Shops and flats in Waterlooville town centre are sold

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AN INVESTMENT package of three shops, three flats and five garages in a prominent Waterlooville shopping street has been sold.

Property consultancy Myddelton & Major negotiated the sale of 1-3 Queens Parade in London Road on behalf of Arkenstone Estates Ltd at the freehold sale price of £395,000.

Partner Simon Lee said: ‘Generating £34,250 per annum in rents, this mixed retail/residential investment produces an attractive net initial yield of circa eight per cent.

‘The freehold has been sold subject to lease. Existing tenants include the international hairdressing chain Celly’s, who moved in during October 2015, and the long-standing occupier The Rowans Hospice charity shop.’

The property includes three ground-floor shop units with three separate residential flats on the first floor, together with five lock-up garages and an external rear hardstanding parking/loading area.