Summary
Substantial vacant retail unit with 1st & 2nd floor offices
Location
The premises are situated in a prominent location in the pedestrianised London Street “upper old town” area of Basingstoke. Nearby occupiers include Zizzi Italian Restaurant, McDonalds, Gascoigne Pees, Up & Running, Bet Fred and Natwest to name but a few. The Festival Place shopping centre is within a few minutes walk, as are the Local Authority car parks.
Basingstoke is a major centre for commerce and industry in North Hampshire with a borough population of approximately 180,000. The mainline Basingstoke railway station is within a 10 minute walk which provides a fast and frequent direct service to London Waterloo (timetabled at approximately 45 minutes), Junction 6 of the M3 motorway is approximately 11/2 miles distant.
Terms
Guide Price of £525,000, subject to contract, for the freehold interest and with the benefit of the subject lease of the first floor expiring 16th July 2024.
Occupational Lease
The first floor offices are subject to a lease renewal granted from 17th July 2019 for a term of 5 years expiring 16th July 2024 to Adecco UK Limited (Company Reg No. 00593232) at a rent of £14,000 per annum exclusive. The tenant is to pay the landlord a fair proportion towards the cost of repairs and external common parts and management.
There is an upwards only rent review and tenant’s option to determine at the 3rd anniversary of the term (16th July 2022) on giving not less than 6 months notice.
Adecco are based in Zurich, Switzerland and are one of the world’s largest human resources provider and with a substantial network of UK offices with representation in most major towns and cities.
Offices let to Adecco UK Limited (expiry July 2024)
Residential development potential (subject to planning and vacant possession)
The property is not elected for VAT
Listed Features
- Parking
- Development
- Residential Development
