LOCATION
The premises are located in Waverley Buildings just off Andover High Street and close to several town centre car parks.
DESCRIPTION
A town centre, lock-up shop with suspended ceiling, lighting, laminate floor, security shutter, rear loading & WC.
SERVICES
Mains electricity, water and sewerage.
ACCOMMODATION
| |
m2 |
[ft2] |
|
| Retail Area |
53.6 |
[585] |
|
| WC |
|
|
|
| |
|
|
|
| TOTAL |
53.6 |
[585] |
|
RATING ASSESSMENT
| Rateable Value from 01/04/2023 |
£12,500.00 |
| Business Rates Payable 2024/25* |
£6,237.50 |
| With Small Business Rate Relief 2024/25* |
£1,039.59 |
* These figures 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.
In England and Wales small businesses are generally entitled to Small Business Rate Relief if they only occupy one commercial property and the rateable value of that property is less than £15,000.
ENERGY PERFORMANCE CERTIFICATE
B42 - valid until 6 MArch 2030.
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 £250.
GRANT
A £1,200 grant may be available from Test Valley Borough Council - search TVBC Independent Retailer Grant.
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
CAR PARK SEASON TICKETS
Test Valley Borough Council usually have season tickets available in some of the town centre parks. See www.testvalley.gov.uk or telephone 01264 368000.
TENURE
The premises are held on the residue of a 125 year ground lease from 01 January 2008 at a ground rent of £200 pax + VAT which rises every 25 years by £100 pax + VAT.
TERMS
EITHER FOR SALE
Price £177,500 + VAT for the ground lease interest described above.
OR TO LET
On a new FRI lease for a period to be agreed at a commencing rent of £15,000 pax + VAT.
SERVICE CHARGE
There will be a service charge to cover maintenance of common parts, management of the development and insurance of the building.
LEGAL COSTS
Each party to bear their own legal costs.
Ref: 1886C9
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