Prominent Multi-let Retail and Office Investment with Medium Term Development Potential for Conversion & Extension to Residential

Key Points

• Current gross income reflecting £62,825 pax
• Potential to increase to circa £84,750 pax, with reversion and letting of 2nd Floor Suite
• August 2022 Letting of 1st Floor Suite to a leading Marketing Agency Bark Like A Big Dog Ltd establishing a new improved rental tone reflecting £15.47psf.
• Recent Landlord Cap Ex Investment into common parts and office suites

Description

Access House is a mixed retail and office building, over 4 storeys. The ground floor retail unit is fully self-contained from the upper floor offices (over 1st, 2nd & 3rd floors). The offices are accessible via glazed double entrance doors. The communal lobby / reception was fully refurbished in 2015.

There is a passenger lift servicing all floors, together with shared WCs. The current configuration is one suite on the 1st Floor, two suites of offices and a shared kitchen on the 2nd floor, and one suite of offices on the 3rd floor with a unique balcony / roof terrace.

There are 3 car parking spaces to the rear of the property. The property is prominent, and constructed using modern brick elevations under a pitched artificial slate covered roof. The upper floors benefit from exceptional natural light with double glazed windows across the front and rear of the property facing Joices Yard “pay and display” / permit car park.

Location

Basingstoke is North Hampshire’s principle commercial centre, supporting a borough population of 180,000 people. Communications are vital to the continuing growth of the town, with excellent links to the national rail network via a highly efficient internal ring road system and with fast direct rail services to London Waterloo (45 minutes).

Access House occupies a commanding position towards the ‘lower end’ of Church Street, within Basingstoke’s ‘upper town area’, adjacent to the Festival Place Shopping Centre.

Joices Yard public car park is situated behind the property, providing easy access onto the town centre’s one-way system.

Tenant Summaries (Tenancy Schedule - See page 6)

Wessex Children’s Hospice Trust t/a Naomi House – Naomi House first opened in 1997 to offer care and support to children who were not expected to live until adulthood. The charity has coverage of Hampshire, Dorset, Berkshire, Surrey etc. and beyond.

Bark Like a Big Dog Ltd - North Hampshire digital marketing company, lead generation, branding & content creation agency targeting the SME market.

Pertemps Ltd – Pertemps Network Group Limited were founded in 1961 providing permanent, contract, and temporary staffing solutions for private and public sectors in the UK and internationally.

Access plc - are experts in managed IT services and established 25 years with additional offices in London, Sheffield and Phoenix.

VAT

The building is elected for VAT purposes, and we envisage any disposal would be by way of a Transfer of a Going Concern (TOGC).

Development Potential

Our clients have commissioned HRP Architects LLP to survey / measure the building. Two schemes were proposed for conversion of the upper parts based on either studio/1 bed apartments or a mix of studio / 1 & 2 bed apartments under PDR. No planning work has been undertaken. Plans available upon request.

Anti Money Laundering

To comply with Anti Money Laundering regulations, Curchod & Co undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.