LOCATION
The premises are located in Edison Gate on Portway West Business Park which lies on the western outskirts of Andover next to the A303 dual-carriageway.
DESCRIPTION
A factory/warehouse unit with pleasantly fitted ground floor offices, large mezzanine floor, goods lift, loading door 4.3 m (h) x 4.0 m [14’1” x 13’1”] separate personnel door, heating, lighting, kitchenette, and WCs together with 6 parking spaces and shared use of 3 lorry parking spaces.
SERVICES
Mains electricity, gas, water and sewerage.
ACCOMMODATION
| |
m2 |
[ft2] |
| GROUND FLOOR |
|
|
| Factory/Warehouse |
120.6 |
[1,298] |
| Office & Ancillary |
93.4 |
[1,005] |
| FIRST FLOOR |
|
|
| Mezzanine Storage |
178.2 |
[1,917] |
| TOTAL |
392.2 |
[4,220] |
Approximate gross internal measurements in accordance with the RICS Code of Measuring Practice 6th Edition.
RATING ASSESSMENT
| Rateable Value from 01/04/2023 |
|
£19,000.00 |
| Business Rates Payable 2025/26 |
|
£9,481.00 |
ENERGY PERFORMANCE CERTIFICATE
C72 - valid until 10/12/2024.
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
Unit 2 Edison Gate holds the ground lease for the whole of Edison Gate which is for 125 years from 04 November 1982 subject to 5 yearly non-downward ground rent reviews effectively to the open market rental value of the land without the buildings and at a current ground rent of £14,000 pax. The ground rent review due on 04 November 2022 has not yet been agreed.
The owners of Units 1 & 3 Edison Gate repay the owner of Unit 2 Edison Gate 25% & 50% of the ground rent respectively.
TERMS
Price £230,000 for the long-leasehold interest described above with vacant possession of Unit 2 Edison Gate.
LEGAL COSTS
Each party to bear their own legal costs and the buyer to pay Test Valley Borough Council's costs as freeholder [usually about £1,350 per transaction - no VAT].
Ref: 3181C2
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