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.
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.
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)
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
Income £52,920 pax
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.
The freehold interest of the property is available for sale at a guide price of “Offers in the region of £625,000”.
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.
Each party to pay their own legal costs in the matter.
Energy performance certificate (EPC)
The energy rating is a 250 G.