LOCATION
The premises are located in Reith Way in a prominent position at one of the entrances to Portway West Business Park which lies on the western outskirts of Andover next to the A303 dual-carriageway.
DESCRIPTION
A prominent detached factory/warehouse building with excellent two-storey offices on a 1.21 hectare [3.00 acre] site with scope for a 929.0 m2 [10,000 ft2] rear extension and the ability to split into two separate buildings.
The premises have an internal eaves height of 5.8 m [19’0”] covered loading area with 2 dock levellers, 2 loading doors 5.5 m (h) x 5.8 m [18’0” x 19’0”], heating & lighting throughout, sprinkler system and extensive lorry & car parking.
The Office & Ancillary accommodation could be reduced by 1,040.6 m2 [11,201 ft2] and the Factory/Warehouse {South} increased by 520.3 m2 [5,601 ft2] if required.
SERVICES
Mains electricity, gas, water and sewerage.
ACCOMMODATION
| |
m2 |
[ft2] |
| SOUTH |
|
|
| Office & Ancillary |
1,593.4 |
[17,151] |
| Factory/Warehouse |
1,605.3 |
[17,279] |
| Mezzanine |
88.5 |
[953] |
| |
|
|
| NORTH |
|
|
| Factory/Warehouse |
1,107.3 |
[11,919] |
| Concrete Mezzanine |
571.1 |
[6,147] |
| Covered Loading Bay |
216.4 |
[2,329] |
| |
|
|
| Pump House/Sprinkler Tank |
136.1 |
[1,465] |
| |
|
|
| TOTAL |
5,318.1 |
[57,243] |
ENERGY PERFORMANCE CERTIFICATE
Rating - C64.
RATING ASSESSMENT
Rateable Value £192,000.
TENURE
The premises are held on the residue of a 125 year ground lease from 18 September 1987, subject to non-downward ground rent reviews every 5 years effectively to 15% of the open market rental value of the premises assuming a minimum area of 6,131.5 m2 [66,000 ft2] and at a current ground rent of £47,025 pax. [VAT is not currently charged].
TERMS
EITHER FOR SALE
Price £1.5m + VAT for the ground leasehold interest described above.
OR TO LET
On a new FRI lease for a period to be agreed at a commencing rent of £200,000 pax + VAT.
LEGAL COSTS
The purchaser/tenant will be responsible for all parties' legal costs.
Ref: 3341C
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