Unit 8 Belbins Business Park Cupernham Lane Romsey Hampshire SO51 7JF
Price: Sale Price: £375,000
Size: 5007 sq ft465 sqm Primary Category: Investment All Categories:
Investment, Property Ref/Movehut: MH464857 Property Ref/Agent: 43919
*Please use the agent ref when calling the agent directly.
The premises are located on a new but now well established industrial estate, being on the northern outskirts of Romsey, and therefore close to the main Stockbridge/Andover Road (A3057), and just over a mile from the town centre.
The M.27 motorway (junctions 2 and 3) is within about a ten minutes driving distance, thus allowing easy access to all parts of the Solent Region, Southampton Airport and Eastleigh Parkway mainline railway station (junction 5), and further afield via the national motorway network.
This end terraced industrial building, constructed in 2005 we understand, is arranged on two levels benefitting from offices on both levels, added to which a mezzanine floor has been installed.
Construction is of steel portal frame design having cavity walls (brick and block work) to the lower level with insulated plastic coated steel profile cladding above. The pitched roof is also finished with insulated steel profile sheets incorporating translucent daylight panels. Windows to the front and side elevation are double glazed UPVC units.
The front elevation incorporates a manually operated up-and-over loading door (3.0w x 4.0h), together with a personnel door to the office area.
The offices benefit from modern amenities such as air conditioning, electric convection heaters, suspended acoustic tiled ceilings, fluorescent lighting, carpeting, a kitchenette, and male, female and disabled toilets are provided.
There is adjoining on-site parking for 11 cars.
Ground floor: Office, workshop & ancillary: 2,634 sq ft/ 244.66 m2
Mezzanine: Storage: 1,483 sq ft/ 137.78 m2
First Floor: Office, workshop & ancillary: 2,634 sq ft/ 244.66 m2
Total: 5,007 square feet / 588.90 square metres
All floor areas are approximate and have been measured in accordance with RICS Code of Practice on a gross internal basis.
Offers are invited in excess of 375,000. A purchase at this level would reflect net initial yield (NIY) of 7.38%, taking acquisition costs into account at 4.8%.
29,000 per annum exclusive payable quarterly in advance. There is an upward only rent review due at the end of the third year (September 2018).
According to the Valuation website (voa.gov.uk), we understand the Rateable Value is 22,250, and as the current poundage is 0.493, making a rates payable figure of 10,969.25, for the year commencing April 2015.
The existing tenants have been in occupation for the last six year, their lease having commenced in September 2009. A new lease has just been granted for a further term of six years on a full repairing and insuring basis from 4th September 2015, without break clause.
The lease has been drawn up outside the security of tenure provisions of the Landlord & Tenant Act 1954, sections 24-28, as amended. The original deposit, amounting to 6,268.47, is held by the landlords.
PhotonStar LED Ltd., whose registered address is also at 8 Westlinks, Romsey, SO51 7JF, posted Accounts dated March 2014 showing a turnover of a 5,304,000, with Shareholders Funds increasing to 785,000 from 164,000.
B1 / Light Industrial
There is on-site parking for 11 cars.
All expected modern amenities, including a/c to the offices.
EPC for Unit 8 Belbins Business Park Cupernham Lane Romsey Hampshire SO51 7JF
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