Unit 1, Solent 27 Walton Road
Portsmouth
PO6 1UJ

Freehold Office and Warehouse Investment

  • Prominent office/warehouse close to the A27
  • 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
    26/Mar/2020
  • Rent
    £133,432 per Annum Exclusive
  • Status
    Withdrawn Prior
  • 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
Important Auction & Property Update
  • Unit 1, Solent 27 Walton Road<br>Portsmouth<br>PO6 1UJ
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* More information on the term "price" can be found here

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.

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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
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)
£133,43206/12/2024
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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Catalogue Page
    Updated Date
    04.03.20
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    04.03.20
    File Size
    570 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Farrer & Co LLP 66 Lincoln's Inn Fields
London
WC2A 3LH
Henry Stevens 0203 375 7292henry.stevens@farrer.co.uk

Useful Links

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