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Berrington Way 1,800 - 2,129 sq ft Office Units Offered at £315,000 - £325,000 Per Unit in Basingstoke RG24 8GT
Investment Highlights
- Prominent Location
- Parking Options Available
- Great Transport Links
Executive Summary
Prisma Park, Berrington Way is situated just off Wade Road and has easy access to Junction 6 of the M3 motorway via the eastern Ring Road. There is therefore also good access via the A33 to the M4 and Reading. The premises is well placed to benefit from the local shopping facilities at Chineham Shopping Centre and also back into the town centre and therefore to the Railway Station.
2 Units Available
Unit 7
| Unit Size | 2,129 sq ft | Sale Type | Investment |
| Price | £325,000 | Tenure | Freehold |
| Price Per sq ft | £152.65 | Net Initial Yield | 8.70% |
| Unit Use | Office | NOI | £28,275 |
| Unit Size | 2,129 sq ft |
| Price | £325,000 |
| Price Per sq ft | £152.65 |
| Unit Use | Office |
| Sale Type | Investment |
| Tenure | Freehold |
| Net Initial Yield | 8.70% |
| NOI | £28,275 |
Description
Unit 7 provides a modern, self contained, 2 storey office building set within a
courtyard office development comprising 2 terraces totalling 12 individual office
buildings.
Sale Notes
The freehold interest, subject to the tenancy agreements highlighted above, is for sale at a price of £325,000 plus VAT, which reflects a NIY of 8.7% assuming purchaser's costs of 4.5% and reflecting a low capital value of £153 per sq ft
Ground Floor is let to Casala International B.V at a current passing rent of £14,644 pax for a term of 5 years from 21st March 2023, expiring on 20th March 2028 on effective FRI terms.
First Floor is let to Apex Primecare Ltd at a current passing rent of £14,900 pax for a term of 5 years running from 21st April 2023, expiring on 20th April 2028 on effective FRI terms.
Both leases have been contracted outside of the Security of Tenure Compensation Provisions of the Landlord & Tenant Act Part II as amended.
Unit 8
| Unit Size | 1,800 sq ft | Tenure | Freehold |
| Price | £315,000 | Net Initial Yield | 3.00% |
| Price Per sq ft | £175.00 | NOI | £9,438 |
| Unit Use | Office | No. Parking Spaces | 7 |
| Sale Type | Investment or Owner Occupier |
| Unit Size | 1,800 sq ft |
| Price | £315,000 |
| Price Per sq ft | £175.00 |
| Unit Use | Office |
| Sale Type | Investment or Owner Occupier |
| Tenure | Freehold |
| Net Initial Yield | 3.00% |
| NOI | £9,438 |
| No. Parking Spaces | 7 |
Description
The property comprises a modern self-contained 2 story building in a courtyard scheme of similar units. The 1st floor is open plan with the benefit of a vaulted ceiling, and a kitchenette. The 1st floor is also air-conditioned. The ground floor has been divided to provide a large open plan office to the rear, a Board room to the front and an additional store / comms room in the centre. There is central heating throughout the unit and the ground floor benefits from suspended ceilings and fluorescent lighting. A rear fire door at ground floor level could double up as loading access for light deliveries.
The premises benefits from 7 car spaces. Part of the ground floor has been let on an annual license, including 2 car spaces, details on request.
Sale Notes
For sale as Freehold at a reduced price reflecting £315,000 plus VAT.
Also available to let at £27,000 per annum.
Part of the ground floor is let at £9,438 per annum including service charge but of exclusive of utilities and rates.
Interior
Interior
Interior
Property Facts
| Total Property Size | 18,086 sq ft | Typical Floor Size | 8,294 sq ft |
| Property Type | Office | Year Built | 2006 |
| Costar Property Class | B | Total Plot Size | 1.80 ac |
| Floors | 2 | Parking Allocation | 2.27/1,000 sq ft |
| Total Property Size | 18,086 sq ft |
| Property Type | Office |
| Costar Property Class | B |
| Floors | 2 |
| Typical Floor Size | 8,294 sq ft |
| Year Built | 2006 |
| Total Plot Size | 1.80 ac |
| Parking Allocation | 2.27/1,000 sq ft |
Amenities
- Courtyard
- Signage
- Storage Space
- Air Conditioning
Presented by
Berrington Way
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