LOCATION
The premises are located in London Street which is part of Andover's main office and professional sector, alongside a number of Accountants, Estate Agents and Solicitors yet only two minutes' walk from the town's covered Chantry Shopping Centre and close to several town centre car parks.
DESCRIPTION
Vacant three-storey office/retail building with planning permission to convert upper floors into 3 one-bedroomed flats.
SERVICES
Mains electricity, water and sewerage.
ACCOMMODATION
| |
m2 |
[ft2] |
| GROUND FLOOR SHOP/OFFICE |
|
|
| Retail/Office |
72.0 |
[775] |
| Cupboard |
0.7 |
[8] |
| Kitchenette |
3.7 |
[40] |
| Corridor & WC |
|
|
| GROUND FLOOR TOTAL |
76.4 |
[823] |
| |
|
|
| POTENTIAL RESIDENTIAL PORTION |
|
|
| GROUND FLOOR |
|
|
| Rear Hall for Staircase |
19.5 |
[210] |
| FIRST FLOOR |
|
|
| 4 Rooms & Kitchen |
78.7 |
[847] |
| Landing, Lobby & WC |
|
|
| SECOND FLOOR |
|
|
| 2 Rooms |
47.3 |
[509] |
| Landing |
|
|
| RESIDENTIAL PORTION TOTAL |
145.5 |
[1,566] |
ENERGY PERFORMANCE CERTIFICATE
C74 - valid until 18/08/2026.
RATING ASSESSMENTS
|
GROUND FLOOR
|
|
| Rateable Value from 01/04/2017 |
£21,750.00 |
| Business Rates Payable 2022/23* |
£5,426.63 |
| |
|
| UPPER FLOORS |
|
| Rateable Value from 01/04/2017 |
£6,900.00 |
| Business Rates Payable 2022/23* |
£1,721.55 |
| With Small Business Rate Relief 2022/23 |
£0.00 |
* These figures includes the 50% reduction for the 2022/23 rating year set out in the relief scheme for retail, hospitality and leisure properties up to a maximum of £110,000 per business.
PLANNING
Planning permission granted on 22 July 2014 [14/00633/FULLN] for conversion of 2 upper floors to 3 one-bedroomed flats, division of ground floor into 2 Class A2 financial and professional services units, provision of door at rear and alterations to existing front elevation. The ground floor has remained as a single unit and minimal works have been undertaken to implement the planning consent in respect of the upper floors. A Section 106 Agreement has provisions for payments towards various local facilities in the sum of £12,647 as at June 2014 but index linked to RPI.
Planning permission granted on 07 December 2017 [17/02239/FULLN] for installation of timber framed double glazed window to rear elevation This would be at first floor level but has not been implemented.
GRANT
A £1,200 grant may be available from Test Valley Borough Council - search TVBC Independent Retailer Grant.
TERMS
EITHER
WHOLE BUILDING FOR SALE FREEHOLD
Price £365,000 + VAT.
OR
GROUND FLOOR TO LET
On a new FRI lease for a period to be agreed at a commencing rent of £20,000 pax + VAT.
LEGAL COSTS
Each party to bear their own legal costs.
Ref: 4422C
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