Unit D Meadow View Business Park, Winchester Road, Upham, Southampton, SO32 1HJ

Description

Meadow View Business Park is located within the South Downs National Park on the edge of the village of Upham. The site is accessed via a private road off B2 117 Winchester Road, providing connections to Winchester and Bishops Waltham and in close proximity to the B3037 junction leading to Fair Oak. The location offers convenient access to the M27 motorway with junction 7, 5.6 miles southwest and the M3 leading north to Winchester and Basingstoke.

The property comprises an open plan office building with a mezzanine 1st floor and benefits from fibre broadband, perimeter trunking, air conditioning (heating and cooling). The building itself comprises of clad elevations under a pitched roof. The site also benefits from having the rights to 8 allocated car parking spaces.

Accommodation

Ground Floor1,417 sq.ft 131.55 sq.m
First Floor653 sq.ft 60.75 sq.m
Total2,070 sq.ft 192.30 sq.m



Planning

Interested parties are advised to make their own enquiries.

EPC Text

Asset Rating - B

Rating

Rateable Value £25,500
Source - voa.gov.uk
The 2021/2022 small business multiplier is 0.499 (49.9 payable per £1). This determines what business rates are payable.

Terms

Offers sought at a guide price of £490,000 exclusive of VAT (if applicable) subject to and with the benefit of the subsisting occupational tenancy detailed above.

A purchase at this level reflect a net initial yield of 7% after allowance of usual purchaser's costs at 4.66%.

This reflects an attractive capital value per sqft of £234 based on our net internal areas.

Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.

The Property is let to Primary Financial Solutions Ltd, for a term of 10 years commencing the 7th July 2021, with a rent commencement date of 7th November 2021.

The lease is drafted on full repairing and insuring terms at a passing rent of £36,000 PAX with a tenant's option to break at 7th January 2029, subject to six months written notice. There is an upwards only open market rent review on the 5th anniversary of the lease.
The lease is excluded from the security of tenure provisions of the Landlord and Tenant Act 1954, sections 24-28.

A rent deposit deed is in place for one quarters rent.

There is an estate service charge for maintenance of the common areas, further details to be provided.
( Agency Pilot Software Ref: 3734 )