Western House
Armstrong Road, Daneshill Industrial Estate
Basingstoke
Hampshire
RG24 8QE

Well Located Industrial Investment

Let to Western House Limited on a new
15 year lease (subject to option)
Let off £5.52 per sq ft
Approximately 0.9 hectares (2.22 acres) reflecting a site coverage of approximately 47%
Established industrial location 1 mile north of M3 (Junction 6)
Neighbouring occupiers include Mars Drinks, DHL, Pickfords, Jewson, Hertz and Booker

Lot
33
Auction
24/Oct/2019
Rent
£250,000 per Annum Exclusive
Status
Sold Prior
Price*
Sector
Industrial/Warehouse
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Important Auction & Property Update

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Map

* More information on the term "price" can be found here

Property Information

Location

Miles: 47 miles south-west of Central London; 18 miles south of Reading; 28 miles north-east of Southampton
Roads: A339, A33, M3 (Junction 6)
Rail: Basingstoke Railway Station
Air: London Heathrow Airport; London Gatwick Airport

Situation

The property is prominently situated within the well established Daneshill Industrial Estate approximately 1 mile to the north-east of Basingstoke town centre and one mile north of the M3 Motorway (Junction 6). Major occupiers on the industrial estate include Mars Drinks, DHL, Pickfords, Jewson, Hertz and Booker.

Tenure

Long Leasehold. Held from the Local Authority for a term of 99 years from 20/05/1974 with a current rent reserved of £83,595 per annum exclusive. The head lease provides for the rent to be reviewed to " Bare Site Value" every 33 years. The next rent review is due on 20th May 2030.

Description

The property comprises a four bay single storey portal frame warehouse with a two storey ancillary office block. The property benefits from a site area of approximately 0.9 hectares (2.22 acres) reflecting a site coverage of approximately 47%. There is a yard area providing car parking and an ample turning circle for articulated lorries. The warehouse benefits from an eaves height of 6m (20ft).

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C. See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/(Reversion)
Ground Mezzanine Ground First	Warehouse Warehouse Office Office	3,181.09 sq m 47.00 sq m 488.53 sq m 488.53 sq m	(34,241 sq ft) (506 sq ft) (5,259 sq ft) (5,259 sq ft)	WESTERN HOUSE LIMITED (1)	15 years from 29/04/2019	£250,000	29/04/2024 and 29/04/2029 (28/04/2034)
Totals		4,205.15 sq m	(45,265 sq ft)			£250,000

(1) Western House Limited was incorporated in 1949 and is a designer, developer and wholesaler of glassware. The company is rated by Experian as "Very Low Risk" and on 31st March 2018 reported a net worth of £760,982 (Source: Experian Group 27/09/2018). More information about Western House Limited can be found at www.western-house.com.
(2) The lease provides for a tenant option to determine on 29/04/2029, subject to 6 months' prior written notice.