Mixed-use investment sold in Petersfield

New Way House at 1-4 St Peter’s Road, Petersfield, Hampshire, has been acquired by a private buyer.
November 30, 2023
A freehold building investment comprising a ground floor café and two first-floor flats in a Hampshire market town has been sold by property consultancy Vail Williams.

Acting on behalf private investment company, New Way House at 1-4 St Peter’s Road, Petersfield, was acquired by a private buyer.

Ben Duly, a senior surveyor at Vail Williams, said: “We were instructed by the owners to seek offers of around £785,000 and there were a number of interested parties. A purchase at this level would reflect a net initial yield of 6.47%.

“New Way House was purchased for close to the asking price; the ground floor is leased to Josie’s, which has four other shops across Hampshire in Bishop’s Waltham, Winchester, Romsey and Chandler’s Ford, and there are two flats above generating income through rent as well.”

Josie’s, a family-run group of independent coffee shops serving speciality coffee, tea, smoothies and all-day breakfast and brunch, and the residential tenants are unaffected by the freehold sale.