Industrial for sale in Farnham Road, Holt Pound (Adj Wrecclesham) GU10

Offers in region of £625,000 (£243.47/sq. ft)
Industrial for sale 2,567 sq. ft*
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Property features

  • Rare prominent landmark property currently fully let
  • Detached industrial building (and forecourt area of around 4,550 sq ft)
  • Medium term potential for vacant possession to an occupier for the whole or part
  • Good loading access to both the front and rear of the premises
  • Car sales to the front - care repairs/ servicing and MOTs to the rear

Property description

Location


The New Moon Service Station holds a prominent location situated on the busy A325 Farnham Road connecting the towns of Bordon and Farnham.

The access is good, whereby you can head directly South on the A325 to connect to Bordon and beyond to the A3, and heading North you are within approximately 5 minutes of the A31 linking to the Blackwater Valley Relief Road (A331) and beyond connection the Junction 4 of the M3.


Description


The property comprises a detached Garage/Industrial buildings currently let to two tenants. To the front there is a car sales forecourt which is let together with the small sales office and the smaller workshop located at the front of the building, this part of the property is let to Gerard Thatcher until the 30th September 2023 at a rent of £30,000 pax (we understand that the lessee has underlet to a local sub tenant by the name of Black Swan Garage). We believe that the lease to the main tenant was granted inside the 1954 Landlord and Tenant Act, so the assumption is that the under tenants are likely to benefit from these rights.

The rear workshop which includes a small Hallway/Reception connecting to the front of the building has been let for many years, the last lease was granted to the tenants in 2009 and expired around July 2014, since then the tenants have been paying the rent, and so in our view it is likely that the tenants have a protected tenancy under the provisions of the 1954 Landlord and Tenant Act. The rent being paid for this tenancy is a figure of £22,920 pax.


Accommodation


Measured on a Gross Internal basis.

Car Repair Industrial Building and Store 1,562 ft2 (145.1 m2)
Reception/Hallway 120 ft² ( 11.15 m²)
Front Sales Office and Workshop 885 ft² ( 82.24 m²)
Total Built Area 2,567 ft² (238.49 m²)
Forecourt Approximately 4,500 ft² (418 m²)


Tenants and lease/tenancies

tenancy rent area leased expiry


Until 30th September 2023 £30,000 pax Forecourt, Office & Workshop 30th September 2023
Last lease expired in July 2014, so we assume now a protected tenancy £22,920 pax Rear Workshop & Store, front Reception/Hall We assume 3 months notice from either party
Total Rent
Income £52,920 pax


Rateable value


The current rateable value for the front car showroom and premises is £5,500 which means the rates payable will be around £2,744 payable, and the rear workshop and premises has a Rateable Value of £10,750 which means the rates payable will be around £5,364… Both Rateable Values fall below the £12,000 threshold of the 100% rates relief offered under the provisions of the Small Business Rates Relief Scheme. We understand from our clients business rates are held in the name of the tenants.


Price


The freehold interest of the property is available for sale at a guide price of “Offers in the region of £625,000”.


VAT


We understand from our clients that VAT will not be chargeable on the sale. This will be confirmed by our client’s solicitor at point of instruction.


Legal costs


Each party to pay their own legal costs in the matter.

Energy performance certificate (EPC)
The energy rating is a 250 G.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Clare & Company, GU14 on +44 1252 943894 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Clare & Company, and do not constitute property particulars. Please contact Clare & Company for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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