Apollo Motor Group have completed the acquisition of a new ten year lease on the former Frazer depot on Stroudley Road, Basingstoke.
The depot comprises approximately 15,000 sq ft (1,394sq m) of ground floor and 7,000 sq ft (650sq m) mezzanine space at a headline rental of £78,000 per annum exclusive.
The building, located on a secure one acre site, came to the market in the spring this year, and Apollo acquired a change of use planning consent to accommodate their proposed use.
Martin Tice of Vail Williams LLP, agents for the Apollo Motor Group said: “Despite the ongoing uncertain economic climate the availability of a secure self contained industrial site in Basingstoke on a site of one acre is a rare animal, and this was one of very few suitable opportunities for Apollo. The negotiations have however taken some time and required co-operation between Landlord and Tenant and the Local Authority as planning department and superior Landlord”.
Graham Eyles of Apollo Motor Group said “We are delighted to have secured this new facility, which will enable us to drive the expanding business forward in the medium to long term. There are very few opportunities of this type within Basingstoke and the surrounding area.” Vail Williams acted for Apollo Motor Group and Hollis Hockley acted for Saint Gobain Building Distribution.
