2-bedroom house · SO41 0QE
Listing removedReduced £15k (−3.4%) on 7 AugListed 613 days
Opportunity summary
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About
An opportunity to purchase a freehold property consisting of a two bedroom apartment and a commercial unit which is currently let as a successful Café located in the heart of Milford village current income £25,200 per annum.
The accommodation comprises (all measurements are approximate): Access to the living accommodation (Lee Way Cottage) is via the side of the property, with front door leading to: Entrance hall with ceiling light point and staircase leading to the first floor landing, open doorway leading to: Kitchen - 9'11" x 5'5" (3.02m x 1.65m) maximum measurements UPVC double glazed window, single bowl single drainer stainless steel mixer tap sink unit set in a roll top work surface with a range of base cupboard and drawer units, matching eye level cupboard units, integrated oven with four ring gas hob and extractor, space and plumbing for washing machine, central heating radiator, ceiling light point From the first floor landing, doors leading to: Sitting/dining room - 16'9" x 15'7" (5.1m x 4.75m) Two UPVC double glazed windows overlooking the rear aspect, ceiling light point, central heating radiator, TV aerial point, BT phone point Bedroom two - 11'1" x 10'3" (3.38m x 3.12m) UPVC double glazed window overlooking the rear aspect, ceiling light points, central heating radiator, built in double wardrobe with a single wardrobe housing the gas fired central heating boiler From the first floor hall landing, a second staircase leads to the second floor landing with ceiling light point, and doors leading to: Bedroom one - 15'7" x 12'11" (4.75m x 3.94m) UPVC double glazed window overlooking the rear, ceiling light point, central heating radiator, TV aerial point Bathroom - 10'5" x 5'1" (3.18m x 1.55m) UPVC obscure double glazed window, bath with overhead shower and shower screen, wc, vanity wash hand basin, part tiled walls, central heating radiator, ceiling light point The shop - 26'7" x 15'6" (8.1m x 4.72m) Currently run as a successful Cafe with a glazed frontage and central front door leading to the seating area with a coffee station and kitchen area to the rear, ceiling light points, central heating radiators and doors leading to: Rear lobby With an external door giving rear outside access, ceiling light point and door leading to: Ground floor WC with wc, wash hand basin, UPVC double glazed window and ceiling light point store/pot wash room with ceiling light point, UPVC double glazed window, work surface with single bowl single drainer sink unit and mixer tap agents note: The cafe is on the remainder of a 10 year lease dated 2024 Tenure - Freehold EPC rating - 65D Council tax band - N/A Directional note - From Milford-on-Sea village green in the village centre, proceed in an easterly direction along the High Street (signposted to Keyhaven and Hurst Castle), and after a short distance, 106 High Street is on your right hand side Milford and the surrounding area Milford on Sea is a thriving coastal village with a comprehensive range of restaurants, pubs and cafes plus a good range of gift and local shops including a greengrocers, butchers and two general stores, plus a medical centre and dental surgery, based around the village green.
The Village Green is home to several events during the year, including an Arts & Music Festival, May Fair, Dog Show and Christmas Carol Service, with the Community Centre and the four village churches running busy programmes throughout the year.
Walks can be enjoyed along the Coastal Path towards Barton-on-Sea and Lymington, with stunning views towards the Isle of Wight and the Needles and westwards to Christchurch Bay, Hengistbury Head and the Purbeck Hills beyond or through sheltered woodland in the Milford-on-Sea Pleasure Grounds and Studland Common, both local Nature Reserves, or around Sturt Pond and along Hurst Shingle Bank to Hurst Castle which dates back to Tudor times.
The New Forest National Park is a short drive away, The New Forest became a national park in 2005 and was once a royal hunting ground for William the Conqueror.
It covers an area of 566 square kilometres and is made up of vast tracts of unspoilt woodland, heathland and river valleys where deer, ponies and cattle continue to roam free in its ancient heaths and woodland.
Clear rivers and shady groves provide tranquillity and a car-free haven for walking, cycling and horse riding.
The towns of Lymington and New Milton are both approximately 3 miles away, with the larger shopping centres of Bournemouth and Southampton approximately equi-distant, about 18 miles away.
National Rail Stations at New Milton and Brockenhurst provide a fast service to London Waterloo, with Bournemouth and Southampton airports easily accessed for domestic and international flights.
And are two excellent websites providing a wealth of local information and news about the village Stamp Duty charges and online calculator-
Value & comps
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
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About 106, High Street, Lymington
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