New 5 year lease renewal from September 2018 (no breaks)
Tenant in occupation for over 12 years
Approximately 11,540 sq ft
Prominent position adjacent to NatWest bank with Zizzi, McDonald’s and Lloyds, HSBC and RBS banks all nearby
Pedestrianised location in popular Hampshire town
Lot 35
Auction 5th December 2018
Rent £107,000 per Annum
Status Sold
Price £1,225,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of the Goldsmiths Company Charity
Property Information
Location
Miles
16 miles south of Reading, 32 miles north of Southampton
Roads
A33, M3
Rail
Basingstoke Railway Station
Air
London Heathrow Airport
Situation
The property is prominently situated on the southern side of the pedestrianised Market Place, in the heart of the town centre. Nearby occupiers include the adjoining NatWest bank with Zizzi, McDonald’s and branches of HSBC, Lloyds and RBS banks all nearby. Joices Yard car park is a short walk away with car parking for approximately 60 cars.
Tenure
Freehold.
Location
Miles
16 miles south of Reading, 32 miles north of Southampton
Roads
A33, M3
Rail
Basingstoke Railway Station
Air
London Heathrow Airport
Situation
The property is prominently situated on the southern side of the pedestrianised Market Place, in the heart of the town centre. Nearby occupiers include the adjoining NatWest bank with Zizzi, McDonald’s and branches of HSBC, Lloyds and RBS banks all nearby. Joices Yard car park is a short walk away with car parking for approximately 60 cars.
Tenure
Freehold.
Description
The property comprises a post office on the ground floor, with office accommodation (sublet with subtenant NatWest Bank holding over) on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
EPC Rating Band C.
See legal pack at acuitus.co.uk
Description
The property comprises a post office on the ground floor, with office accommodation (sublet with subtenant NatWest Bank holding over) on the first and second floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
EPC Rating Band C.
See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground First Second
Post Office/Ancillary Offices Offices
511.05 sq m 487.73 sq m 73.30 sq m
(5,501 sq ft) (5,250 sq ft) (789 sq ft)
POST OFFICE LIMITED (1)
5 years from 28/09/2018 on a full repairing and insuring lease
£107,000
Total
1,072.08 sq m
(11,540 sq ft)
£107,000
(1) For the year ending 26th March 2018, Post Office Limited reported a turnover of £1,031,000,000, pre-tax profits of £8,000,000 and a total net worth of -£61,000,000 (Source: Experian Group 02/11/2018). The first and second floors of the property were sublet to National Westminster Bank Plc. The sublease has expired and the tenant is holding over.
