Let to William Jacks Limited (Part of the Sytner Group) t/a Guy Salmon Land Rover
Approximately 0.60 hectares (1.48 acres) with 24% site coverage
Forecourt car parking for 100+ cars
2015 rent review to be settled
Neighbouring occupiers include Tesco Extra, Blake Morgan LLP, Portsmouth Marriott Hotel, Premier Inn and Ford, KIA and Honda
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 15
Auction 13th October 2016
Rent £206,400 per Annum Exclusive
Status Sold
Price £2,430,000
Sector Motor Trade/Petrol Station
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On behalf of a Major Fund
Property Information
Location
Miles
16 miles south-east of Southampton, 14 miles west of Chichester
Roads
A3, A27, M27
Rail
Cosham Railway Station
Air
Southampton Airport
Situation
Port Solent is an affluent mixed use district centred around a significant marina and situated some 4 miles north of Portsmouth City Centre and adjacent to the busy M27. The property is situated in a busy commercial area on the south side of Compass Road close to its junction with Binnacle Way. Neighbouring occupiers include Tesco Extra, Portsmouth Marriott Hotel, Premier Inn and Ford, Kia and Honda car dealerships.
Tenure
Freehold.
Location
Miles
16 miles south-east of Southampton, 14 miles west of Chichester
Roads
A3, A27, M27
Rail
Cosham Railway Station
Air
Southampton Airport
Situation
Port Solent is an affluent mixed use district centred around a significant marina and situated some 4 miles north of Portsmouth City Centre and adjacent to the busy M27. The property is situated in a busy commercial area on the south side of Compass Road close to its junction with Binnacle Way. Neighbouring occupiers include Tesco Extra, Portsmouth Marriott Hotel, Premier Inn and Ford, Kia and Honda car dealerships.
Tenure
Freehold.
Description
The property, a modern car showroom on the ground floor with office accommodation on first floor, comprises a site area of approximately 0.60 hectares (1.48 acres), benefiting from a low site density of approximately 24% with forecourt parking for approximately 127 cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a modern car showroom on the ground floor with office accommodation on first floor, comprises a site area of approximately 0.60 hectares (1.48 acres), benefiting from a low site density of approximately 24% with forecourt parking for approximately 127 cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground First
Showroom Office/Ancillary
1,176.00 sqm 251.00 sq m
(12,667sq ft) (2,703 sq ft)
WILLIAM JACKS PLC (t/a Guy Salmon Land Rover) (1)
20 years from 25/09/2000 on a full repairing and insuring lease
£206,400
24/09/2015 (24/09/2020)
Totals
1,427.00 sq m
(15,370 sq ft)
£206,400
(1) William Jacks Limited were incorporated in 1926 and were purchased by Sytner Group in 2005. Sytner Group represents 20 of the world’s most desirable car manufacturers in over 100 dealerships across the UK (Source: www.sytner.co.uk). For the year ending 31st December 2014, Sytner Group Limited reported a turnover of £3,665,451,000, pre-tax profits of £81,393,000 and a total net worth of £87,057,000. (Source: www.riskdisk.com 09/09/2016).
