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17 Priestley Rd
Basingstoke RG24 9JP
Industrial Property For Sale
Investment Highlights
- Fenced/Gated secure site comprising approx. 2.46 acres
- Fast and easy access to junction 6 of the M3 motorway (approximately 2 miles), and the A33 Reading Road (approximately 3 miles)
- Popular and well established Houndmills Industrial Estate
Executive Summary
The Long Leasehold interest is for sale at a guide price of £5 million plus VAT, benefitting from full vacant possession, provided upon completion.
The long leasehold interest was re-geared for a new term of 150 years on 1st September 2016, which expires on 31st August 2166 (approximately 140 years unexpired). The current ground rent payable reflects £68,340 per annum exclusive, and is subject to 5 yearly upward only rent reviews, calculated to the higher of 20% of the open market rental value (excluding Unit 2) or 55% of the bare site rental value (assuming certain disregards). The next rent review is due on 1st September 2026. The permitted user clause within the ground lease allows for B1/B2 and B8 of the former Use Classes Order 1987, which allows for light industrial, offices, R&D, heavy/general industrial and storage and distribution.
The long leasehold interest was re-geared for a new term of 150 years on 1st September 2016, which expires on 31st August 2166 (approximately 140 years unexpired). The current ground rent payable reflects £68,340 per annum exclusive, and is subject to 5 yearly upward only rent reviews, calculated to the higher of 20% of the open market rental value (excluding Unit 2) or 55% of the bare site rental value (assuming certain disregards). The next rent review is due on 1st September 2026. The permitted user clause within the ground lease allows for B1/B2 and B8 of the former Use Classes Order 1987, which allows for light industrial, offices, R&D, heavy/general industrial and storage and distribution.
Property Facts
| Sale Type | Investment or Owner User | Rentable Building Area | 79,231 SF |
| Tenure | Long Leasehold | No. Stories | 3 |
| Property Type | Industrial | Year Built | 2000 |
| Property Subtype | Manufacturing | Tenancy | Single |
| Building Class | B | Parking Ratio | 0.56/1,000 SF |
| Lot Size | 2.30 AC | No. Drive In / Grade-Level Doors | 2 |
| Sale Type | Investment or Owner User |
| Tenure | Long Leasehold |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 2.30 AC |
| Rentable Building Area | 79,231 SF |
| No. Stories | 3 |
| Year Built | 2000 |
| Tenancy | Single |
| Parking Ratio | 0.56/1,000 SF |
| No. Drive In / Grade-Level Doors | 2 |
Amenities
- Security System
- Yard
- Reception
- Automatic Blinds
- Air Conditioning
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