LOCATION
The premises are located in a prominent position in Winchester Road just off Andover’s Inner Road, and within a few minute’s walk of Andover Town Centre.
The Andover area currently has a population in the region of 52,000 people and is scheduled to grow further over the next few years.
The town is the home of the Administrative Headquarters of the British Army’s Land Forces and many well known Companies are located in the Andover area including Euronics, Le Creuset, Lloyds Banking Group, Ocado, Petty Wood, Simplyhealth, Stannah Lifts and Twinings to name but a few.
DESCRIPTION
The premises comprise two detached but connected buildings.
The larger building has a Dental Practice with 7 surgeries and ancillary accommodation on the ground floor plus a small basement together with 10 Flats on the two upper floors whilst the smaller building has 2 further surgeries & a small Dental Laboratory on the ground floor with 1 Flat above.
To the outside the Dental Practice has 26 parking spaces and there are a further 17 spaces reserved for the Flats and Dental Laboratory.
SERVICES
Mains electricity, gas, water and sewerage but the flats have electric heating.
ACCOMMODATION
| |
m2 |
[ft2] |
| DENTAL PRACTICE |
|
|
| Glazed entrance lobby |
4.6 |
[50] |
| Main reception/waiting room |
54.2 |
[583] |
| Lobby |
8.6 |
[92] |
| Patient WCs |
|
|
| Staffroom |
17.7 |
[190] |
| Rear lobby |
4.0 |
[44] |
| Staff WCs |
|
|
| Circulation passages |
|
|
| Surgery 1 |
14.1 |
[151] |
| Surgeries 2&3 with shared lobby |
20.5 |
[221] |
| Glass roofed side lobby |
2.5 |
[270] |
| Surgeries 4&5 with shared lobby & treatment room |
39.5 |
[425] |
| Inner waiting room |
10.1 |
[109] |
| Surgery 6 with small office/store |
16.5 |
[178] |
| Surgery 7 |
10.1 |
[109] |
| Records store |
18.4 |
[198] |
| Decontamination room |
8.7 |
[94] |
| Waiting room |
18.9 |
[203] |
| Patient WC |
|
|
| Surgery 9 |
10.9 |
[117] |
| Surgery 10 |
12.6 |
[136] |
| Basement |
12.9 |
[139] |
| DENTAL PRACTICE TOTAL |
284.8 |
[3,066] |
| |
|
|
| DENTAL LABORATORY |
20.7 |
[223] |
| |
|
|
| RESIDENTIAL |
|
| Flat 1 |
1 bedroomed flat |
| Flat 2 |
1 bedroomed flat |
| Flat 3 |
1 bedroomed flat |
| Flat 4 |
1 bedroomed flat |
| Flat 5 |
1 bedroomed flat |
| Flat 6 |
Bedsit |
| Flat 7 |
1 bedroomed flat |
| Flat 8 |
1 bedroomed flat |
| Flat 9 |
1 bedroomed flat |
| Flat 10 |
Bedsit |
| Flat 11 |
1 bedroomed flat |
Approximate net internal measurements in accordance with the RICS Code of Measuring Practice 6th Edition.
