Retail Showroom/industrial investment for sale
The historic and affluent town of Farnham is located on the Surrey/Hampshire border which is within the London Commuter belt. The town is located approximately 10 miles (16.1 km) west of Guildford, 17 miles (11.3 km) east of Basingstoke, 27 miles (43.5 km) north east of Winchester and 43 miles (69.2 km) south west of Central London. Farnham benefits from excellent road communications via the Blackwater Valley Relief Road (A331) which links with Junction 4 of the M3 motorway, approximately 8 miles (12.8 km) to the north. Junction 12 of the M25 (London Orbital) motorway is within easy reach via the A31 and the A3 approximately 20 miles (32.2 km) to the north east. Farnham railway station has regular services into London Waterloo, with a fastest journey time of 53 minutes. Gatwick Airport is located 43 miles (69.2 km) to the east of the town; Heathrow International Airport is some 29 miles (46.7 km) to the north whilst Southampton Airport is 37 miles (59.5 km) to the south east.
Unit 1 comprises a corner unit currently trading as a Honda Motorcycle Franchise with a substantial showroom, workshop, mezzanine (retail and storage space), ancillary office’s along
with extensive forecourt parking and delivery access to the side.
The unit was comprehensively refurbished in 2006 to include a new metal clad roof and elevations, new loading doors, installation of lighting/heating, redecoration of internal blockwork, painting of the floor and provision of new toilet facilities.
The approximate gross internal floor areas are as follows:-
| Ground Floor | 7,222 sq.ft. | 671 sq.m. |
| Mezzanine | 1,525 sq.ft | 142 sq.m. |
| Total | 8,747 sq.ft | 813 sq.m. |
The unit has a Sui Generis planning use - reference number WA/2006/1878 - Change of use from light industrial to motorcycle showroom with ancillary workshop, office and parts store.
Unit 1 is held on a long lease which commenced on the 25 December 1986. The lease was granted by Waverley Borough Council for a period of 150 years (119 years unexpired). The Ground Rent is reviewed at 5 yearly intervals to 3.3% of the combined rack rental value of Plots 9 and 9A having regard to the extent and use of the buildings on both plots at the time of review. The current ground rent is £1,994.10 pa. Further details on application.
Unit 1 is let to Bike Nation MCS Ltd who are holding over on a fully repairing and insuring 10 year lease that expired on the 30th November 2016 paying £72,500pa exclusive.
The lease has the protection of the Landlord and Tenant Act 1954 therefore the tenant has security of tenure.
The tenant has served a section 26 Notice requesting a new lease (the terms of which can be made available on request). Our client has confirmed a willingness to grant a new lease but
has rejected the terms proposed by the tenant. The section 26 Notice was served on 1 June 2016 and requested that the new tenancy begins on the 31 May 2017.
Please note that the Seller, Adiwell Ltd acting by its administrators Sarah Rayment and Kerry Bailey of BDO LLP, will not be providing Property Information and Fixtures and Fittings forms, nor will replies to CPSE Enquiries be given. The Administrators sell with no personal knowledge of the Property, and without warranty or representation regardless of whether the seller company (or agents thereof) made representations prior to the Administration.
We are instructed to seek offers in the region of £1,000,000 (One Million Pounds) subject to contract, the occupational lease and exclusive of VAT. A purchase at this level would
reflect a Net Initial Yield of 6.65% and an approximate capital value of £114 per sq ft (overall), after purchase costs of 5.75%.
Based on the estimated rental uplift, the yield improves to circa 8.29%.
Office Headquarters on site of 4.8 acres
Bracknell is strategically located in the heart of the Thames Valley, approximately 32 miles west of Central London, 9 miles south of Maidenhead and 11 miles south east of Reading. The town is approximately 4.5 miles from M4 (Junction 10) and 6.5 miles from M3 (Junction 3) motorways with direct access via the A329 (M) and A322 dual carriageways respectively. The M25 motorway is approximately 12 miles to the east and provides access to Heathrow and Gatwick airports, as well as the wider motorway network. London Heathrow airport is situated approximately 20 miles east of Bracknell and can be accessed directly via the M4 or the M3 motorways. By rail, Bracknell mainline railway station provides a regular direct service to London Waterloo, with an approximate fastest journey time of 1 hour. Reading mainline station, a major UK rail hub, is just 18 minutes away by train and provides direct services into London Paddington as well as the Midlands, Wales and the West of England. The town is home to the headquarters of over 40 international blue chip companies that have been attracted by the highly skilled workforce and excellent transport links including Waitrose, 3M, Dell, Fujitsu, Cable & Wireless and Hewlett Packard.
