Freehold Ground Rent of approx. 0.67 Ha (1.64 Acres)
Unexpired term of 114 years
Let to Grospher Investments Ltd until April 2138 with 2018 Rent Review outstanding
Let to T Ware Developments Ltd until April 2138 with 5 yearly Open RPI Rent Reviews
Located within well established industrial estate
VAT Free Investment
Lot 12
Auction 25th September 2024
Rent £47,000 per Annum Exclusive
Status Available
Guide* £1,100,000
Sector Ground Rent
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4.5 miles west of Portsmouth, 11 miles east of Southampton
Roads
M27, A27.
Rail
Fareham Railway Station
Air
Southampton Airport
Situation
The property is situated within the well established Fort Fareham Industrial Estate just off Newgate Lane (B3385).
Tenure
Freehold.
Location
Miles
4.5 miles west of Portsmouth, 11 miles east of Southampton
Roads
M27, A27.
Rail
Fareham Railway Station
Air
Southampton Airport
Situation
The property is situated within the well established Fort Fareham Industrial Estate just off Newgate Lane (B3385).
Tenure
Freehold.
Description
The property comprises a site of approximately 0.67 Ha (1.64 Acres) upon which sits two office buildings, car parking and a series of arches.
VAT
VAT is not applicable to this lot.
Description
The property comprises a site of approximately 0.67 Ha (1.64 Acres) upon which sits two office buildings, car parking and a series of arches.
VAT
VAT is not applicable to this lot.
Tenancy & Accommodation
Plot
Site Area Approx. Ha
Site Area Approx. Acre
Tenant
Term
Rent p.a.x.
Review
Reversion
Plot 3A
0.67
(1.64)
GROSPHER INVESTMENTS LIMITED
125 years from 05/08/2013
£22,000
05/08/2018 and 5 yearly (1)
04/08/2138
Plot 3C
0.17
(0.41)
T WARE DEVELOPMENTS LIMITED
116 years from 11/04/2022
£27,000
01/12/2025 and 5 yearly thereafter (2)
04/08/2138
(1) The rent reviews are to Open Market and negotiations for the 2018 rent review remain ongoing, further details are available within the legal pack. (2) The rent reviews are open RPI linked reviews compounded annually.
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.
