Prominently situated fronting Winchester Road (A35) with excellent access to the motorway network
Approximately 1,074.05 sq m (11,561 sq ft) with excellent car parking
Forms part of the established retail park within Southampton
Nearby occupiers include Wickes, LA Fitness, Currys and Pets at Home
Rent is subject to Note 2
Lot 12
Auction 7th April 2011
Rent £130,500 per Annum Exclusive
Status Sold Prior
Price
Sector Retail Warehouse
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On behalf of a Partnership
Property Information
Location
Miles
11 miles south-west of Winchester, 22 miles north-west of Portsmouth, 48 miles south-west of Guildford
Roads
A35, M27, M271, M3
Rail
Southampton Mainline Railway Station
Air
Southampton
Situation
The property is prominently situated on the south-east side of Winchester Road (A35) and forms part of an established retail park with nearby occupiers including Wickes, LA Fitness, Currys and Pets at Home.
Tenure
Freehold.
Location
Miles
11 miles south-west of Winchester, 22 miles north-west of Portsmouth, 48 miles south-west of Guildford
Roads
A35, M27, M271, M3
Rail
Southampton Mainline Railway Station
Air
Southampton
Situation
The property is prominently situated on the south-east side of Winchester Road (A35) and forms part of an established retail park with nearby occupiers including Wickes, LA Fitness, Currys and Pets at Home.
Tenure
Freehold.
Description
The property comprises a modern ground floor retail warehouse unit with customer parking to the front of the property accessed directly from the main Winchester Road (A35). The Vendor has contributed towards the refurbishment of the unit which the tenant is to undertake. (For further details, please refer to the legal documents)
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern ground floor retail warehouse unit with customer parking to the front of the property accessed directly from the main Winchester Road (A35). The Vendor has contributed towards the refurbishment of the unit which the tenant is to undertake. (For further details, please refer to the legal documents)
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Retail Warehouse
1,074.05 sq m
(11,561 sq ft)
HALFORDS LIMITED (1)
10 years from 25th March 2011 on a full repairing and insuring lease
£130,500 (2)
25/03/2016
Totals
1.074.05 sq m
(11,561 sq ft)
£130,500
(1) For the year ending 2nd April 2010, Halfords Limited reported a turnover of £817,600,000, pre-tax profits of £109,200,000 and a total net worth of £261,500,000. (Source: www.riskdisk.com 08/02/2011) (2) The tenant is currently benefiting from a rent free period. The seller has agreed to top-up the rent from completion of the sale until the expiry of the rent free period on 24th September 2012 the property will therefore effectively produce £130,500 p.a.x. from completion of the sale.
