Unit 1C, 132 Weyhill Road, Andover, SP10 3BE

Overview

Description

Location

Description

Andover is a town in the county of Hampshire. The town is on the River Anton, a major source of the Test, and is situated alongside the major A303 trunk road at the eastern end of Salisbury Plain, 18 miles west of the town of Basingstoke, both major rail stops. Andover is the HQ of the British Army. The property is located in a densely populated area close to major employers and on a busy road.

Nearby users include Halfords, Autocentre, Dentist, Fish and Chip Shop & Tesco Express.

The property is a centre terrace unit forming part of a local mixed use development.
Note: The proposal is to sell Unit 1C, the Hot Food retail unit which has the right to two allocated parking spaces and the freehold of the common areas / car parking.

Accommodation

Gross Internal Area 833 Sq Ft 77.35 Sq M

EPC Text

Asset Rating - C (67)

Rating

Rateable Value £7,400
Source https://www.gov.uk/find-business-rates
Calculator: https://www.gov.uk/calculate-your-business-rates
*If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.

Terms

Offers considered in the region of £180,000 subject to contract for the freehold interest subject to and with the benefit of the subsisting tenancy as outlined above.

A purchase at this level shows an attractive net initial yield of 8% after allowance for usual buyer's costs at 3.94%.

Note: The proposal is to sell Unit 1C, the Hot Food retail unit which has the right to two allocated parking spaces and the freehold of the common areas / car parking.

The property is let by way of a lease for a term of 15 years from 11th November 2013 at a passing rent of £15,000 per annum, expiring 10th November 2028.

The lease is subject to open market upward only rent reviews every 5 years.
The lease is drawn on full repairing & insuring terms.
The tenant is 'Papa John's (GB) Ltd'. The tenant operates circa 524 stores across the UK as a mix of franchises & operated outlets.
Shareholder Equity 2023 £18,175m.