Stake Works, Invincible Road Industrial Estate, Farnborough, GU14 7QU

Summary

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.

Key Points

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.

Location