LOCATION
The premises are located at the corner of Macadam Way & Royce Close on Portway West Business Park which lies on the western outskirts of Andover next to the A303 dual-carriageway.
DESCRIPTION
Detached, high-office content, factory/warehouse building on a prominent corner site of 0.208 hectares [0.515 acres] with an internal eaves height of 4.7 m [15’5”], loading door 4.7 m (h) x 3.2 m [15’5” x 10’6”], heating, lighting, air-conditioning to offices, kitchen, WCs, large yard/scope to extend [subject to planning].
SERVICES
Mains electricity, gas, water and sewerage.
ACCOMMODATION
| |
m2 |
[ft2] |
| Office & Ancillary |
490.0 |
[5,274] |
| Factory/Warehouse |
264.5 |
[2,847] |
| Mezzanine |
62.0 |
[667] |
| TOTAL |
816.5 |
[8,788] |
ENERGY PERFORMANCE CERTIFICATE
To be assessed.
RATING ASSESSMENT
| Rateable Value from 01/04/2023 |
£63,000.00 |
| Business Rates Payable 2023/24 |
£32,256.00 |
TENURE
The premises are held on the residue of a 125 year ground lease from Test Valley Borough Council commencing on 04 December 1987, subject to 5 yearly non-downward ground rent reviews effectively to 15% of the open market rental value of the premises assuming a minimum net lettable area of 9,270 ft2 incorporating a 15% office and ancillary content on two floors and assuming a letting of 25 years. The ground rent review due on 04 December 2022 has not yet been initiated.
TERMS
EITHER FOR SALE
Price £810,000 + 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 £80,000 pax + VAT.
LEGAL COSTS
Each party to bear their own legal costs and the incoming purchaser/tenant to pay Test Valley Borough Council's costs as freeholder costs [usually about £1,100].
Ref: 3405C
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