5 - 7 London Street Basingstoke Hampshire RG21 7AB

  • 5 - 7 London Street<br>Basingstoke<br>Hampshire<br>RG21 7AB

5 - 7 London Street
Basingstoke
Hampshire
RG21 7AB

Freehold Retail Investment

  • First time on the market since 1960
  • Entirely let to Post Office Limited
  • New 5 year lease renewal from September 2018 (no breaks)
  • Tenant in occupation for over 12 years
  • Approximately 11,540 sq ft
  • Prominent position adjacent to NatWest bank with Zizzi, McDonald’s and Lloyds, HSBC and RBS banks all nearby
  • Pedestrianised location in popular Hampshire town
  • Lot
    35
  • Auction
    5th December 2018
  • Rent
    £107,000 per Annum
  • Status
    Sold
  • Price
    £1,225,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of the Goldsmiths Company Charity
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Freehold Retail Investment

  • First time on the market since 1960
  • Entirely let to Post Office Limited
  • New 5 year lease renewal from September 2018 (no breaks)
  • Tenant in occupation for over 12 years
  • Approximately 11,540 sq ft
  • Prominent position adjacent to NatWest bank with Zizzi, McDonald’s and Lloyds, HSBC and RBS banks all nearby
  • Pedestrianised location in popular Hampshire town
  • Lot 35
  • Auction 5th December 2018
  • Rent £107,000 per Annum
  • Status Sold
  • Price £1,225,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of the Goldsmiths Company Charity

Property Information

Location
Miles
16 miles south of Reading, 32 miles north of Southampton
Roads
A33, M3
Rail
Basingstoke Railway Station
Air
London Heathrow Airport
Situation

The property is prominently situated on the southern side of the pedestrianised Market Place, in the heart of the town centre. Nearby occupiers include the adjoining NatWest bank with Zizzi, McDonald’s and branches of HSBC, Lloyds and RBS banks all nearby. Joices Yard car park is a short walk away with car parking for approximately 60 cars.

Tenure

Freehold.

Location
Miles
16 miles south of Reading, 32 miles north of Southampton
Roads
A33, M3
Rail
Basingstoke Railway Station
Air
London Heathrow Airport
Situation

The property is prominently situated on the southern side of the pedestrianised Market Place, in the heart of the town centre. Nearby occupiers include the adjoining NatWest bank with Zizzi, McDonald’s and branches of HSBC, Lloyds and RBS banks all nearby. Joices Yard car park is a short walk away with car parking for approximately 60 cars.

Tenure

Freehold.

Description

The property comprises a post office on the ground floor, with office accommodation (sublet with subtenant NatWest Bank holding over) on the first and second floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

EPC Rating Band C. See legal pack at acuitus.co.uk

Description

The property comprises a post office on the ground floor, with office accommodation (sublet with subtenant NatWest Bank holding over) on the first and second floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

EPC Rating Band C. See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor Use
Floor Areas (Approx)
 Tenant Term Rent p.a.x
Ground
First
Second		 Post Office/Ancillary
Offices
Offices
511.05 sq m
487.73 sq m
73.30 sq m
(5,501 sq ft)
(5,250 sq ft)
(789 sq ft)
 POST OFFICE
LIMITED (1)		 5 years from 28/09/2018
on a full repairing and
insuring lease		 £107,000
Total
1,072.08 sq m
(11,540 sq ft)
     £107,000

(1) For the year ending 26th March 2018, Post Office Limited reported a turnover of £1,031,000,000, pre-tax profits of £8,000,000 and a total net worth of -£61,000,000 (Source: Experian Group 02/11/2018). The first and second floors of the property were sublet to National Westminster Bank Plc. The sublease has expired and the tenant is holding over.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Forsters LLP 31 Hill Street
London
W1J 5LS
Matthew Swainston 020 7863 8463matthew.swainston@forsters.co.uk  Peter Selwyn 020 7863 8458peter.selwyn@forsters.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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