Farmfoods, London Road Waterlooville Hampshire PO8 8DF

  • Farmfoods, London Road<br>Waterlooville<br>Hampshire<br>PO8 8DF

Farmfoods, London Road
Waterlooville
Hampshire
PO8 8DF

Freehold Long-Let Supermarket and Office Investment

  • Let to Farmfoods Limited and Tillison Consulting Limited
  • New 15 year Lease to Farmoods until 2038 (no breaks)
  • Approximately 1,749.15 sq m (18,828 sq ft)
  • Large Rear Car Park with Approximately 86 Spaces
  • Forms Part of Established Local Retail Parade
  • Lot
    9
  • Auction
    9th May 2024
  • Rent
    £112,800 per Annum Exclusive
  • Status
    Available
  • Guide*
    Contact Us
  • Sector
    Supermarket
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

Freehold Long-Let Supermarket and Office Investment

  • Let to Farmfoods Limited and Tillison Consulting Limited
  • New 15 year Lease to Farmoods until 2038 (no breaks)
  • Approximately 1,749.15 sq m (18,828 sq ft)
  • Large Rear Car Park with Approximately 86 Spaces
  • Forms Part of Established Local Retail Parade
  • Lot 9
  • Auction 9th May 2024
  • Rent £112,800 per Annum Exclusive
  • Status Available
  • Guide* Contact Us
  • Sector
    Supermarket
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
6 miles north-east of Portsmouth, 15 miles west of Chichester, 23 miles east of Southampton
Roads
A3 (Junction 2&3), M27, A27
Rail
Havant and Bedhampton Railway Station
Air
Southampton Airport
Situation

The property is situated on London Road at its junction with Park Lane, approximately 1 mile north of Waterlooville Town Centre. The property forms part of an established local retail parade with its immediate surroundings being predominantly residential.

Tenure

Freehold.

Location
Miles
6 miles north-east of Portsmouth, 15 miles west of Chichester, 23 miles east of Southampton
Roads
A3 (Junction 2&3), M27, A27
Rail
Havant and Bedhampton Railway Station
Air
Southampton Airport
Situation

The property is situated on London Road at its junction with Park Lane, approximately 1 mile north of Waterlooville Town Centre. The property forms part of an established local retail parade with its immediate surroundings being predominantly residential.

Tenure

Freehold.

Description

The property comprises a supermarket arranged on the ground and part-first floors with separately accessed office accommodation on the part-first floor.

The property also benefits from parking to the rear of the property for approximately 86 cars.

VAT

VAT is applicable to this lot.

Note

The Special Conditions of Sale provide for the Buyer in addition to the purchase price, to pay to the Seller 1% plus VAT of the sale price.

Completion Period

5 Week Completion

EPC

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

Description

The property comprises a supermarket arranged on the ground and part-first floors with separately accessed office accommodation on the part-first floor.

The property also benefits from parking to the rear of the property for approximately 86 cars.

VAT

VAT is applicable to this lot.

Note

The Special Conditions of Sale provide for the Buyer in addition to the purchase price, to pay to the Seller 1% plus VAT of the sale price.

Completion Period

5 Week Completion

EPC

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

Tenancy & Accommodation

Floor Use Floor Areas
Approx sq m (1)
Floor Areas
Approx sq ft (1)
Tenant Term Rent p.a.x. Rent Review
(Reversion)
Ground
Part-First
Supermarket
Ancillary
1,026.10
420.00
(11,045)
(4,521)
FARMFOODS LIMITED (CRN:SC030186) (2) 15 years from 24/10/2023
£100,000
24/10/2028
24/10/2033
(23/10/2038)
Part-First Office
303.05
(3,262)
TILLISON CONSULTING LIMITED (CRN: 06607868) 7 years from 02/07/2020 (3)
£12,800 increasing annually to £14,600 in 2026 (4)
02/07/2025
(01/07/2027)
Total Approximate Floor Area  
1,749.15
(18,828)
   
£112,800 increasing to £114,600 (4)
 

(1) The above floor areas have been taken from the Valuation Office Agency (https://www.gov.uk/find-business-rates)
(2) For the year ending 31/12/2022 Farmfoods Ltd reported a turnover of £942,446,000, pre-tax profit of £22,225,000 and a net worth of £142,075,000 (Source: Northrow 19/04/2024)
(3) The lease is subject to a tenant option to determine the lease on 01/07/2025
(4) As to the first floor offices, the lease provides for following fixed increases in rent; from 02/07/2024 to £13,400pax, from 02/07/2025 to £14,000 pax, and from 02/02/2026 to £14,600pax.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    22.04.24
    File Size
    160 MB
    Login to View
  • Common Auction conditions
    Updated Date
    20.05.24
    File Size
    620 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
Placidi Solicitors 27 Middle Road, Park Gate
Southampton
Hampshire
SO31 7GH
Michael Devall 01489 579804michael@placidi.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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