LOCATION
The premises are located on the western side of Andover High Street overlooking Andover Market Place and close to Barclays, Ladbrokes, NatWest, Peacocks, Poundland and several town centre car parks.
DESCRIPTION
Prime three-storey banking premises.
SERVICES
Mains electricity, gas, water and sewerage.
ACCOMMODATION
| |
m2 |
[ft2] |
| GROUND FLOOR |
|
|
| Banking Hall |
187.1 |
[2,014] |
| Understairs Cupboard |
2.7 |
[29] |
| Boiler Room |
7.2 |
[78] |
| Rear Courtyard |
9.2 |
[99] |
| |
|
|
| FIRST FLOOR |
|
|
| Offices |
47.5 |
[512] |
| Female WCs |
|
|
| |
|
|
| SECOND FLOOR |
|
|
| Offices |
52.5 |
[565] |
| Male WCs |
|
|
| TOTAL |
306.2 |
[3,297]
|
ENERGY PERFORMANCE CERTIFICATE
Rating - C63.
RATING ASSESSMENT
| Rateable Value from 01/04/2017 |
£41,250.00 |
| Business Rates Payable 2018/19 |
£19,800.00 |
TENURE
Freehold.
LETTING
The premises are let to Bank of Scotland PLC on a 10 year FRI lease from 04 May 2018 subject to a non-downward rent review on 04 May 2023, a tenant option to break on 03 May 2023 by giving at least 6 months' prior notice and at a commencing rent of £47,000 pax [VAT is not currently charged].
PRICE
£780,000 which will show a purchaser a net initial yield of approximately 5.7% after deducting purchaser's costs at 1.75% and SDLT.
LEGAL COSTS
Each party to bear their own legal costs.
Ref: 4221C
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