Industrial for sale in Stake Works, Invincible Road Industrial Estate, Farnborough GU14

Key Points

Description

Stakeworks comprises a 12,125 sq ft industrial estate consisting of 8 self-contained units. The property provides ground floor storage accommodation suitable for a range of uses. Externally each unit benefits from parking along with a covered loading area. The units are constructed from a steel portal frame in a single terrace, and each unit ranges from 775 sq ft to 1,550 sq ft, with the exception of Unit 6 which extends to 3,600 sq ft along with a secure yard.

There is also a unit and associated yard located to the rear of the site which has been sold off on a sublease to Armishaws Removals. The site extends to 2.02 acres in total, including the area sold off on a sub lease to Armishaws Removals.

Location

Invincible Road is the primary industrial and trade centre location in Farnborough. Nearby occupiers include Wickes, Howdens, Screwfix, Travis Perkins, B&Q and Dunelm. Farnborough town centre is within a 5 minute walk from Stakeworks. Access to Junction 4 of the M3 is 3 miles to the north, providing access to London, the M25 (J12 - 11 miles) and to the national motorway network. Heathrow Airport is situated 19 miles to the north east, and Farnborough railway station is 1.5 miles away with regular direct services to London Waterloo.

Tenure

The property is held on a 125 year lease from 1st June 1970, and therefore has 71 years unexpired. The ground rent payable is £10 per annum, and the freeholder is Rushmoor Borough Council. There is a nominal ground rent payable by Armishaws Removals.

The freeholder, Rushmoor Borough Council, have indicated they would be open to granting a lease extension subject to re-gearing ground rent and/or payment of a premium. Further details on enquiry.

Tenancy

The property is subject to a number of occupational tenancies for a weighted average unexpired lease term of 1.92 years. The current passing rent is £141,263 per annum (£10.64 psf overall average) including a tenancy at will to ThinkOne for a strip of land included within the leasehold title behind the terrace of units.