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AGENT'S DETAILS


Industrial Investment For Sale - Long Leasehold Interest

For sale: £675,000.00|20280 Sq Ft|Warehouse, Offices, Business park, Light industrial, General Industrial, Industrial Park, Storage, Industrial

PROPERTY DETAILS

FOR SALE£675,000.00
SIZE20280 Sq Ft
ADDRESS Unit 9, North Way, Andover, SP10 5AZ
TYPEWarehouse, Offices, Business park, Light industrial, General Industrial, Industrial Park, Storage, Industrial
TENUREInvestment Opportunity, For Sale Leasehold
POSTED ON17th February 2020

DESCRIPTION

Offers are invited for the long leasehold interest subject to the existing tenancy agreement with a guide price of £675,000 excl VAT.

The premises are located in North Way on Walworth Business Park which lies on the eastern outskirts of Andover next to the ring-road which leads onto the A303 dual-carriageway and then north-eastwards to the M3.

The property comprises a refurbished, detached, factory/warehouse building  with high quality integral offices and staffing facilities on a 0.40 hectare [1 acre] site.

The unit has the following features:

- 1 Acre (0.40 Hectares) site
- Integral offices
- Lighting throughout
- 3 loading doors
- WCs
- Parking to front
- Yard to side and rear
- EPC rating E
- Business Rates £77,000 (prospective purchasers should contact Test Valley Council rates department to confirm)

There is an existing tenant agreement in place to Precision Fabrications Andover Limited. The passing rent is £50,000 pa. The lease term expires in October 2023 with fixed rental increases as follows:

- Nov 2019: £60,000 pa
- Nov 2020: £70,000 pa
- Nov 2021: £80,000 pa
- Nov 2022: £88,000 pa

The tenant is also responsible for ground rent payment in addition to the rent structure detailed above.

We understand the property has the benefit of Light Industrial and Warehouse consent (interested parties should contact Test Valley Borough Council planning department to confirm use prior to contractual commitment)

LOCATION

Location: Unit 9, North Way, Andover, SP10 5AZ

Andover (1.4 miles)

Whitchurch (Hants) (5.4 miles)

Grateley (6.9 miles)

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