Hartley House Bartley Wood Business Park Hook Hampshire RG27 9XA

Hartley House
Bartley Wood Business Park
Hook
Hampshire
RG27 9XA

Substantial Freehold Office Investment

Fully let to Hewlett Packard Enterprise Services UK Limited
Comprises approximately 32,076 sq ft of Grade A office accommodation
Benefits from on-site car parking for approximately 163 cars
Bartley Wood Business Park is an established and well located office park with excellent communications
Future Asset Management Opportunities and Residential Redevelopment Potential (subject to consents)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
14
Auction
8th December 2016
Rent
£560,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of VALAD

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Substantial Freehold Office Investment

Fully let to Hewlett Packard Enterprise Services UK Limited
Comprises approximately 32,076 sq ft of Grade A office accommodation
Benefits from on-site car parking for approximately 163 cars
Bartley Wood Business Park is an established and well located office park with excellent communications
Future Asset Management Opportunities and Residential Redevelopment Potential (subject to consents)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 14
Auction 8th December 2016
Rent £560,000 per Annum Exclusive
Status Sold Prior
Price
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of VALAD

Property Information

Location

Miles: 7 miles east of Basingstoke, 19 miles north-west of Guildford, 35 miles south-west of London
Roads: M3 (Junction 5)
Rail: Hook Railway Station (Approx 3/4 mile)
Air: London Heathrow Airport

Situation

Hook is situated in the heart of Hampshire, strategically located just off Junction 5 of the M3 which links Central London to the north and Southampton to the south. Bartley Wood Business Park is an established business location comprising 14 headquarter office buildings totalling approximately 600,000 sq ft. Hartley House is situated in a prominent position within the park, accessed from Bartley Way. Hewlett Packard occupy three additional buildings on the park among other national occupiers including Virgin Media, Lenovo and Serco.

Tenure

Freehold.

Location

Miles: 7 miles east of Basingstoke, 19 miles north-west of Guildford, 35 miles south-west of London
Roads: M3 (Junction 5)
Rail: Hook Railway Station (Approx 3/4 mile)
Air: London Heathrow Airport

Situation

Tenure

Freehold.

Description

The property comprises a three storey detached office building arranged over ground and two upper floors providing Grade A accommodation. The high quality specification includes suspended ceilings with recessed CAT 2 lighting, raised floors, full integral air conditioning and two 10 passenger lifts. The property benefits from an approximate site area of 0.67 hectares (1.65 acres) with car parking for approx 163 cars, providing an excellent ratio of 1:197 sq ft.

VAT

VAT is applicable to this lot.

Viewings

There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Email: will.moore@acuitus.co.uk

EPC

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

Description

VAT

VAT is applicable to this lot.

Viewings

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.	Reversion
Ground First Second	Office Office Office	1,103.29 sq 953.25 sq m 923.34 sq m	(11,876 sq ft) (10,261 sq ft) (9,939 sq ft)	HEWLETT PACKARD ENTERPRISE SERVICES UK LIMITED (1)	5 years from 01/06/2016 on a full repairing and insuring lease (2)	£560,000 (3)	31/05/2021
Total		2,979.88 sq m	(32,076 sq ft)			£560,000

1) Hewlett Packard Enterprise Services UK Ltd is the global business and technology services division of Hewlett Packard. It was formed by the combination of Hewlett Packards legacy services, consulting and outsourcing businesses and the integration of Electronic Data Systems (EDS), which was acquired in 2008. EDS first signed the lease of Hartley House in 1998 and have been a major presence on the Park for in excess of 20 years. Hewlett Packard has a global client base including the UK Ministry of Defence, American Airlines, Rolls-Royce plc, General Motors, Bank of America, United States Navy and NASA. For the year ending 31st October 2015, Hewlett Packard Enterprise Services UK Limited reported a turnover of £2,159,331,000, pre-tax profits of £30,183,000 and a total net worth of £592,072,000 (Source: Experian Group 08/11/2016).
(2) The tenant is currently holding over on a 2 1/4 year lease from 26th November 2013 at a rent of £560,000 p.a.x. Terms have been agreed for a new 5 year lease at a rent of £560,000 p.a.x with a tenant option to determine on the 3rd anniversary of the term and is in solicitor's hands expected to complete shortly.
(3) Under the agreed Heads of Terms the tenant is to benefit from a 9 month rent free period from term commencement of the lease. The seller has agreed to adjust the completion monies so that the property will effectively produce £560,000 p.a.x from completion of the sale.