LOCATION
The premises are located in a prominet location overlooking the town's inner ring road within a few minutes walk of the town centre and close to several town centre car parks.
DESCRIPTION
A prestigious, three-storey, office building with two excellent tenants in a prominent location overlooking the town's inner ring road with self-contained but interconnected east & west wings, suspended ceilings with recessed lighting, gas-fired central heating, three compartment skirting and floor trunking, carpets, accessible female & male cloakrooms, passenger lift and 11 parking spaces.charged].
SERVICES
Mains electricity, gas, water and sewerage.
ACCOMMODATION
| |
|
EAST WING |
|
|
|
|
WEST WING |
| |
m2 |
[ft2] |
|
|
m2 |
|
[ft2] |
| Ground Floor |
38.5 |
[414] |
|
|
168.9 |
|
[1,818] |
| First Floor |
60.9 |
[655] |
|
|
152.5 |
|
[1,641] |
| Second Floor |
75.0 |
[807] |
|
|
151.8 |
|
[1,634] |
| TOTALS |
174.4 |
[1,876]
|
|
|
[473.2] |
|
[5,093] |
RATING ASSESSMENTS
| East Wing |
£19,000 |
| West Wing |
£53,000 |
ENERGY PERFORMANCE CERTIFICATE
| East Wing |
|
C61 |
|
|
18/07/2011 |
|
| West Wing |
Ground Floor |
C56 |
|
|
16/03/2012 |
|
| |
First Floor |
C60 |
|
|
18/07/2011 |
|
| |
Second Floor |
|
|
|
|
|
BUSINESS IMPROVEMENT DISTRICT
The premises are within a BID and are subject to a charge of 2% of the Rateable Value per year payable by the tenants.
LEASES
East Wing
Let to Beck Randall & Carpenter Ltd [Company Number 03179560] on a 10 year fRO lease from 13 June 2012 subject to 5 yearly non-downward rent reviews, tenant option to break on 13 June 2017 with noless than 6 months’ prior written notice and at a current rent of £19,500 pax + VAT.
Beck Randall & Carpenter Ltd t/a BRC accountants are a firm of Chartered Accountants originally established in 1969 as the Andover Office of a regional firm and the Accounts for the Year Ending 30 April 2018 show Net Assets of £255,515. The next Accounting Period was extended to 31 October 2019.
West Wing
Let to Be Wiser Insurance Services Ltd [Company Number 6097813] on a 15 year FRI lease from 21 February 2014 subject to 5 yearly non-downward RPI rent reviews, tenant options to break at 20 February 2019 and 20 February 2024 with no less than 6 months’ prior written notice. And at a current rent of £49,295 pax + VAT.
Be Wiser Insurance Services Ltd is an Insurance Broker and the Accounts for the Year Ending 31 May 2019 show a Turnover of £21,816,000 and Net Assets of £1,318,000.
PRICE
£1,000.000 + VAT which will show a purchaser a net initial yield of about 6.51% after deducting purchaser’s costs of 1.75% and SDLT.
LEGAL COSTS
Each party to bear their own legal costs.
Ref: 3214C
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