The Panasonic Building is prominently situated on Willoughby Road, close to the A329 Berkshire Way, the main arterial route for Bracknell. The town centre and railway station are a short walk to the north east of the property. The immediate surrounding area is a mix of uses including offices, industrial and residential.
The Panasonic Building is a three storey office building completed in 1988, totalling approximately 86,025 sq ft NIA. The building stands on a site extending to approximately 4.8 acres. There are 389 car parking spaces in total.
| Ground Floor | 28,284 sq.ft. | 2,628 sq.m. |
| First Floor | 28,223 sq.ft. | 2,622 sq.m. |
| Second Floor | 29,518 sq.ft. | 2,742 sq.m. |
| TOTAL | 86,025 sq.ft. | 7,992 sq.m. |
| Basement | 29,431 sq.ft. | 3,734 sq.m. |
The Panasonic Building offers a purchaser an opporunity to transform the existing building into one of the best HQ's in Bracknell and the local M4 region.
The building and site are suitable for intensification of development including alternative uses, subject to obtaining the necessary planning consents. Such uses could include residential, warehouse or industrial use.
The property is being sold freehold with vacant possession. Full title information is available on request. Offers are invited for the freehold interest of the property in excess of £8,500,000.
David Bowen @ Wadham & Isherwood 01276 682501 email@example.com
Edward Smith @ Strutt & Parker 020 7629 7282 firstname.lastname@example.org
Rare Freehold Opportunity
Mill House is located towards the end of Hamm Moor Lane, within close proximity to Weybridge Business Park. Weybridge town centre is approximately 1 mile away where there is a variety of shops, cafes and restaurants. Mill House is located 2 miles from J11 of the M25 offering access to the M25, with further access to the national motorway network. Heathrow and Gatwick airports are 14 and 28 miles respectively. Both Addlestone and Weybridge mainline railway stations are just a short distance from the premises.
Mill House is a self contained mid terrace office building located in Brimson Mews which is a gated and landscaped office scheme located at the end of Hamm Moor Lane.
The premises comprise ground and first floor open plan office accommodation, with toilet facilities on both floors. There is a kitchen area on the ground floor and the first floor benefits from a balcony area over looking the River Wey.
Approximate measurements on a GIA basis.Floor sq ft sq m Ground Floor 773 72 First Floor 773 72 Total 1,546 144
ViewingsFor more information or viewings please contact the sole agents Hurst Warne.
Other uses subject to planning.
323 is located on the southern side of Fleet Road in an edge of prime location opposite the Gurkha Square car park. The unit benefits from its own car park which is accessed via Albert Street. This particular area of Fleet Road is a mix of retail, restaurants and pubs and is less than 250 metres from the entrance of the Hart Shopping Centre. Both the Hart Shopping Centre and Fleet Road are populated by major national retail chains such as WH Smith, Marks and Spencer Food, Boots, Argos and Waitrose attracting shoppers to the town. Fleet is situated in Hampshire, 35 miles South West of London. Fleet is located less than 3 miles from Junction 4a of the M3 and Fleet rail station offers direct services to London Waterloo.
A rarely available retail freehold, 323 Fleet Road is a highly prominent brick constructed building over three storeys including ancillary storage in the roof. There is additional storage facilities within a single storey shipping container attached to the rear. Furthermore there is an office to the rear of the building providing an additional rental opportunity to the purchaser or alternatively it can be made available for own occupation. Both the retail element and rear ground floor offices have their own kitchen and WC's.
AmenitiesEstablished and visible retail location Full height window to first floor, ideal for showroom Rear parking Directly opposite public car park WC's Kitchen Ancillary storage in the roof and externally within storage container
| Frontage to Fleet Road | 18.4 ft | 5.62 m |
| Ground floor maximum internal width | 17.8 ft | 5.42 m |
| Ground floor shop depth (maximum) | 57 ft | 17.37 m |
| Area of retail including first floor and second floor storage | 1,637 sq ft | 152.08 sq m |
| Area of ground floor offices | 479 sq ft | 44.48 sq m |
| Area of external storage | 210 sq ft | 19.54 sq m |
| Total area | 2,326 sq ft | 216.1 sq m |
Viewing and Additional information
323 Fleet Road is available to buy freehold with vacant possession, further details are available through the sole selling agent Hurst Warne 01252 816061.
