Entirely let to Added Value Limited (a subsidiary of WPP plc) on a new re-geared lease until 2022 (subject to option)
Tenant is also in occupation of the adjacent property
Affluent South-West London location
Future residential development potential (subject to consents)
Walking distance of Hampton Wick and Kingston-upon-Thames Railway Stations
Six Week Completion Period Available
Lot 17
Auction 14th February 2013
Rent £143,887 per Annum Exclusive
Status Sold
Price £1,610,000
Sector Office
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Fixed Charge Receivers, Jones Lang LaSalle
Property Information
Location
Miles
1/2 mile from Kingston-upon-Thames, 3 miles from Richmond-upon-Thames, 13 miles from Central London
Roads
A3, A308, A310, M3 (Junction 1)
Rail
Hampton Wick and Kingston-upon-Thames Mainline Railway Stations (approximately 30 mins to London Waterloo), Richmond-upon-Thames Underground Station (District Line)
Air
Heathrow International Airport
Situation
The property is situated in a prominent corner position at the junction of Lower Teddington Road and Becketts Place approximately 150 metres from Kingston Bridge. While the immediate area benefits from a number of office occupiers including The Offer Group and Brand Learning, much of the surrounding area is also residential. The property lies adjacent to Rivermead, a detached three storey office building, which is also occupied by the tenant.
Tenure
Freehold.
Location
Miles
1/2 mile from Kingston-upon-Thames, 3 miles from Richmond-upon-Thames, 13 miles from Central London
Roads
A3, A308, A310, M3 (Junction 1)
Rail
Hampton Wick and Kingston-upon-Thames Mainline Railway Stations (approximately 30 mins to London Waterloo), Richmond-upon-Thames Underground Station (District Line)
Air
Heathrow International Airport
Situation
The property is situated in a prominent corner position at the junction of Lower Teddington Road and Becketts Place approximately 150 metres from Kingston Bridge. While the immediate area benefits from a number of office occupiers including The Offer Group and Brand Learning, much of the surrounding area is also residential. The property lies adjacent to Rivermead, a detached three storey office building, which is also occupied by the tenant.
Tenure
Freehold.
Description
The property comprises modern office accommodation over ground, first and second floors and benefits from on-site car parking. There is an additional lease for parking spaces (see shaded area on plan) to Parman Group Limited. For further information please refer to the legal documents.
Note
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises modern office accommodation over ground, first and second floors and benefits from on-site car parking. There is an additional lease for parking spaces (see shaded area on plan) to Parman Group Limited. For further information please refer to the legal documents.
Note
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
10 years from 25/12/2012 on a full repairing and insuring lease (2)
£143,887.50 (3)
25/12/2017 (24/12/2022)
Totals
556.70 sq m
(5,993 sq ft)
£143,887.50
(1) Added Value Limited is a subsidiary of WPP plc, arguably the world leader in marketing communications services. After forming an alliance with Icon Brand Navigation and Diagnostic Research they have 21 offices in 13 countries, across 5 continents and deliver marketing advice in over 150 markets. Their clients have included Virgin Active, Levi’s, Audi, Peroni, Vodafone and Santander. For further information please go to www.added-value.com (16/01/2013). (2)The tenant benefits from an option to determine on 24th December 2017 subject to 6 months’ prior written notice. (3)The tenant is currently benefiting from a 6 month rent free period due to expire 24th June 2013. The seller has agreed to adjust the completion monies so that the property will effectively produce £143,887.50 from completion of the sale.
