Commercial property consultants London Clancy have recently sold two long leasehold investments in Basingstoke:
Acting on behalf of a private client, London Clancy has sold the long leasehold investment in Sites 14 and 15 Armstrong Road, Basingstoke.
The ground lease had some 134 years left unexpired and rent reviews are at a gearing of 13.5% of rents receivable subject to a minimum.
The total site area is circa 1.46 acres.
Tenants include; Hertz (UK) Ltd, Brown Brothers Distribution Limited, Cyclotech Limited, ICTV Sales and Services Ltd. The permitted uses are for B1,B2 and B8 purposes. The occupational leases are on an effectively FRI basis.
The Price achieved is confidential but the quoting price was £2m plus VAT which showed a yield of 10%.
The agents acting for the Purchaser were Ellis and Partners based in Bournemouth.
Also on behalf of a private client, London Clancy has sold the long leasehold mixed investment in 1/1A Whitney Road, County House, Sites 12 and 13 Armstrong Road, Basingstoke.
The ground leases had some 134 years left unexpired and rent reviews were on the basis of bare site value or if redeveloped 13.5% of the full rental value of the redevelopment.
The total site area is circa 1 acre.
Tenants include; C Brewer and Sons Ltd (Trading as Cane Adam), Southern Roofline Supplies, Servio Ltd and Speedy Tool Hire. The occupational leases were on effectively Fully Repairing and Insuring basis.
The Price achieved is confidential but the quoting price overall was in excess of £700,000 plus VAT. The yield achieved was circa 9.6%.
The agents acting for the Purchaser were Ellis and Partners based in Bournemouth.
