South Coast Modern Freehold Office
Petersfield is an attractive market town strategically located on the A3 London to Portsmouth trunk road, approximately 18 miles to the north of Portsmouth and 25 miles to the south of Guildford. Road communications are excellent and in addition Petersfield benefits from a fast frequent train service to London Waterloo (1 hour 10 minutes), Portsmouth (26 minutes) and the South Coast.
Petersfield has a catchment population of 163,000 (2017) which is projected to increase. The social class breakdown of the area calculates that over 70% of the working population are with classes 1 through 5 being the senior and skilled trades (Experion).
A3 - 0.5 mile
A27(M27) - Junction 5 - 12 miles
Rail - London Waterloo 1 hour 10 minute
The property is located within the popular and established Petersfield Business Park which is situated on the western side of the town on Bedford Road, providing quick access onto the A3 and a short walking distance to the town centre and railway station.
Other occupiers in the area include L'Oreal (Whitman Laboratories), Colt International, Bellsure Group amongst others.
We understand that the premises benefit from Class A1/ A2/ A3/ A4/ A5 / B1(a) Office / B1(c) Light Industrial / B8 Storage and Distribution use within the Use Classes Order 1987 (as amended).
The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
The property comprises a single let office building of approximately 26,400 sqft (2,452.63 sqm) net internal area over two floors. The building has been comprehensively refurbished in the last 6 months at a cost of approximately £3.0m.
The property is constructed by way of a steel portal frame with concrete floors under a new pitched roof with external elevations in a mixture of brick and glass. The ground floor has an impressive full height glazed entrance lobby giving access to open plan offices beyond. There is a large breakout/kitchen area with exposed services, gym studio and various meeting rooms.
At the first floor there is a further large open plan area and also at this level is a boardroom, training rooms and further meeting rooms.
Internally the building benefits from full access raised flooring, suspended ceilings in main office areas with LED lighting and PIR movement sensors, and Cat 6 cabling. The building is fully air conditioned with a new ducted Mitsubishi electric heat recovery VRF system together with a Building Management System.
Secure car parking is laid out for 100 cars providing a parking ratio of 1:264 sq ft
Level Desc. sq m sq ft
Ground Office 1,265.50 13,623
First Offices 1,187.13 12,777
Total NIA: 2,452.63 26,400
Business Rates / Council Tax Band
Rateable Value (2017): £10,000.
As the RV is below £12,000 we believe 100% small business rate relief is possible.
Available in the dataroom.
For dataroom access please use the following link: https://www.flude.com/athena-house/home
Each party to bear their own legal costs incurred.
Flude Commercial are instructed to seek offers in excess of £5,500,000 which equates to a net initial yield of 6.51%
( Agency Pilot Software Ref: 3436 )