Industrial for sale in Glasshouse, Basing View, Basingstoke RG21

Key Points

Description

The current owners are soon to secure planning consent for a 7 storey, high specification Fibonacci Architects designed office building and decked car parking with 90+ car spaces. Historically, the site also benefited from planning permission for a new 137 bedroom hotel, although this consent has now lapsed.

Because of the site’s strong attributes in terms of location and visibility, the site could suit multiple redevelopment options, to include retail/trade, car showroom, roadside, residential (btr Co-Living), hotel, retirement, ev charging station, medical, children's' nursery (STPP).

The site comprises approximately 0.5 acres (0.2 hectares) and offers a precast concrete and steel reinforced frame, which is decked offering part lower level. The site is accessed via the lower tier of Basing View, with an ‘easy’ exit route directly onto Churchill Way East.

Location

Basingstoke is 45 miles to the south west of London adjacent to Junctions 6 & 7 of the M3 Motorway. The M4 and Reading can be easily accessed via the A33. There is also a frequent rail service to London Waterloo, timetabled at 45 minutes. Basingstoke is a major centre for commerce and industry with many national companies located here and it benefits from a diverse range of leisure, recreational and shopping facilities with a Borough population of approximately 180,000.

The Glasshouse site is situated as a gateway site to the lower tier of Basing View and directly opposite the John Lewis/Waitrose food store. The site offers high visibility and prominence onto Churchill Way East in the heart of the town centre, close to the Anvil Theatre, Festival Place/Malls Shopping Centres and train/bus stations.

Viewings

Strictly by appointment through the joint sole agents.

Terms

The site is For Sale Long Leasehold for the original term being 125 years from 1st April 1983 with a tenant option to extend the lease upon expiry for a further 26 years (reflecting 110 unexpired). The current ground rent reflects £11,250 per annum exclusive, and is subject to 5 yearly upward only review patterns, subject to a 15% gearing of the demised premises (parcel of land comprising 0.56 acres) rent achievable. The current owners are in discussions with the freeholders Basingstoke & Deane Borough Council with regard to regearing / extending the term and widening the Permitted User Clause(s).