Unit 5, The Axis Centre is a self contained office building within a landscaped setting presented in a very good condition.
The Axis Centre is situated on the edge of Leatherhead approximately 1 mile from the town centre close to the junction of Cleeve Road and the A245 Cobham to Leatherhead Road. The M25 (junction 9) is within 1 mile providing excellent access to the national motorway network. Leatherhead railway station is within walking distance providing frequent services to Central London.
Unit 5, The Axis Centre is a self contained office building within a landscaped setting presented in a very good condition.Amenities Extremely well fitted offices Very good condition Landscaped setting Kitchenette and toilet facilities Air conditioning to most areas and gas fired central heating Suspended ceilings Category II lighting Double glazing Three compartment perimeter trunking 4 car parking spaces Floor Areas
We note the following approximate net internal floor areas:
| First Floor | 769 sq ft | 71.45 sq m |
| Ground Floor | 750 sq ft | 69.75 sq m |
| Total | 1,520 sq ft | 141.20 sq m |
The gross internal area is approximately 1,800 sq ft (167.13 sq m).Price
The building is available by way of a freehold purchase at a price of £515,000.Business Rates
Please note that there are three rateable values for the property totalling £31,250 (£29,25 for the building and £1,000 x 2 for the 2 blocks of parking). Further information from the agent.
High Yielding Reversionary Office Investment With Underlying Redevelopment Potential
The property is located on the south side of Central Park Avenue, directly north of the Plymouth Central Railway Station and to the south of Central Park. The City Centre and University of Plymouth’s main campus are five minutes’ walk to the south. The property is highly visible to passing traffic with frontage to Pennycomequick roundabout, which forms part of the strategic road network and is a major gateway into the City Centre from the north. Plymouth Railway Station is the focus of a major masterplan redevelopment to provide enhanced station passenger facilities including new entrance and car parking as well as hotel, retail, restaurant and leisure uses, apartments, student accommodation and University faculty space / offices. The first phase comprising a 10,000 sq m landmark University faculty block together with new station entrance, multi-storey car park and public realm is expected to be delivered in time for the City’s international Mayflower 400 celebrations in 2020.
Excellent location adjacent to Plymouth Railway Station. Four storey building fronting Central Park Avenue totalling 53,652 sq ft. Fully let to strong covenant, University of Plymouth, with 7 years unexpired. Total rent of £336,066 per annum reflecting low base of £6.26 psf. Landlord early surrender option to redevelop part from 1 April 2020. Alternative use / redevelopment potential. 1954 Act security of tenure provisions excluded. Offers are sought in excess of £3,500,000 (Three Million Five Hundred Thousand Pounds) subject to contract. Net initial yield of 9.02%, after allowing for purchaser’s costs of 6.50%. Capital value of only £65 psf overall.