14 London Road
Basingstoke
Hampshire
RG21 7NU

Freehold Retail and Office Investment

  • Entirely let to Magnet Limited until June 2022 (No breaks)
  • Pedestrianised Town Centre location
  • Public Car Park located to the rear
  • Nearby occupiers include McDonald's, Ladbrokes, Zizzi and branches of Lloyds TSB, HSBC and NatWest Banks
  • Producing £90,041 (2)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    17
  • Auction
    25/May/2017
  • Rent
    £90,041 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 14 London Road<br>Basingstoke<br>Hampshire<br>RG21 7NU
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Property Information

Location
Miles
50 miles south-west of Central London, 16 miles south of Reading
Roads
A33, M3
Rail
Basingstoke Railway Station
Air
London Heathrow Airport
Situation

The property is prominently situated in a strong retailing position on the north side of pedestrianised London Street in the heart of the town centre. Nearby occupiers include McDonald's, Ladbrokes, Zizzi and branches of Lloyds, HSBC and NatWest Banks.

Tenure

Freehold.

Description

The property comprises retail accommodation on the ground floor with self-contained office accommodation on the first and second floors. The offices are separately accessed from Feathers Yard to the rear of the property. The property benefits from the 150 space Central short stay public car park which is to the rear of the property.

VAT

VAT is applicable to this lot.

Completion Period

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 advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas
(Approx)

TenantTermRent p.a.xReview/(Reversion)
Ground
First
Second

Retail
Offices
Offices
152.35 sq m
147.71 sq m
22.29 sq m
(1,640 sq ft)
(1,590 sq ft)
(240 sq ft)
MAGNET LIMITED
(1) (3)

15 years from 25/06/2007 on a full
repairing and insuring
lease
£90,041 (2)
25/06/2017 (2)
(24/06/2022)
Total 
322.35 sq m
(3,470 sq ft)
  £90,041 (2)
 

(1) For the year ending 31st December 2015, Magnet Limited reported pre-tax profits of £500,000 and a total net worth of £34,270,000 (Source: Experian Group 13/03/2017). Magnet currently trade from around 170 branches in the UK and are part of the Nobia Group, Europe's largest kitchen group(www.manget.co.uk).
(2) The current rent reserved under the terms of the lease is £77,673 per annum exclusive. The lease provides for a fixed increase in the rent on 25th June 2017 to £90,041 per annum exclusive.
(3) The tenant has sublet the self-contained offices to a firm of architects.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    19.05.17
    File Size
    7 MB
    Login to View
  • Site Plan
    Updated Date
    03.05.17
    File Size
    4 MB
    View PDF
  • Catalogue Page
    Updated Date
    03.05.17
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Alec LinfieldAlec Linfield +44 (0)20 7034 4860alec.linfield@acuitus.co.uk
Seller's Solicitors
DKLM Solicitors City House, 3 Cranwood Street
London
EC1V 9PE
0207 549 7889
Adam Keeble 0207 549 7887a.keeble@dklm.co.uk

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