Summary
Ideal purchase for an owner-occupier or property investor.
Location
Bartley Wood Business Park is just minutes from junction 5 of the M3 motorway - one of the least congested junctions on the M3. The motorway gives access to London, Heathrow and the M25 to the east, with Southampton, Basingstoke and Portsmouth to the south west.
Hook benefits from excellent connectivity by rail. The railway station is just a short walk from Bartley Wood Business Park and provides a direct 1-hour service to London Waterloo (every 15 minutes at peak times). Located adjacent to Hook town centre, Bartley Wood Business Park is only a short walk from the towns train station and main shopping area which includes a Tesco supermarket.
Description
Enterprise House sits in the centre of Bartley Wood Business Park enjoying a high-profile setting overlooking Griffin Way, the main spine road thought the park. The property is built over three floors with a secure main entrance and reception adjacent to the private car park. The floors are all a similar size and layout with access from the main reception and lift lobby. As such the building is suited for either single or multi-tenant occupation on a floor by floor basis.
Current specification includes: -
- 129 private parking spaces (ratio of 1 space per 175 sq ft).
- Double height reception area.
- Mature landscaped 1 acre site included front terrace feature.
- Outside seating/break out area.
- Four pipe fan coil air-conditioning.
- Raised access floors.
- Suspended ceilings with recessed lighting.
- Male, female & disabled WCs.
- One 12-person passenger lift.
- Currently occupied and fitted with a mix of open plan and partitioned offices, meeting rooms, board room and staff canteen. (these are tenant’s fixtures and fittings).
The property has Prior Approval for the Change of Use to C3 Residential use ( up to 49 apartments). It is a requirement that the Developer satisfies their obligations under Regulations 75 to 78 of the Conservation of Habitats and Species Regulations 2017 (general development orders) prior to commencement of any development. Currently the local authority control the release of SANG and this is not available for PD conversions on Bartley Wood BP.
Accommodation
| Offices | Sq. ft ( approx.) | Sq. M ( approx.) |
| Ground Floor (including reception) | 7,950 | 738 |
| First Floor | 7,452 | 692 |
| Second Floor | 7,233 | 672 |
| Total | 22,635 | 2,102 |
- 129 private parking spaces.
Tenure/Price
Enterprise House is available to buy on a freehold basis. Enquiries for a letting of the whole building on a new lease will be considered.
The entire property is currently let to Serco Ltd on a Full Repairing lease which expires on 26th June 2020, at a passing rent of £413,500 per annum, subject to an outstanding rent review March 2018.
Note; We have been advised by Serco they will be vacating the whole property prior to the end of their lease. The opportunity may be available for earlier occupation or letting of the whole prior to June 2020.
Price
Offers are invited in the region of £3,750,000 (three million seven hundred and fifty thousand pounds) subject to contract and with the benefit of the current lease to Serco Ltd expiring June 2020.
We understand the property is elected for VAT. It is anticipated that the transaction will betreated as a transfer of a going concern (ToGc).