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

9-11 LONDON STREET, ANDOVER, SP10 2NU

3116C7-11RESIZED

LOCATION

The premises are located in London Street, Andover which is part of Andover's main office and professional sector alongside a number of Accountants, Estate Agents and Solicitors.

DESCRIPTION

Town centre café/restaurant with small rear yard & WC. 

SERVICES

Mains electricity, gas, water and sewerage.

ACCOMMODATION

  m2 [ft2]
Seating Area 36.8 [396]
Kitchen 4.8 [52]
Rear Lean-To 8.9 [96]
WC    
     
TOTAL 50.5 [544]

RATING ASSESSMENT

Rateable Value from 01/04/2017 £11,750.00
Business Rates Payable 2021/22* £1,993.51
With Small Business Relief 2019/20 £0.00

These figures include the 64% reduction for the period 01/07/2021 - 31/03/2022.

ENERGY PERFORMANCE CERTIFICATE

Rating - D85.

GRANT

A £1,000 grant may be available from Test Valley Borough Council - search TVBC Independent Retailer Grant.

BUSINESS IMPROVEMNER DISTRICT

The premises are withing a BID and are subject to a charge of 2% of the Rateable Value per year ie £235.

PLANNING

Planning permission was granted on 29 October 2003 [TVN 01583/1] for change of use to a sandwich bar and coffee shop.

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

7 London Street is let to Gadget Trader Group Ltd on a 6 year FRI lease subject to a schedule of condition from 20 October 2021with a non-downward rent review after 3 years, a mutual option to break at the three year point or anytime thereafter with 6 months’ prior written notice and security of tenure excluded.

TERMS

EITHER 7-11 LONDON STREET FOR SALE FREEHOLD

Price £250,000 + VAT which includes an income of £7,000 pax + VAT from 7 London Street.

OR 9-11 LONDON STREET TO LET

On a new FRI lease for a period to be agreed at a commencing rent of £14,000 pax + VAT.

LEGAL COSTS

Each party to bear their own legal costs.

Ref: 3116C9-11

 

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