Freehold workshop currently for auto trade use
The unit is located on the well established industrial estate in Abbot Close. Access is via the A318 (Oyster Lane). Byfleet and New Haw mainline station is within easy walking distance, providing a frequent service to London (Waterloo). Junction 10 of the M25 is approximately 3 miles distant, via the A3 at Cobham.
Unit 4 comprises the following approximate gross internal areas:-Main workshop 4,700 437 Mezzanine store 1,300 121 1st Floor office 450 42 Showroom/trade counter area 420 39 Total 6,870 639
SpecificationThe unit is currently fitted out as an automotive workshop, with a spray booth, 3 two-post car lifts, and an air ring main with extractor fans for each ramp. Any required items of plant can be made available, subject to negotiation. The unit benefits from a roller shutter door of 8'9" width, and height to eaves of approximately 11'4" (21'3" to apex). There is parking to the front of the property for up to 12 vehicles.
TermsAvailable by way of a freehold sale. NB: Part of the ground floor (approx 630 sq ft) is currently let at £650 pcm. This can be terminated on a rolling basis should full vacant possession be required.
Strictly by appointment via joint sole agents:-
Hurst Warne - 01483 723344
Franklin Commercial - 0845 390 3333
Residential development opportunity (subject to planning)
The site is situated adjacent to Fleet town centre within an established residential area. All the town centre amenities such as banks, restaurants and shops including major retail chains; Waitrose, Boots and WH Smith are a short walk from the site. Fleet is located 3 1/2 miles from junction 4a of the M3 motorway. Fleet main line station is about a 15 minute walk from the site and provides regular services to London Waterloo, the quickest train taking approximately 40 minutes.
The site currently consists of a former Red Cross centre comprising two detached buildings being a single story meeting hall and a separate garage. The site extends to approximately 0.222 acres.
A Planning application has been submitted ( planning ref 16/00797/FUL) , to Hart District Council, for the demolition of the existing Red Cross premises and together with a new residential development comprising 5 houses being as follows;2 no. semi detached 2-bed (3 person) houses. 3 no. terraced 2-bed (3 person) houses.
The proposed accomodation submitted with the planning permission is as follows;Unit 1 Total GIA =70 sq m Unit 2 Total GIA =70 sq m Unit 3 Total GIA =70 sq m Unit 4 Total GIA = 70 sq m Unit 5 Total GIA = 70 sq m
Parking; Total 10 spaces @ 2 spaces per household.
Planning permission is expected to be granted for 3 no houses as private sale and 2 no houses as shared-ownership sale.
We understand that the main supplies of gas, electricity, water and drainage are available to the site, but no investigation have been made to the suitability or extent of these supplies for future development of the site.
Offers invited for freehold purchase of site subject to contract and planning consent.
For further information please contact Peter Richards at our Hurst Warne Fleet office 01252 816061.
The premises are located in Vincent Lane, Dorking is close to the town centre and with direct access to both the A24 and A25, and approximately 5 miles from Junction 9 of the M25 (via A24). Dorking town centre is within a 5 minute walk and its mainline station provides frequent services to London Bridge, Victoria and Waterloo (approximately 45 minutes).
The premises comprise a single storey workshop of steel truss framework with mainly rendered block elevations under a fully lined pitched roof.
The premises have the benefit of a concrete yard/parking area to the front of the premises, with side access to a rear yard/storage area.
(Measured on a gross internal basis)
| Workshop | 8,995 sq ft | |
| Mezzanine | 492 sq ft | |
| Total | 9,487 sq ft | Site Area appromimately 0.45 acres |
The premises are available on a freehold basis subject to the following tenancy.
Tenant: Henry Ling Limited / Company Registered No: 244715
Terms: The premises are let for a term of 6 years from 4th April 2015, at a rental of £59,500 PAX subject to a rent review on 4th April 2018 to an RPI multiplier. There is a tenant's option to break on 4th April 2018 subject to 6 months prior written notice.
An Experian credit assessment rates the tenant as "very low risk" and copies of the report are available upon request.
The current tenants have been in occupation for many years and have additional accommodation to the side and rear of the premises. We understand that new machinery has been ordered for the site which indicates an intention to remain at the site for the foreseeable future.
The Dorking industrial market is extremely tight with virtually no accommodation currently available. The current passing rent is £6.27 per sq ft gross internal and we believe that the current open market rental value is in excess of £8 per sq ft.
We believe that this site offers scope for redevelopment in the future, with recent developments close to the subject premises including a new Lidl supermarket and a residential development.
£900,000 plus VAT. This provides an investor a net initial yield of 6.25% and a realistic reversionary yield of 8%.
Each party to be responsible for their own legal costs.