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PLOT 8 PORTWAY EAST BUSINESS PARK, ANDOVER, SP10 33LU

4179C FRONT RESIZED

4179C REAR RESIZED SMALL4179C YARD RESIZED SMALL

LOCATION

The premises are located on Portway East Business Park which lies on the western outskirts of Andover giving easy access to the A303 dual-carriageway.

DESCRIPTION

Detached factory/warehouse building with offices, loading canopy, and large concreted yard all on a site of 0.64 hectares [1.58 acres] but about 40% of the site has been sub-let and will produces an income of £18,900 pax.

ACCOMMODATION

  m2 [ft2]
Ground Floor    
Factory/warehouse with entrance hall, stairs, works offices & WCs 488.0 [5,253]]
     
First Floor    
Offices comprising four offices, kitchen & WCs 137.6 [1,481]
     
Mezzanine 51.7 [556]
     
Loading canopy 201.0 [2,164]
     
TOTAL 878.3 [9,454]

ENERGY PERFORMANCE CERTIFICATE

Rating - G163.

RATING ASSESSMENT

Rateable Value from 01/04/2017 £41.500.00
Business Rates Payable 2020/21 £20,708.50

TENURE

The premises are held on the residue of a 99 year ground lease from 01 April 1972 - 31 March 2071 , subject to non-downward ground rent reviews every 25 years effectively to the open market rental value of the site without the buildings, and at a current ground rent of £33,500 pax [VAT is currently not charged]. A new longer ground lease may be available if required.

An area of 433.6 m2 [4,667 ft2] at the rear of the site, with access thereto, has been let to Southern Electric Plc from 01 June 2001 - 28 March 2071, subject to non-downward ground rent reviews on 01 April 2022 & 01 April 2047 effectively to 1/67th of the ground rent for the whole site.

An area of 1,710 m2 [18,406 ft2] of the site with access thereto will be let to Ultraflow Dreainage Ltd on a 10 year lease subject to a non-downward rent review after 5 years and at a commencing rent of £18,400 pax.

TERMS

Price £425,000 [VAT is not currently charged].

LEGAL COSTS

Each party to bear their own legal costs and the incoming tenant to pay Test Valley Borough Council's costs as freeholder [usually about £1,100].

Ref: 4179C

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