.......................................... specialising in commercial property since 1981

16 BRIDGE STREET, ANDOVER, SP10 1BJ & 16A BRIDGE STREET, ANDOVER, SP10 1BH

LOCATION

The premises are located in a prominent town centre position fronting Bridge Street but with rear access from Waterloo Court, close to a number of multiple and independent retailers including Iceland, NatWest & Wilko and close to several town centre car parks.

DESCRIPTION

Freehold Restaurant Investment & Residential Development Opportunity

The premises comprise two distinct portions:

16 Bridge Street comprises office accommodation totalling 375.6 m2 [4,044 ft2] with courtyard and rear car park for 14 cars together with planning permission for conversion to 6 flats.

16A Bridge Street comprises a single-storey restaurant of 131.4 m2 [1,414 ft2] currently producing £26,000 pax.

SERVICES

Mains electricity, gas, water and sewerage.

ACCOMMODATION

  m2 [ft2]
16 BRIDGE STREET [OFFICES]    
     
Ground Floor 150.9 [1,623]
First Floor 171.4 [1,846]
Second Floor 53.3 [575]
     
TOTAL 375.6 [4,044]
     
16A BRIDGE STREET [RESTAURANT]    
     
Restaurant 131.4 [1,414]
     
TOTAL 131.4 [1,414]

RATING ASSESSMENTS

16 BRIDGE STREET [OFFICES]  
Rateable Value from 01/04/2017 £26,750.00
   
16A BRIDGE STREET [RESTAURANT]  
Rateable Value from 01/04/2017 £27,500.00

BUSINESS IMPROVEMENT DISTRICT [BID]

The premises are located within a BID and are subject to a charge of 2% of the RAteable Value per year.

ENERGY PERFORMANCE CERTIFICATES

16 BRIDGE STREET [OFFICES]  
Rating - D86 14/11/2020  
   
16A BRIDGE STREET [RESTAURANT]  
Rating -D89 04/04/2012

TENURE

Freehold

LEASES

16 Bridge Street [Offices] will be sold with vacant possession.

16A Bridge Street [Restaurant] is let to Ramazan Bilgic on the residue of a 20 year FRI lease from 01 June 2015 subject to 5 yearly non-downward rent reviews and at a current rent of £26,000 pax.

PLANNING

Full details of the Planning Permissions are available at:

https://www.testvalley.gov.uk/planning-and-building/viewplanningapplicationsonline

A)  Planning Permission was granted under Application No: 19/02335/PDON on 06 November 2019 for Prior Approval notification for change of use under Class O - Change use of offices to 4 flats [1 X 3 bedroomed, 2 x 2 bedroomed & 1 x 1 bedroomed].

There may be scope to amend this planning consent to provide 6 flats [1 X 3 bedroomed & 5 x 1 bedroomed] and possibly add an additional floor to the modern wing providing an additional 2 flats [2 x 1 bedroomed].

B)   Planning Permission was granted under Application No: 20/01056/PDON on 24 July 2020 for Prior Approval notification for change of use under Class O - Change use of offices to 2 flats. 2 x 2bedroomed [one with study].

We understand that it should be possible to satisfy Regulation 75 of the Conservation of Habitats and Species Regulations 2017 on payment of a figure in the region of £40,000.

TERMS

Price £775,000 subject to contract.

The Seller has not elected to charge VAT.

LEGAL COSTS

Each party to bear their own legal costs.

Ref: 4227C

 

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