Freehold Office Investment in Historic City Location
Located within close walking distance of Bath’s historic city centre
Nearby occupiers include Riverside Health Centre, Bath Spa Dentistry and
Sainsbury’s
On-site car parking and garage space
Future residential revelopment potential (subject to consents)
Six Week Completion Period
Lot 14
Auction 23rd February 2012
Rent £174,292 per Annum Exclusive
Status Sold
Price £955,000
Sector Office
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On Behalf of Rugby Estates
Property Information
Location
Miles
0.6 miles from Bath Spa Railway Station, 12 miles east of Bristol
Roads
A4, A367
Rail
Bath Spa Rail
Air
Bristol Airport
Situation
The property is situated in a prominent corner location on the southern side of James Street West, at its junction with Norfolk Buildings and Stanhope Place within walking distance of Bath city centre and its principal office area. Nearby occupiers include Riverside Health Centre, Bath Spa Dentistry, Sainsbury’s and Green Park Offices which houses Prestige Nursing, Rowan Dartington and
Withy King Solicitors.
Tenure
Freehold.
Location
Miles
0.6 miles from Bath Spa Railway Station, 12 miles east of Bristol
Roads
A4, A367
Rail
Bath Spa Rail
Air
Bristol Airport
Situation
The property is situated in a prominent corner location on the southern side of James Street West, at its junction with Norfolk Buildings and Stanhope Place within walking distance of Bath city centre and its principal office area. Nearby occupiers include Riverside Health Centre, Bath Spa Dentistry, Sainsbury’s and Green Park Offices which houses Prestige Nursing, Rowan Dartington and
Withy King Solicitors.
Tenure
Freehold.
Description
The property comprises a self-contained office building over ground and mezzanine floors. In addition, there is a single storey office annex adjoining to the front. The main building benefits from open plan accommodation, comfort cooling and central heating. The site also benefits from on-site parking for 3 cars and garage space for 2 cars.
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 self-contained office building over ground and mezzanine floors. In addition, there is a single storey office annex adjoining to the front. The main building benefits from open plan accommodation, comfort cooling and central heating. The site also benefits from on-site parking for 3 cars and garage space for 2 cars.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Alexander House
Ground Mezzanine
Office Office
401.59 sq m 310.43 sq m
(4,323 sq ft) (3,341 sq ft)
THE REAL ADVENTURE MARKETING COMMUNICATIONS LIMITED(1)
10 years from 01/04/2007 on a full repairing and insuring lease (2)
£159,292.50
01/03/2012 (2)
Annexe
Ground
Office
89.63 sq m
(965 sq ft)
INDIVIDUAL t/a Bath Natural Health Clinic (3)
5 years from 15/05/2007 on a full repairing and insuring lease (4)
£15,000
(14/05/2012) (4)
Totals
801.65 sq m
(8,629 sq ft)
£174,292.50
(1) For the year ending 31st March 2011, The Real Adventure Marketing Communications Limited reported a turnover of £4,309,000, pre-tax profits of £431,000 and a total net worth of £882,000. (Source: www.riskdisk.com 27/01/2012) (2) The lease contains a tenant’s option to determine on 01/04/2012. The tenant’s have exercised their option. (3) Bath Natural Health Clinic was established in 1986 and offers one of the widest ranges of complementary and alternative therapies in the area. (Source: www.bathnhc.com 27/01/2012) (4) The tenant has indicated to the seller that they wish to extend their lease (5) A schedule of dilapidations has been prepared by the seller, a copy of which is available for inspection from the auctioneers.
