14 London Road Basingstoke Hampshire RG21 7NU

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
25th May 2017
Rent
£90,041 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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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 25th May 2017
Rent £90,041 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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.

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

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

EPC

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

Description

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 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.