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

UNITS 1-4 TELFORD GATE, WHITTLE ROAD, PORTWAY WEST BUSINESS PARK, ANDOVER, SP10 3SF

3004C1-4 RESIZED

LOCATION

Telford Gate is located in a prominent position, fronting Whittle Road, at one of the entrances to Portway West Business Park which, itself, lies on the western outskirts of Andover next to the A303 dual-carriageway.

DESCRIPTION

A prominent, well-let, terrace of 4 industrial / warehouse units with fitted offices, internal eaves height 6.4 m [21’0”], loading doors 4.7 m (h) x 4.9 m [15’5” x 16’1”], 2 lorry parking spaces per unit and a total of 65 car parking spaces.

SERVICES

Mains electricity, gas, water and sewerage.

ACCOMMODATION

   m2 [ft2]
Unit 1 684.4 [7,367]
Unit 2 525.5 [5,657]
Unit 3 621.9 [6,694]
Unit 4 743.8 [8,006]
TOTAL 2,575.6

[27,724]

ENERGY PERFORMANCE CERTIFICATES

Unit 1 C63
Unit 2 D94
Unit 3 D79
Unit 4 D88

RATING ASSESSMENTS

Unit 1 £33,000
Unit 2 £24,750
Unit 3-4 £67,500

TENURE

The site is held on the residue of a 125 year ground lease from 21 September 1981 at a ground rent based on 15% of the sum of the market rents of the units and at a current ground rent of  £23,475 pax [the freeholder currently does not charge VAT on the ground rent].

LETTINGS

  TENANT LEASE RENT REVIEW RENT
Unit 1 Ricky & Claire Sumner 10 year FRI lease from 05/03/2019 05/03/2024 £44,000 pax
Unit 2 Aspen Restoration Ltd 5 year FRI lease from 28/10/2021 None £32,500 pax
Unit 3 Rutherford Ide Ltd 10 year lease from 06/01/2020 06/01/2025 £40,000 pax
Unit 4 Rutherford Ide Ltd 10 year lease from 06/01/2020 06/01/2025 £48,000 pax

Current total rent £164,500 pax + VAT.

NB 1 Units 2-4 have schedules of condition attached to the leases

NB 2 Units 3 & 4 have option to break at 05/01/2025

NB 3 Unit 4 has a phased rent of Yr 1 £33,000, Yrs 2 & 3 £40,000, Yr 4 £44,000 & Yr 5 £48,000 

PRICE

£2,000,000 + VAT which will show a purchaser a net initial yield of about 6.5% after deducting purchaser's costs at 1.75%, SDLT and an allowance of £12,000 for the phased rent on Unit 4 .

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 £1,100 per transaction].

Ref: 3004C

 

Request Property Details

Powered by Intergage