The Long Leasehold investment is a purpose built three storey office building known as Beacon House, in a campus setting, offering flexible office space.
It comprises 3 offices per floor, which are capable of being linked or separately occupied and has the benefit of 24 designated car parking spaces within the Estate.
Each suite has its own entrance and WC facilities.
The first floor balcony offers access from two external staircases, and the entries to the second floor offices are gained from this level.
The first floor offices benefit from having both ground floor entry and first floor entry options.
Location
Portsmouth is the second largest city in the county of Hampshire and a major coastal port situated on the South Coast. It is the UK’s only Island City and has a population of over 214,000 (ONS 2016).
It is renowned as one of the nation’s best known ports and home to the University of Portsmouth and major visitor attractions including the Historic Dockyard, Emirates Spinnaker Tower and Gunwharf Quays.
This investment is well situated in an established Business Campus location in Cumberland Business Centre, which it is located within Portsmouth, close to the junction of Winston Churchill Avenue, which is approximately 1 mile south of the M275, boosting good transport links with the M27 and the A27.
Accommodation
B1 Ground Floor - 507 sq ft
B1 First Floor - 487 sq ft
B1 Second Floor - 527 sq ft
B2 Ground Floor - 511 sq ft
B2 First Floor - 487 sq ft
B2 Second Floor - 515 sq ft
B3 Ground Floor - 565 sq ft
B3 First Floor - 570 sq ft
B3 - Second Floor - 607 sq ft
Terms
Tenancy Schedule & Lease Summary - For a detailed view of the tenancy schedule & lease summary, please see attached brochure.
EPC - The property has an EPC Rating of D with a score of 85. A copy of the EPC is available on request.
Tenure - This Long Leasehold Investment comprises three Long Leasehold Interests with a term of 127 years (less 3 days) from 30th September 1988 at a peppercorn rent. The three interests form Beacon House, which are known as B1, B2 and B3, Cumberland Business Centre, Northumberland Road, Portsmouth.
Price - We are instructed to sell this Long-Leasehold Investments for offers in the region of £575,000. This property is VAT elected.
Specification
- Investment Summary
- 3 Long Leasehold Interests known as B1, B2 and B3, Beacon House.
- The occupational leases are contracted out of the Landlord and Tenant Act 1954.
- Current Rental Income £38,750 pax, with two suites vacant on the market at £7,500 pax each.
- Rental Growth and Lease Re-gearing opportunities in 2020, Mortgage Source rent rises to £5,500 from year 4.
- VAT elected.
- Tenants are a mix of national and local companies: Jamie Bell Physiotherapy, Warwick Estates Property Management Limited, Interserve (Facilities Management) Limited, I Love to Learn Limited, Mortgage Source, Alivo Limited, Agon Distribution Limited.
- Offers in the region of £575,000, subject to contract.