- Floor area 8,450 sq. ft
Description Key Points
Detached 8,450 sq ft office/data centre investment.Let to Ltd to 19th July 2027.Let at a low rent of Â£111,000 pax ( Â£13.13 per sq ft).Current office rents on Ancells bp circa Â£16.00 to Â£17.50 psf.Upward only rent review and tenants break 20th July 2022.Fri Lease outside the L&T Act 1954.Secure site with 52 car spaces.
Aspen House comprises a self-contained detached modern two storey office building with it's own private parking for up to 52 cars.
The building is occupied by Ltd ( Co Reg 3214053) as a data centre and office HQ. Ltd provide private cloud, hosting and connectivity solutions, Experian provide a "Below Average Risk" credit score for the company. The tenant has fitted out the ground floor as a data centre, whilst the first floor is used as open plan offices with a number of meeting rooms.
The tenant has installed a significant power supply of up to 1.5MW (500kva), and there is fibre broadband connectivity of up to 10GB. Additionally the tenant has installed a ups system, with three external back-up generators housed in a secure fenced area within the car park.
Aspen House is located fronting the M3 motorway, within Ancells Business Park, one of the premier Business Parks on the M3 motorway. Ancells Business Park is home to several blue chip companies and organisations such as Murata, Keysite Technologies, Boeing Defence UK, Compassion UK and Rohde & Schwarz.
Road communications are excellent, with J4a of the M3 being just 3 miles distant. Fleet mainline railway station is only one mile from the building (with half hourly services to London Waterloo and a journey time of approximately 50 minutes).
The entire building is let to Ltd ( Company Reg No 3214053), who have been in occupation since 2007. The lease, which is on a Fri basis and outside the Landlord and Tenant Act 1954, is for a term expiring on 19th July 2027. The rent is at a very low passing rent of Â£111,000 per annum exclusive (Â£13.13 per sq ft).
There is an upward only rent review in July 2022, together with an tenants option to determine the lease at the same date. The tenant benefits from a 3 month rent free period from 20th July 2022.
The freehold is offered for sale subject to and with the benefit of the lease to Ltd.
Offers are invited in the region of Â£1,700,000 (one million seven hundred thousand) for the investment, which after an allowance of purchase costs at 5.85%, shows an initial yield of 6.83%.
VAT is payable on the purchase price.
Strictly by appointment through Hurst Warne
Peter Richards View more View less