An attractive three storey terraced period style office building constructed in the late 1980’s with car parking to the rear. Internally the property is presented in a good decorative order.
Location
Ideally positioned in the centre of Aldershot, opposite the Westgate Centre and within walking distance of Aldershot station (Waterloo – fastest journey approximately 45 minutes) and the Tesco Superstore. Road communications are efficient as the property is situated just off the A323 Wellington Avenue which links with the main A325 Farnborough Road less than ½ a mile away. The Blackwater Valley relief road (A331) has north and south communications between Camberley, Farnborough, Aldershot, Farnham and Guildford.
Accommodation
Ground Floor Offices - 1,492 sq ft (138.61 sq mts)
First Floor Offices - 1,413 sq ft (131.29 sq mts)
Second Floor Offices - 1,536 sq ft (142.70 sq mts)
Total Nett Floor Area - 4,441 sq ft (412.60 sq mts)
Terms
LEASE - A new lease was granted to the Midlands Partnership NHS Foundation Trust on 4 September 2020 for a term of approx. 5 years expiring on 30 September 2025. The current rent is £55,500 per annum exclusive on and from 1 October 2023. The lease has been granted outside the Landlord & Tenant Act.
FREEHOLD - The freehold investment of 3-4 Alexandra Terrace is available and with the benefit of the incumbent tenant MPFT as stated above in the sum of £900,000. However, the freeholders are also offering the investment sale of 1 Alexandra Terrace* and 2 Alexandra Terrace* adjoining and where they are seeking £1.76 million (no VAT applicable) for all four investment units and which combined provide a current rental income of approx £112,500.
BUILDING INSURANCE - Annual building insurance premiums on 3-4 Alexandra for the period 1 May 2023 through to 2 May 2024 £1,990 inclusive of property management fees.
SERVICE CHARGE - The landlord runs an estate service charge for maintaining the common parts of the estate and this is currently running at £2,400 per annum and which has remained at the same level for the past 15 years.
RATES - Rateable Value £46,000 – UBR £ 51.2p (2023/2024)
LEGAL COSTS - Each party to pay their own legal costs incurred in the transaction.
AML - In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.
Specification
- Carpeting throughout
- Gas Fired Central Heating
- Tiled Ladies & Gents Toilets
- Burglar & Fire Alarm
- Wall & Ceiling Lighting
- 10 Car Parking Spaces
- Kitchen Facility
- Cellular & Open plan offices