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58A-58C Normandy St

6,000 SF 100% Leased Retail Building Alton GU34 1DE £850,000 (£142/SF)

Investment Highlights

  • Prime location
  • Good transport links
  • Close proximity to local amenities and shops

Executive Summary

Alton Picture House opened on 18th December 1912. It had a semi-circular brick façade which was faced in Bath Stone. The proscenium was described as being ‘highly ornamental and in a very attractive design’. It was closed in 1937 and re-designed by Portsmouth based architect Bates White. Plans had been drawn by architect Robin A. Thomas in an Art Deco style. It re-opened on 18th June 1937. A balcony had been added which increased the seating capacity. The Palace Cinema closed as a cinema on 28th November 1984 and the building then began use as a bingo club, ballroom & disco with some wrestling matches too, plus occasional films at holiday times. In 2003 a second screen seating 60, was added in some unused space in the former rear stalls area. Bingo continued in the former front stalls. The current layout is arranged as a smaller Screen 2 on the 'Upper' Ground Floor, projection room, bar, w.c’s ticket office and foyer. At First Floor there is the main screen 1, w.c’s foyer with access to projection room / roof. There is an independent 1 bedroom flat and lock up shop (subject to pre-existing tenancy agreements).
Hampshire Lettings Company will take a new effective fully repairing and insuring lease n 58A Normandy Street for a term to expire 31st December, 2031 at a fixed rent, to be agreed. Hampshire Lettings Company is an independent company which specialises exclusively in residential lettings in Alton and the surrounding area. The 1 bedroom flat is let to a private individual on an AST agreement at £6,000 per annum.

Property Facts

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Movie Theatre
Building Size
6,000 SF
Year Built
1912
Price
£850,000
Price Per SF
£142
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
0.99
Land Acres
0.14 AC

Nearby Major Retailers

Waitrose & Partners
Caffe Nero
Starbucks
Sainsbury's
Santander
Barclays
National Westminster Bank Plc
Costa Coffee
Hsbc Bank Plc
Prezzo
  • Listing ID: 27713593

  • Date on Market: 09/02/2023

  • Last Updated:

  • Address: 58A-58C Normandy St, Alton GU34 1DE

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