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Cartel Business Centre, Stroudley Road, Basingstoke, Hampshire, RG24

££550,000 Guide

Office For Sale

**Of Interest to Investors & Owner Occupiers**
Well specified office building currently let to 'A' grade tenant until 31 March '23.
Or (to suit an owner occupier) - with vacant possession from October '22*

Approx 5,500 ft2 (511 m2)

| Net rental income of £50,575 per annum
| Capital value of £100 per sq ft


Location
Basingstoke is major centre for commerce and industry with a borough population of approximately 150,000. The town is 45 miles to the south west of London adjacent to Junctions 6 and 7 of the M3 Motorway. There is also a frequent rail service to London Waterloo (approx. 45 minutes).
The Property lies approximately 1.5 miles north of Junction 6 of the M3 Motorway on Stroudley Road, part of the Daneshill estate. It is situated immediately opposite Basepoint Business Centre.

Description
The premises comprises a modern, detached two-storey office unit forming part of the scheme of five similar units. The building provides predominantly open plan accommodation throughout with natural light from all four elevations. The specification includes gas fired central heating as well as air conditioning, raised floor, suspended ceilings with inset lighting and with male and female WC facilities. There are a minimum of 16 onsite parking spaces.

Accommodation
Approximate Net Internal Areas
m2 ft2
Ground floor 254 2,733
First floor 254 2,733
Total 508 5,466

Tenure
The Property is held leasehold from Basingstoke & Deane Borough Council for a term of 125 years from 26 April 1985. A ground rent is payable following a lease renewal based on the higher of the base rent (£8,250 per annum) or 15% of the rent received.

Lease
The property has been let on successive leases to an ‘A’ grade tenant since 2016, the current lease (which is contracted out of the security of tenure provisions of the Landlord & Tenant Act 1954 Pt II) expiring 31 March 2023. The lease provides for a mutual break option from 1 October 2022, subject to either party serving not less than 6 months prior written notice. The passing rent is £59,500 per annum without further review. The tenant is responsible for all internal non-structural repairs and decorations to include windows, doors and their frames. The Landlord is responsible for the main structure including the foundations, elevations and the roof.

Price
£550,000 reflecting a net initial yield of approximately 8.77% allowing for the ground rent payable and purchasers costs at 4.84%. We are advised that the property has not been elected for VAT and therefore no VAT will be chargeable upon the sale.

Business Rates
Rateable value: £44,500
The small business rate multiplier for the year 2020/21 is 49.9p in the £.   

Services
We understand that all mains services are connected to the property.

Caution
Woolley and Wallis Commercial have not tested the services mentioned in these particulars.

Planning
Prospective purchasers must satisfy themselves as to the permitted planning uses for the property.

Viewing
Strictly by appointment only through Woolley & Wallis Commercial (01722 330333)

Tenure: Please confirm with Woolley & Wallis Commercial whether this property is freehold or leasehold

Brochure

No floorplans available for this property

No EPC available for this property

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Office Details

Salisbury
51-61 Castle Street
Salisbury
SP1 3SU

01722 424524
salisbury@w-w.co.uk

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