Commercial property for sale in Southern Road, Basingstoke RG21

Offers over £700,000 (£138.37/sq. ft)
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Commercial property for sale 5,059 sq. ft*

Property description

Key Points

  • For Sale Freehold
  • Current Rental Income is £50,000 per annum exclusive
  • Currently let to European Tyre Enterprise Limited t/a Kwik Fit
  • Front Parking Area for Customers and Employees - accommodating approximately 18 parking spaces
  • VAT is applicable
  • Description

    The subject property is currently being used as an auto centre based predominantly on the ground floor, with there being an internal mezzanine at first floor level. The current tenant is trading as Kwik Fit, who have been trading from this site since 1991 .

    A brief summary of the current lease terms are below:

    - Tenant: European Tyre Enterprise Limited t/a Kwik Fit (company number 07545003, shareholders’ funds at 31st March 2021 stated as £50,751,800)
    - Lease Term: 10-year lease term from 31st January 2020
    - Annual Rent: £50,000 per annum exclusive payable quarterly in advance
    - Break Option: Tenant only break option on 30th January 2025, subject to 6 months prior written notice, up to date payment of annual rent + VAT and vacant possession being provided.
    - Rent Review: Upwards only to the greater of the passing rent or the Open Market Rental Value with a rent review date of 31st January 2025.
    - Full Repairing and Insuring (Fri) lease
    - Permitted Use: Auto centre for the sale, supply storage and fitting of tyres, exhausts, batteries, shock absorbers, clutches, brakes, radiators, oil filters and steering parts together with other motor components, mot testing, servicing and vehicle repair and maintenance and for such other purposes as the landlord may approve (such approval not to be unreasonably withheld or delayed)
    - The lease is inside the security of tenure provisions within the Landlord and Tenant Act 1954. There are 2 Licences to Alter.


    All viewings shall be arranged in advance via Curchod & Co.


    Basingstoke is well located approximately 48 miles from Central London and 32 miles from the Port of Southampton an the south coast. The town is approximately 13 miles south of Reading, 15 miles south west of Blackwater Valley towns, 20 miles east of Andover.


    VAT is applicable.

    Property info

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

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    London Clancy, RG21 on +44 1256 700043 * (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 London Clancy, and do not constitute property particulars. Please contact London Clancy 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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