000 per annum, increasing to £20,000 per annum in 2028, with a tenant break option and rent review scheduled for January 2030.

The residential element comprises five self-contained apartments (Flats 2–6), all of which are included within the sale and currently generate a combined rental income of approximately £44,040 per annum. The apartments are well established and provide a strong residential income stream within a highly desirable town centre location.

The seller advises that the property has historically benefited from strong tenant demand and low levels of tenant turnover. Furthermore, the current residential rents may offer future reversionary potential, with a number of the apartments considered to be let at levels below prevailing market rents, presenting an opportunity for rental growth as tenancies are due to be reviewed in 2027.

The sale includes the freehold of the entire building. Flat 1 is held on a long lease expiring 31 December 2133, with the freeholder retaining all associated reversionary interests. There may also be an opportunity to acquire the leasehold interest of Flat 1 by separate negotiation, presenting the potential for purchasers to secure ownership and control of the entire block. Further benefits include rights to three parking spaces located to the rear of the property, currently allocated within the commercial tenancy.

Occupying a highly visible and central position within Andover town centre, this rare investment opportunity combines a secure commercial tenant, established residential income, long-term reversionary interests and significant future asset management potential, making it an attractive proposition for private investors, property companies and portfolio purchasers alike.

Investment Highlights • Freehold mixed-use investment • Prime Andover town centre location • Current gross rental income of approximately £63,040 per annum • Approximate gross yield of 7.0% based on the guide price • Ground floor commercial premises let on a 10-year lease until January 2035 • Five income-producing residential apartments included within the sale • Potential future rental growth from the residential accommodation • Historically low tenant turnover and strong occupancy levels • Freehold retained over Flat 1 with long lease expiring in 2133 • Potential opportunity to acquire Flat 1 leasehold interest by separate negotiation • Three parking spaces to the rear of the property • Diversified commercial and residential income stream • Attractive asset management and long-term investment potential

Tenure Freehold together with the leasehold interests of Flats 2, 3, 4, 5 and 6. Flat 1 is held on a long lease expiring 31 December 2133.

EPC Commercial Unit: EPC Rating C EPC rating: C. Tenure: Freehold,