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4 Bridge St 1,366 sq ft 63% Let Office Property Andover SP10 1BH £325,000 (£237.92/sq ft)

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INVESTMENT HIGHLIGHTS

  • Located in a busy position in Bridge Street
  • Just off Andover High Street
  • Close to several town centre car parks

EXECUTIVE SUMMARY

Offers invited in the region of £325,000 which will show a purchaser a net initial yield, once the second floor offices have been let, of about 8.94% after deducting purchaser's costs at 1.75% and SDLT.
GROUND & FIRST FLOORS
Let to Grilled Cheese Cafe Ltd [Company Number 11636499] on a 10 year effectively FRI lease from 17/12/2019 - 16/12/2029 subject to a non-downward rent review on 17/12/2024 [not activated], at a current rent of £22,000 pax [VAT is not currently charged] and with security of tenure excluded at the end of the term.
SECOND FLOOR
Offices to let at £675 per month [VAT is not currently charged] plus business rates and electricity for the office suite together with a share of the electricity, gas & water to the common parts.

PROPERTY FACTS Sale Pending

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
1,366 sq ft
Costar Property Class
B
Year Built
1901
Price
£325,000
Price per sq ft
£237.92
Occupancy Rate
63%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
838 sq ft

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • USE
  • CONDITION
  • AVAILABLE
  • 2nd Floor
  • 506 sq ft
  • Office
  • Partial Fit-Out
  • Now

To be let for a period to be agreed at a monthly fee, payable by standing order, which will include: rent; buildings insurance; cleaning of the common parts; and maintenance of boiler, fire alarm & fire extinguishers. The tenant will be responsible for their own business rates [which should be zero with Small Business Rate Relief], refuse collection, electricity to the suite which is sub-metered, together with 37% of the electricity, gas and water to the common parts. There will be a deposit of one month’s fee and the monthly fee will be subject to an annual RPI increase from 01 January each year.

Space Size Space Use Condition Available
2nd Floor 506 sq ft Office Partial Fit-Out Now

2nd Floor

Size
506 sq ft
Space Use
Office
Condition
Partial Fit-Out
Available
Now

2nd Floor

Size 506 sq ft
Space Use Office
Condition Partial Fit-Out
Available Now

To be let for a period to be agreed at a monthly fee, payable by standing order, which will include: rent; buildings insurance; cleaning of the common parts; and maintenance of boiler, fire alarm & fire extinguishers. The tenant will be responsible for their own business rates [which should be zero with Small Business Rate Relief], refuse collection, electricity to the suite which is sub-metered, together with 37% of the electricity, gas and water to the common parts. There will be a deposit of one month’s fee and the monthly fee will be subject to an annual RPI increase from 01 January each year.

  • Listing ID: 35184751

  • Date on Market: 19/03/2025

  • Last Updated:

  • Address: 4 Bridge St, Andover SP10 1BH

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