RG24 Newton Court, Rankine Road, Basingstoke

Newton Court industrial estate comprises a total of 19,559 sq ft of warehouse/industrial accommodation within two terraces totalling 4 self-contained units. Each unit provides good quality office accommodation over ground and first floors, together with staff welfare facilities arranged at ground floor level.

Externally the estate is well landscaped and provides a good car parking provision to each unit.

Investment Summary

* Low Capital Value £138 psf (disregarding mezzanines)

* Long occupational leases expire in 2034 & 2035

* 98 years unexpired lease term and a low 15% gearing

* Rare opportunity to acquire an unbroken industrial estate in Daneshill Industrial Estate, Basingstoke.

* Within in the same ownership since the estate was developed in early 2000's

* Comprising four units total (terrace of three units plus a single detached unit)

* Site area of approx. 1.3 acres with excellent car parking ratios

* Fully income producing [£259,344 pax]

* Built to a high specification around 2000

* Generous eaves heights

* Asset management potential with future reversion

* Basingstoke represents a strong regional centre approximately 45 miles south west of central London

* Basingstoke population circa 185,000

* Excellent communication links to M3, M4 corridors and Thames Valley

* Low asset management being four units and let to 3 tenants

Tenure

The property is held by way of a 125 year Long Leasehold interest from Basingstoke & Deane Borough Council, granted from the 21st September 1999, expiring 20th September 2124 (98 years unexpired). The lease is subject to five yearly reviews geared to 15% rack rental value of the individual units on rent receivable and the next rent review being 3rd June 2029. The 3rd June 2024 review was settled at £33,535 per annum (payable quarterly in advance). The permitted user for purposes specified in Class B1, B2 or B8 of the Town & Country Planning (Use Classes Order) 1987.

Proposal

Offers are invited in the region of £2,700,000 subject to contract and exclusive of VAT, which reflects an attractive 8.36% Gross Yield, based on a total net rent position reflecting £225,809 after deduction of ground rent.

Basingstoke is an established South East commercial centre located approximately 49 miles south west of central London, 18 miles south of Reading and 31 miles north east of Southampton. Basingstoke has a population of approximately 185,000.

The town has excellent ring road links being served by the M3 motorway at Junctions 6 & 7, which provides direct access to the M25 (26 miles), London to the North East, and Southampton to the South West, whilst the A33 provides access to Reading and the M4 motorway to the north (Junction 11 - 15 miles distant).

Basingstoke town centre is approximately 2 miles to the south east and provides a regional centre for shopping/entertainment and restaurants with the highly acclaimed Festival Shopping Centre at the heart. Basingstoke mainline railway station provides an excellent rail service into London Waterloo timetabled in just 44 minutes. Other direct services include Reading (15 minutes) and Oxford (44 minutes). Basingstoke is served by Heathrow Airport only 36 miles to the north east, and Southampton Airport only 30 miles to the south west. The Port at Southampton is also easily accessible within a 40 minute drive time.

Basingstoke is home to telecoms, computing, financial, manufacturing firms, including Sony, AA, Linde, Fyffes, Berry Bros & Rudd, Honeywell Plc, Fujitsu, De La Rue, Lavazza and AECOM.