Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
60 miles south-west of London, 20 miles north of Portsmouth, 30 miles south-east of Guildford
Roads
A3, A272, A31
Rail
Petersfield Railway Station
Air
Southampton Airport
Situation
Petersfield is an affluent and popular London commuter town in the South Downs National Park, some 60 miles south-west of London. The property is adjacent to residential property to the north and an office building to the south. Langrish House Hotel is situated some 100 metres away.
Tenure
Freehold.
Location
Miles
60 miles south-west of London, 20 miles north of Portsmouth, 30 miles south-east of Guildford
Roads
A3, A272, A31
Rail
Petersfield Railway Station
Air
Southampton Airport
Situation
Petersfield is an affluent and popular London commuter town in the South Downs National Park, some 60 miles south-west of London. The property is adjacent to residential property to the north and an office building to the south. Langrish House Hotel is situated some 100 metres away.
Tenure
Freehold.
Description
The property comprises a series of industrial buildings benefiting from an eaves height of 6.2m (20ft) and 7.45m (24ft) and high quality ancillary air conditioned office accommodation. The property further benefits from a site area of 0.85 hectares (2.1 acres), with a site coverage of 42% providing on-site car parking. The seller understands that the tenant has invested about £3.5m in the site in the last 3 years.
Six Week Completion
Buyer's Legal 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.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a series of industrial buildings benefiting from an eaves height of 6.2m (20ft) and 7.45m (24ft) and high quality ancillary air conditioned office accommodation. The property further benefits from a site area of 0.85 hectares (2.1 acres), with a site coverage of 42% providing on-site car parking. The seller understands that the tenant has invested about £3.5m in the site in the last 3 years.
Six Week Completion
Buyer's Legal 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.
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 Ground First
Industrial Office/Ancillary Canteen
2,910.49 sq m 633.07 sq m 51.57 sq m
(31,329 sq ft) (6,814 sq ft) (555 sq ft)
ARRK EUROPE LIMITED and ARRK PRODUCT DEVELOPMENT GROUP LIMITED (Guaranteed by ARRK Corporation) (1)
16 years from 29/11/2003 on a full repairing and insuring lease (2)
£245,689
29/11/2018 (28/11/2019)
Substation
SOUTHERN ELECTRIC PLC
21 years from 28/01/1998
£1
28/01/2019
Totals
3,595.13 sq m
(38,698 sq ft)
£245,690
(1) ARRKS’s origins date back to 1948 in Japan. The ARRK Corporation in Japan remains the parent company to all other ARRK Companies. Today, the ARRK Corporation employs around 5000 people and they are suppliers to Bentley, Aston Martin, Range Rover and Vauxhall (www.arrkeurope.com). For the year ending 31st December 2014, Arrk Europe Limited reported a turnover of £60,030,000, pre-tax profits of £1,966,000 and a total net worth of £8,519,000. (Source: www.riskdisk.com 05/11/2015). (2) The lease is subject to a schedule of condition.