RATING ASSESSMENTS
| COMMERCIAL |
|
|
| Surgery |
Rateable Value from 01/04/2023 |
£23,500 |
| Dental Laboratory & Surgeries |
Rateable Value from 01/04/2023 |
£1,925 |
| |
|
|
| RESIDENTIAL |
|
|
| Flat 1 |
Council Tax Band |
A |
| Flat 2 |
Council Tax Band |
A |
| Flat 3 |
Council Tax Band |
A |
| Flat 4 |
Council Tax Band |
A |
| Flat 5 |
Council Tax Band |
A |
| Flat 6 |
Council Tax Band |
A |
| Flat 7 |
Council Tax Band |
A |
| Flat 8 |
Council Tax Band |
A |
| Flat 9 |
Council Tax Band |
A |
| Flat 10 |
Council Tax Band |
A |
| Flat 11 |
Council Tax Band |
A |
These figures have been obtained from www.voa.gov.uk
ENERGY PERFORMANCE CERTIFICATE
| COMMERCIAL |
|
|
|
| Surgery |
2 Winchester Road |
D80 |
Valid until 12/03/2025 |
| Dental Laboratory & Surgeries |
2 Winchester Road |
D83 |
Valid until 29/05/2032 |
| |
|
|
|
| RESIDENTIAL |
|
|
|
| Flat 1 |
2 Winchester Road |
C75 |
Valid until 13/11/2028 |
| Flat 2 |
2 Winchester Road |
C72 |
Valid until 07/05/2034 |
| Flat 3 |
2 Winchester Road |
C75 |
Valid until 12/03/2029 |
| Flat 4 |
2 Winchester Road |
C77 |
Valid until 12/03/2029 |
| Flat 5 |
2 Winchester Road |
C76 |
Valid until 12/03/2029 |
| Flat 6 |
2 Winchester Road |
C73 |
Valid until 12/03/2029 |
| Flat 7 |
2 Winchester Road |
C72 |
Valid until 12/03/2029 |
| Flat 8 |
2 Winchester Road |
C74 |
Valid until 12/03/2029 |
| Flat 9 |
2 Winchester Road |
C75 |
Valid until 12/03/2029 |
| Flat 10 |
2 Winchester Road |
C79 |
Valid until 12/03/2029 |
| Flat 11 |
2 Winchester Road |
D62 |
Valid until 12/03/2029 |
These figures have been obtained from www.gov.uk/find-energy-certificate
TENURE
Freehold subject to a right of way to the 7 houses and parking at Westview Gardens to the rear of the site.
The freehold is held in two titles HP148847 & HP788106.
LETTINGS
| DENTAL PRACTICE |
| Dental Practice let to Damira Dental Studios Ltd [Company Number 07284014] on a 15 year effectively FRI (by way of service charge) lease from 1 April 2023 subject to three yearly non-downward rent reviews and at a commencing rent of £45,000 pax payable monthly in advance. |
| Damira Dental Studios Ltd currently have 34 practices mainly in Southern England and their accounts as at 31 March 2022 showed a turnover of £32,154,832 and a profit before tax of £4,149,234. |
| DENTAL LABORATORY |
| Let to Simon West effectively on an FRI lease from 08 September 2004 (by way of service charge) subject to a non-downward rent review after 3 years and at a rent of £40 per week. |
|
TOTAL COMMERCIAL RENTS £47,086 PAX
|
The current residential rents are currently well below market levels and we understand there is scope to increase the rents to about £103,800 pax with some improvement works.
| FLAT |
TENANT |
ORIGINAL TERM |
CURRENT RENT |
ESTIMATED RENT |
| 1 |
Thomas Clancy |
20/09/2022 - 19/03/2023 |
£500 pm |
£800 pm |
| 2 |
Sean Gillan |
28/07/2023 - 17/01/2024 |
£390 pm |
£800 pm |
| 3 |
Daniel Wlodorski |
20/11/2020 - 19/05/2021 |
£101 pw |
£800 pm |
| 4 |
Vincent Hewlett |
11/11/2022 - 10/05/2023 |
£500 pm |
£800 pm |
| 5 |
John Wharton |
15/04/2017 - 14/10/2017 |
£100 pw |
£800pm |
| 6 |
Jay Townsley |
21/06/2022 - 20/12/2022 |
£400 pm |
£700 pm |
| 7 |
Jordan Dredge |
18/11/2022 - 17/05/2023 |
£400 pm |
£800 pm |
| 8 |
Celeste Mendes |
21/06/2022 - 20/12/2022 |
£420 pm |
£800 pm |
| 9 |
Grace Heaney |
01/03/2023 - 31/08/2023 |
£400 pm |
£800 pm |
| 10 |
Jacob Muleme |
01/08/2023 - 31/01/2024 |
£410 pm |
£700 pm |
| 11 |
Kim Humphreys |
05/11/2022 - 04/05/2023 |
£550 pm |
£850 pm |
| TOTAL RESIDENTIAL RENTS |
£58,221 pax |
£103,800 pax |
PRICE
£1,750,000 which will show a purchaser a net initial yield of about 5.65% after deducting legal & surveyor’s costs at 1.75% and SDLT but with scope to improve the net yield to about 7.90% again after deducting legal & surveyor’s costs at 1.75% and SDLT but allowing up to say £50,000 for improvement works.
VAT
VAT is not currently charged.
Ref: 3997C
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