LOCATION
The premises are located in a prime position in Andover High Street close to HSBC, Lloyds, Millets, Poundland, Superdrug & W H Smith.
The premises are well served by several nearby public car parks and Andover High Street hosts weekly markets on Thursdays and Saturdays together with monthly farmers’ markets on Sundays.
DESCRIPTION
Prime, ground floor, retail/office unit in 4-storey grade II listed building with air-conditioning, lighting and WCs.
SERVICES
Mains electricity, water and sewerage.
ACCOMMODATION
| |
m2 |
[ft2] |
|
| Main Retail / Office |
75.6 |
[814] |
|
| Office |
6.7 |
[72] |
|
| Office |
15.6 |
[168] |
|
| WCs |
|
|
|
| Office |
20.9 |
[225] |
|
| TOTAL |
118.8 |
[1,279] |
|
Approximate net internal measurements in accordance with the RICS Code of Measuring Practice 6th Edition.
RATING ASSESSMENT
| Rateable Value from 01/04/2023 |
£19,750.00 |
| Business Rates Payable 2024/25* |
£9,855.25 |
* This figure could be reduced by 75% in the 2024/25 rating year if the occupier qualifies for the relief scheme for retail, hospitality and leisure properties up to a maximum of £110,000 per business.
BID [BUSINESS IMPROVEMENT DISTRICT]
The premises are within a BID and are subject to a charge of 2% of the Rateable Value per year ie £395 pa.
GRANT
A £1,200 grant may be available from Test Valley Borough Council - search TVBC Independent Retailer Grant.
ENERGY PERFORMANCE CERTIFICATE
C65 - Valid until 23/11/2032.
LEASING BUSINESS PREMISES
The Code for Leasing Business Premises, England and Wales 2020 is available to download at: www.rics.org/globalassets/code-for-leasing_ps-version_feb-2020.pdf
TENURE
Freehold.
GROUND FLOOR
Vacant
UPPER FLOORS
Converted to provide 7 residential units and let to LAR Property Ltd on a 150 year, effectively FRI, lease from 09 June 2015 at a peppercorn rent if demanded.
TERMS
EITHER GROUND FLOOR TO LET
On a new FRI lease for a period to be agreed at a commencing rent of £25,000 pax.
OR WHOLE BUILDING FOR SALE
Price £300,000.
VAT is not currently charged.
LEGAL COSTS
Each party to bear their own legal costs.
Ref: 3029C
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