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Garage / Industrial Investment, New Moon Service Station, Farnham Road, Holt Pound, Wrecclesham, GU10 4LA

2,567 Sq Ft / Industrial

Sold - Last updated: 23 November 2021

The property comprises a detached Garage/Industrail building currently let to two tenants.  To the front there is a car sales forecourt, which is let together with the small sales office and the smaller workshop located at the front of the building, this part of the property is let to Gerard Thatcher until 30 September 2023 at a rent of £30,000 pax (we understand that the lessee has underlet to a local sub tenant by the name of Black Swan Garage).  We believe that the lease to the main tenant was granted inside the 1954 Landlord and Tenant Act, so the assumption is that the under tenants are likeyl to benefit from these rights.  The sublease is let at the same rent as the lease granted from Gerard Thatcher ie. £30,000 per annum.

The rear workshop which includes a small Hallway/Reception connecting to the front of the building has been let for many years, the last lease was granted to the tenants in 2009 and expired around July 2014, since then the tenants have been paying the rent, and so in our view it is likely that the tenants have a protected tenancy under the provisions of the 1954 Landlord and Tenant Act.  The rent being paid for this tenancy is a figure of £22,920 pax.

Location

The New Moon Service Station holds a prominent location situated on the busy A325 Farnham Road connecting the towns of Bordon and Farnham.

The access is good, wherby you can head directly South on the A325 to connect Bordon and beyond to the A3 and heading North you are within approximately 5 minutes of the A31 linking to the Blackwater Valley Relief Road (A331) and beyond connection the Junction 4 of the M3.

Accommodation

Measured on a Gross Internal Basis

Car Repair Industrial Buidling and Store                          1,562 sq ft   (145.1 sq m)

Reception /Hallway                                                             120 sq ft    (11.15 sq m)

Front Sales office and Workshop                                        885 sq ft   (82.24 sq m)

Total Built Area                                                                 2,567 sq ft  (238.49 sq m)

Forecourt (approximatley)                                                  4,500 sq ft  (418 sq m)  

Terms

The Freehold Interest of the Property is available for sale at for "Offers in the region of £550,000".

VAT

We understand from our clients that VAT will not be chargeable on the sale.  This will be confirmed by our client's solicitor at point of instruction.

LEGAL COSTS

Each party to pay their won legal costss in the matter

Specification

  • RARE PROMINENT LANDMARK PROPERTY CURRENTLY FULLY LET
  • DETACHED INDUSTRIAL BUILDING AND FORECOURT AREA OF AROUND 4,550 SQ FT
  • MEDIUM TERM POTENTIAL FOR VACANT POSSESSION TO AN OCCUPIER FOR THE WHOLE OR PART WITHIN THE MEDIUM TERM
  • GOOD LOADING ACCESS TO BOTH THE FRONT AND REAR OF THE PREMISES
  • CAR SALES TO THE FRONT - CAR REPAIRS/SERVICING and MOTs TO THE REAR


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