Old School Studios 40 Lynchford Road Farnborough Hampshire GU14 6EF

Old School Studios
40 Lynchford Road
Farnborough
Hampshire
GU14 6EF

Freehold Office Investment

Highly prominent office building
Multi–tenanted with Active Management Potential
Residential redevelopment potential (subject to consents)
Approximately 544 sq m (5,850 sq ft)
Approximate site area of 0.45 hectares (1.11 acres) providing a low site coverage of 10%
Six Week Completion

Lot
25
Auction
13th February 2014
Rent
£70,830 per Annum Exclusive
Status
Sold
Price
£700,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Office Investment

Highly prominent office building
Multi–tenanted with Active Management Potential
Residential redevelopment potential (subject to consents)
Approximately 544 sq m (5,850 sq ft)
Approximate site area of 0.45 hectares (1.11 acres) providing a low site coverage of 10%
Six Week Completion

Lot 25
Auction 13th February 2014
Rent £70,830 per Annum Exclusive
Status Sold
Price £700,000
Sector
Office
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 35 miles south-west of Central London, 10 miles south-east of Guildford, 18 miles south-east of Reading
Roads: A331, M3 (Junction 4 & 4a), M25 (Junction 11), A31
Rail: Farnborough (Main) Railway Station (34 mins direct to London Waterloo), North Camp Railway Station
Air: London Heathrow Airport, London Gatwick Airport

Situation

The property is located south of Farnborough town centre in a highly prominent position at the junction of Lynchford Road (A3011) and Alexandra Road (B3403) and in close proximity to the A331 leading north to Junction 4a of the M3. The locality is an established office district. Nearby occupiers include NatWest, Lloyds Bank, Boots, William Hill and Hein Gericke.

Tenure

Freehold.

Location

Miles: 35 miles south-west of Central London, 10 miles south-east of Guildford, 18 miles south-east of Reading
Roads: A331, M3 (Junction 4 & 4a), M25 (Junction 11), A31
Rail: Farnborough (Main) Railway Station (34 mins direct to London Waterloo), North Camp Railway Station
Air: London Heathrow Airport, London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property, an attractive period building, comprises a converted office building on the ground and first floors. The building is configured as 11 office suites with common facilities including a kitchen on the ground floor. The property benefits from car parking for approximately 30 cars and a landscaped garden area with an approximate site area of 0.45 hectares (1.11 acres) providing a low site coverage of 10%. The property benefits from a recent refurbishment programme.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Suite No.	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
1	Ground	Office	117.35 sq m	(1,263 sq ft)	ACORN HOMECARE UK LTD	3 years from 25/03/2013	£17,000 (1)	24/03/2016
2	Ground	Office	52.92 sq m	(569 sq ft)	VACANT POSSESSION
3	Ground	Office	87.73 sq m	(944 sq ft)	DCSL SOFTWARE LTD (3)	2 years 10 months from 03/02/2014	£14,250	24/12/2016
4 & 5	Ground	Office	83.94 sq m	(904 sq ft)	CLAIRE BAILEY & REBECCA WALTON	3 years from 01/07/2012 (2)	£7,830	30/06/2015
7	First	Office	34.24 sq m	(368 sq ft)	MR JOHN BENNETT & MRS YVONNE BENNETT (4)	1 year 11 months from 03/02/2014 (5)	£3,750 (5)	17/01/2016
6/9C	First	Office	113.58 sq m	(1,223 sq ft)	CONCEPT DESIGN SOLUTIONS LTD	3 years from 14/02/2012	£20,000	24/03/2015
8 & 9A	First	Office	37.63 sq m	(405 sq ft)	MR JOHN H PARK (THE WOOD CONSULTANCY)	3 years from 25/03/2013	£8,000	24/03/2016
9B	First	Office	16.24 sq m	(174 sq ft)	VACANT POSSESSION
Totals			543.63 sq m	(5,850 sq ft)			£70,830

(1) As to Suite 1, a rent free sum of £1,416.67 is deductible from the quarter payment due on 25th March 2014 and 25th March 2015. The seller will pay the buyer the deductible sums from completion of the sale.
(2) The lease is subject to a tenant option to determine the lease only in the event the local authority serves Enforcement Notice preventing use as a physiotherapy clinic.
(3) As to Suite 3, a car parking licence to park in 4 parking spaces has been granted.
(4) As to Suite 7, a car parking licence dated 9th January 2013 permits the tenants to park in 2 parking spaces expiring on 31st January 2016.
(5) As to Suite 7, there is a fixed increase in rent payable to £4,500 p.a. from 18th January 2015.