Faraday Court Rankine Road Basingstoke Hampshire RG24 8PF

Faraday Court
Rankine Road
Basingstoke
Hampshire
RG24 8PF

Modern South-West Office Investment

  • Comprises two detached office buildings totalling approximately 1,363.24 sq m (14,674 sq ft)
  • Multi-let to tenants including Solvd Ltd and Canadean Ltd with Asset Management Opportunities
  • Prominent position in established business location
  • Benefits from on-site car parking and a site area of approximately 0.7 acres (0.28 hectares)
  • Excellent access to the Basingstoke Ringway (A339) and the M3 Motorway (Junction 6)
  • Six Week Completion (subject to Landlord consent to assign)
  • Rent £122,275 p.a.x. (Gross) £96,775 p.a.x. (Net)
  • Legal Title Report <a href="/media/32026/legal title report v4.pdf" target="_blank" title="Legal Title Report V4">here</a>
  • Lot
    26
  • Auction
    11th December 2014
  • Rent
    £122,275 per Annum Exclusive
  • Status
    Sold
  • Price
    £455,000
  • Sector
    Office
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Joint LPA/Fixed Charge Receivers AG Salata and AM Jorden
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Modern South-West Office Investment

  • Comprises two detached office buildings totalling approximately 1,363.24 sq m (14,674 sq ft)
  • Multi-let to tenants including Solvd Ltd and Canadean Ltd with Asset Management Opportunities
  • Prominent position in established business location
  • Benefits from on-site car parking and a site area of approximately 0.7 acres (0.28 hectares)
  • Excellent access to the Basingstoke Ringway (A339) and the M3 Motorway (Junction 6)
  • Six Week Completion (subject to Landlord consent to assign)
  • Rent £122,275 p.a.x. (Gross) £96,775 p.a.x. (Net)
  • Legal Title Report <a href="/media/32026/legal title report v4.pdf" target="_blank" title="Legal Title Report V4">here</a>
  • Lot 26
  • Auction 11th December 2014
  • Rent
  • Status Sold
  • Price £455,000
  • Sector
    Office
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
  • On behalf of Joint LPA/Fixed Charge Receivers AG Salata and AM Jorden

Property Information

Location
Miles
15 miles south of Reading, 30 miles north-west of Guildford, 48 miles south-west of Central London
Roads
A33, A339, M3 (Junction 6)
Rail
Basingstoke Railway Station (c.45 mins to London Waterloo)
Air
London Heathrow Airport, London Gatwick Airport
Situation

The property is situated in the established business location of Daneshill Industrial Estate, one of the town’s principal commercial areas. Nearby occupiers include Access Self-Storage, Global Crossing Telecommunications, Stagecoach and Taylor Francis Publishing.

Tenure

Long Leasehold. Held from The Borough Council of Basingstoke and Deane for a term of 150 years from 22nd December 1989 until 2139 at a current rent of £25,500. The rent is reviewed five yearly upwards only to 14% of estimated rental value. The next rent review is on 22/12/16.

Location
Miles
15 miles south of Reading, 30 miles north-west of Guildford, 48 miles south-west of Central London
Roads
A33, A339, M3 (Junction 6)
Rail
Basingstoke Railway Station (c.45 mins to London Waterloo)
Air
London Heathrow Airport, London Gatwick Airport
Situation

The property is situated in the established business location of Daneshill Industrial Estate, one of the town’s principal commercial areas. Nearby occupiers include Access Self-Storage, Global Crossing Telecommunications, Stagecoach and Taylor Francis Publishing.

Tenure

Long Leasehold. Held from The Borough Council of Basingstoke and Deane for a term of 150 years from 22nd December 1989 until 2139 at a current rent of £25,500. The rent is reviewed five yearly upwards only to 14% of estimated rental value. The next rent review is on 22/12/16.

Description

The property comprises two detached modern office buildings on a central courtyard. Units 1-8 are located within the first building while the entirety of the second building (9-15) has been merged to form a single office. The property benefits from parking for some 63 cars and a site area of approximately 0.7 acres (0.28 hectares).

Note
This property is being marketed for sale on behalf of Joint Law of Property
Act/Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given.

Legal Title Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

Viewings

There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Telephone: +44 (0)20 7034 4858.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises two detached modern office buildings on a central courtyard. Units 1-8 are located within the first building while the entirety of the second building (9-15) has been merged to form a single office. The property benefits from parking for some 63 cars and a site area of approximately 0.7 acres (0.28 hectares).

Note
This property is being marketed for sale on behalf of Joint Law of Property
Act/Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given.

Legal Title Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

Viewings

There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Telephone: +44 (0)20 7034 4858.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
1 Ground Office
45.43 sq m
(489 sq ft)
VACANT      
2 Ground Office
55.83 sq m
(601 sq ft)
SOLVD LTD (1) Renewal - 3 years from
14/11/2014 (2)
£5,400 13/11/2017
3 Ground Office
58.25 sq m
(627 sq ft)
ELECTRO MEDICAL SERVICES
(BASINGSTOKE) LTD (3)
Re-gear - 3 years,3 months
& 18 days from 01/09/2014 (4)
£5,625 18/12/2017
4 Ground
& First
Office
178.84 sq m
(1,925 sq ft)
MJF SECURITY LTD (5) 5 years from 07/05/2013 (6) £17,500 06/05/2018
5 Ground
& First
Office
170.48 sq m
(1,835 sq ft)
VACANT      
6 First Office
46.82 sq m
(504 sq ft)
VACANT      
7 First Office
62.43 sq m
(672 sq ft)
VACANT      
8 First Office
62.24 sq m
(670 sq ft)
INNOVATION CONTROL LTD 5 years from 24/06/2011 £9,750 23/06/2016
9-15 Ground
& First
Office
682.92 sq m
(7,351 sq ft)
CANADEAN LTD (7) 15 years, 9 months &
7 days from 18/06/1999
£84,000 23/03/2015
(8)
Totals  
1,363.24 sq m
(14,674 sq ft)
    £122,275 (gross)  

(1) Solvd Limited is a web, app & internet marketing company who design & build websites, mobile apps, web apps and software for desktop & servers. (Source: www.solvd.co.uk)
(2) The tenant is currently occupying under a lease due to expire on 13th November 2014 at a rent of £8,500. The lease stated is in solicitors hands and due to complete imminently.
(3) Electro Medical Services offers a consultancy service to those customers looking for guidance in establishing best practice for their Servicing to their emergency medical services. (Source: www.electromedicalservices.co.uk)
(4) The tenant has been in occupation since 2012. The new lease allows for a rental decrease from the current rent of £7,500 to £5,625 from 19/12/2014.
(5) Operating in the UK since 1989, MJF boast five divisions which strive to maximise the potential of businesses in furniture, design & build, relocation, data management & security. (Source: http:www.mjf.co.uk)
(6) Tenant only rolling option to break from 07/08/2014 on 6 months’ prior written notice. If a notice to break is served, the tenant must pay a penalty of £11,000.
(7) For the year ending 31/12/2013, Canadean Ltd reported a turnover of £1,417,000, pre-tax profits of £220,000 and a total net worth of £2,499,000.
(Source: www.riskdisk.com 03/11/2014) (8) The tenant has indicated that they will be vacating at the end of the lease.

Property Documents

  • Catalogue Page
    Updated Date
    18.11.14
    File Size
    898 KB
    View PDF
  • Site Plan
    Updated Date
    18.11.14
    File Size
    68 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Dentons UKMEA LLP 21 Station Road
Watford
WD17 1HT
Matthew Hind 020 7842 3311matthew.hind@dentons.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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