Savoy Place occupies an island site on Farnborough Road at its intersection with Union Road.
Prior to being redeveloped the site was previously occupied by The Ham and Blackbird public house.
The completed property now comprises 62 apartments across 2 detached blocks; providing 51 private units and 11 affordable units across the two buildings. Each block benefits from its own passenger lift serving each floor and access to the underground parking below.
All 62 units benefit from some private outdoor space in the form of either a terrace or a balcony.
The private units comprise 18x 1-bed apartments and 33x 2-bed apartments, while the affordable units comprise 7x 1-bed and 4x 2-bed apartments.
The commercial unit on the ground floor extends to 2,059 sq. ft and is trading as ‘Nisa Local’ which benefits from passing trade accessing the railway station and leading into the town centre.
The property benefits from 69 underground car parking spaces which are accessed via controlled access off Farnborough Road.
Location
The Property is located in the centre of Farnborough; in the Rushmoor district of Hampshire. The property is within walking distance of The Meads Shopping Centre; with amenities including Asda, Vue Cinema, Boots, various gyms and a number of cafes and restaurants.
Farnborough is renowned as a popular business hub and for its airport, which caters for private business/executive aviation and hosts the popular Farnborough International Air Show.
The property is located 19 miles south-east of Reading and 34 miles south-west of central London.
Accommodation
The site extends to 0.669 acres (0.027ha)
Terms
Proposal
Offers are invited for the Freehold interest
Tenure
The property is held freehold under title number HP440212.
Services
The property is for sale on behalf of Joint Administrators. Buyers should therefore make their own enquiries regarding services.
EPC
All residential units hold an EPC rating of B.
VAT
The VAT position is to be confirmed.
Legal Costs
Each party to be responsible for their own costs incurred in the transaction.
Specification
- Freehold Residential Investment Opportunity
- Located adjacent to the station in Farnborough, a popular commuter hub close to the M3 motorway and less than 15 miles from the M25 motorway
- New build development comprising 62 apartments across 2 separate blocks
- 11 affordable units (4 sold on long leasehold basis)
- 69 Parking Spaces
- Part let to Newham Borough Council at a current passing rent of £1,136,610pa
- Ground floor commercial unit trading as ‘Nisa Local’ producing £25,000pa