Unit 1, Solent 27 Walton Road Portsmouth PO6 1UJ

Unit 1, Solent 27 Walton Road
Portsmouth
PO6 1UJ

Freehold Office and Warehouse Investment

Prominent office/warehouse close to the A27
Let to Menzies Distribution Limited until 2029 (1)
0.9 acres with on-site car parking and a yard
Within 2 miles of the M27 and A3(M)

Lot
4
Auction
26th March 2020
Rent
£133,432 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN
On the Instructions of The Duchy of Cornwall

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Freehold Office and Warehouse Investment

Prominent office/warehouse close to the A27
Let to Menzies Distribution Limited until 2029 (1)
0.9 acres with on-site car parking and a yard
Within 2 miles of the M27 and A3(M)

Lot 4
Auction 26th March 2020
Rent £133,432 per Annum Exclusive
Status Sold Post
Price
Sector
Industrial, Warehouse
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
Marble Arch
London W1H 7TN
On the Instructions of The Duchy of Cornwall

Property Information

Location

Miles: 3 miles north of Portsmouth city centre; 23 miles south-east of Southampton; 36 miles south of Guildford; 41 miles west of Brighton
Roads: A27, A3, M3, M27, M275, A2080
Rail: Cosham & Hilsea
Air: Southampton Airport, Gatwick Airport

Situation

The property is located 3 miles north of Portsmouth city centre on the Walton Road Industrial Estate and 300 metres from the A27 (Havant bypass roundabout). The A27 in turn connects to the M27 (2 miles to the west) and the A3(M) (2 miles to the east). The A3(M) provides direct access to London 60 miles to the north. The property is situated on Walton Road, close to its junction with the A2080 Eastern Road with nearby occupiers including Snows Mazda, Burras, SSE, Pall Corporation and Holiday Inn.

Tenure

Freehold.

Location

Miles: 3 miles north of Portsmouth city centre; 23 miles south-east of Southampton; 36 miles south of Guildford; 41 miles west of Brighton
Roads: A27, A3, M3, M27, M275, A2080
Rail: Cosham & Hilsea
Air: Southampton Airport, Gatwick Airport

Situation

Tenure

Freehold.

Description

The property comprises a detached office/warehouse with car parking and a rear yard. The office accommodation is arranged over ground and first floors. The warehouse benefits from an eaves height of approximately 7m and three roller shutter doors, together with a canopy over the loading area. The yard area benefits from an entrance and an exit. Site Area approximately 0.9 acres.

VAT

VAT is applicable to this lot.

EPC

Band C. See legal pack at www.acuitus.co.uk

Description

VAT

VAT is applicable to this lot.

EPC

Band C. See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First	Office/Warehouse	1,529 sq m	(16,679 sq ft)	MENZIES DISTRIBUTION LIMITED (2)	10 years from 06/12/2019 on a full repairing and insuring lease (1)	£133,432	06/12/2024
Total		1,529 sq m	(16,679 sq ft)			£133,432

(1) Tenant's option to determine in the 5th year upon 9 months' written notice.
(2) For the year ended 31st December 2018, Menzies Distribution Limited reported a turnover of £937,300,000,
pre-tax losses of -£22,700,000 and a net worth of £30,000,000 (Source: Experian 26/02/2020).
The tenant's business involves distributing over 30 million newspapers and magazines weekly to almost 25,000 retailers in the UK and Ireland. Menzies Distribution operates from more than 60 locations across the UK and Ireland. (Source : www.menziesdistribution.com)

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.