Let to Menzies Distribution Limited until 2029 (1)
0.9 acres with on-site car parking and a yard
Within 2 miles of the M27 and A3(M)
Lot 4
Auction 26th March 2020
Rent £133,432 per Annum Exclusive
Status Sold Post
Price
Sector Industrial, Warehouse
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
On the Instructions of The Duchy of Cornwall
Property Information
Location
Miles
3 miles north of Portsmouth city centre
23 miles south-east of Southampton
36 miles south of Guildford
41 miles west of Brighton
Roads
A27, A3, M3, M27, M275, A2080
Rail
Cosham & Hilsea
Air
Southampton Airport, Gatwick Airport
Situation
The property is located 3 miles north of Portsmouth city centre on the Walton Road Industrial Estate and 300 metres from the A27 (Havant bypass roundabout). The A27 in turn connects to the M27 (2 miles to the west) and the A3(M) (2 miles to the east). The A3(M) provides direct access to London 60 miles to the north. The property is situated on Walton Road, close to its junction with the A2080 Eastern Road with nearby occupiers including Snows Mazda, Burras, SSE, Pall Corporation and Holiday Inn.
Tenure
Freehold.
Location
Miles
3 miles north of Portsmouth city centre
23 miles south-east of Southampton
36 miles south of Guildford
41 miles west of Brighton
Roads
A27, A3, M3, M27, M275, A2080
Rail
Cosham & Hilsea
Air
Southampton Airport, Gatwick Airport
Situation
The property is located 3 miles north of Portsmouth city centre on the Walton Road Industrial Estate and 300 metres from the A27 (Havant bypass roundabout). The A27 in turn connects to the M27 (2 miles to the west) and the A3(M) (2 miles to the east). The A3(M) provides direct access to London 60 miles to the north. The property is situated on Walton Road, close to its junction with the A2080 Eastern Road with nearby occupiers including Snows Mazda, Burras, SSE, Pall Corporation and Holiday Inn.
Tenure
Freehold.
Description
The property comprises a detached office/warehouse with car parking and a rear yard. The office accommodation is arranged over ground and first floors. The warehouse benefits from an eaves height of approximately 7m and three roller shutter doors, together with a canopy over the loading area. The yard area benefits from an entrance and an exit. Site Area approximately 0.9 acres.
VAT
VAT is applicable to this lot.
EPC
Band C. See legal pack at www.acuitus.co.uk
Description
The property comprises a detached office/warehouse with car parking and a rear yard. The office accommodation is arranged over ground and first floors. The warehouse benefits from an eaves height of approximately 7m and three roller shutter doors, together with a canopy over the loading area. The yard area benefits from an entrance and an exit. Site Area approximately 0.9 acres.
VAT
VAT is applicable to this lot.
EPC
Band C. See legal pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Office/Warehouse
1,529 sq m
(16,679 sq ft)
MENZIES DISTRIBUTION LIMITED (2)
10 years from 06/12/2019 on a full repairing and insuring lease (1)
£133,432
06/12/2024
Total
1,529 sq m
(16,679 sq ft)
£133,432
(1) Tenant's option to determine in the 5th year upon 9 months' written notice. (2) For the year ended 31st December 2018, Menzies Distribution Limited reported a turnover of £937,300,000, pre-tax losses of -£22,700,000 and a net worth of £30,000,000 (Source: Experian 26/02/2020). The tenant's business involves distributing over 30 million newspapers and magazines weekly to almost 25,000 retailers in the UK and Ireland. Menzies Distribution operates from more than 60 locations across the UK and Ireland. (Source : www.menziesdistribution.com)
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Contacts
Seller's Solicitors
Farrer & Co LLP 66 Lincoln's Inn Fields London WC2A 3LH
