docMajor office refurbishment and development
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Major office refurbishment and development
Major office refurbishment and development opportunity normandyhouse-basingstoke.co.uk ENTER normandyhouse-basingstoke.co.uk Executive Summary • Prominent location in the heart of Basingstoke town centre • Vacant office building totalling 76,364 sq. ft (NIA) with 283 on-site car parking spaces • Significant refurbishment, development and change of use opportunity subject to necessary consents • Freehold or long leasehold for sale Home Location The Building Tenure Asset Management Opportunities Additional Information Contact normandyhouse-basingstoke.co.uk Vyne Basingstoke The Malls Shopping Centre Alencon Li nk ine L’Alleud Rd Bra Al ng View Basi trop Roundabo ut Eas The Anvil Concert Hall Churchill Way Chu eet Str rch Festival Place Shopping Centre Vue Cinema BASINGSTOKE erla Timb click to enlarge trop Eas St.Michael’s Church ad an Goat L e e ne Location Map The Building Communications Tenure Aerial Asset Management Opportunities La rop East o ke R Squa r rch u h C CGI of proposed Waitrose & John Lewis at Home store Home A3010 A3010 Churchill Way ut Bas ing Rd eud ’All L e in e Bra ton Terrac Clif Wintert hur Wa y k Lin en c o n ew Vi Festi val W ay Vyne R d lace an P B un n i el oa ll The property is also conveniently o u n A339 located to the A33, and dabo within 2 miles of Junction 6 of the M3 providing a direct motorway link to the M27 (South Coast), A303 (West Country) and the A34 (Midlands). R The property is situated to the north of the 1 million sq ft Festival Place Shopping Centre which benefits from 200 shops, Vue Cinema, Basingstoke sports centre and a full range of restaurants, cafes and bars. Skyline Plaza residential development lies to the south and the new 73,000 sq ft Waitrose & John Lewis at Home store (currently under construction) is situated immediately to the east. The Anvil concert hall is within a short walking distance. The property is within 100 metres of Basingstoke railway station. The station provides a fast and regular commuter service to London Waterloo (46 minutes) and direct services to other regional and national destinations including Reading (16 minutes), Southampton Central (31 minutes) Victory and Woking (18 minutes). A3010 ap Hi The property occupies a prominent town centre location in the heart of Basingstoke approximately 51 miles south west of Central London. Basingstoke is an established office location connected to Reading (18 miles), Southampton (31 miles) and Newbury (16 miles). Ch Place n nia Bun Rd Location Additional Information Contact W Rd n o t g Darlin Ch el nnian u B Hi ll k Lin F E way l W ay Ring va i t es er ast b Tim New ke Roa d Road New St n Road o d n Lo Lo New Road Bl a Bounty Road Home Location Map The Building Communications Tenure Aerial Asset Management Opportunities So ut h click to return Dam W k c Additional Information a ay A30 y Essex Ro ad A3010 Eastrop Park BASINGSTOKE Road A339 Way l l i h c r u Ch Churchill Way la normandyhouse-basingstoke.co.uk w Basing Vie Basingstoke Alencon 0 d Basing View Place ap d Roa Vyn e ss Rd e g r u B a Ro y sle Gre ay East Ringw en Que venue A y Mar Contact C P normandyhouse-basingstoke.co.uk London Waterloo Oxford, Birmingham and the North Bath, Bristol, South Wales and the West Country Vauxhall Queenstown Road Reading Reading West Woking Guildford By Road Mortimer Bristol, Exeter & South West Farnborough Basingstoke Southampton Airport Parkway Micheldever To Weymouth & South Wales Fareham Location Map The Building Communications Clapham Junction M3/M25 Junction Southampton Central Heathrow Airport Gatwick Airport West End Eastleigh Southampton Central Home By Rail Reading Southampton Airport Parkway Guildford London Waterloo Portsmouth and Southsea New Malden Bramley Communications Cosham 37 mins 44 mins 49 mins 1h 17 mins 1h 24 mins Portsmouth & Southsea Tenure Aerial 16 mins 22 mins 33 mins 46 mins 1h 9 mins Asset Management Opportunities Additional Information Contact normandyhouse-basingstoke.co.uk 1 5 Local Occupiers & Amenities 2 8 9 POINTS OF INTEREST A Basingstoke Train Station B Waitrose / John lewis C Skyline Plaza D Crown Heights E The Malls Shopping Centre F Festival Place Shopping Centre G Vue Cinema H The Anvil Concert Hall 3 6 C B 7 D G F LOCAL OCCUPIERS 1 The AA 2 Thales 3 ENI Group 4 AXA 5 Network Rail Training Centre 6 Sun Life 7 Barclay’s 8 Unum Insurance 9 Penningtons Manches Home E A H Location Map 4 The Building Communications Tenure Aerial Asset Management Opportunities Additional Information Contact normandyhouse-basingstoke.co.uk Description The property occupies a prominent site on the corner of Bunnian Place and Alencon Link. The site extends to approximately 1.328 acres (0.55 hectares) and comprises a vacant office building of 76,364 sq ft (NIA) together with a 283 space multi-storey car park. The property was constructed in the mid 1980’s and comprises reinforced concrete framed construction with brick elevations configured in a L-shape around a central core. The property has a ‘west’ wing over lower ground, ground and 8 upper floors, and a ‘south’ wing over lower ground, ground and 4 upper floors. The dedicated car parking at the rear of the property provides 283 secure parking spaces (a ratio of 1 space per 266 sq. ft) and is accessed off Alencon Link. The property provides the following specification: • Large double height reception • Suspended and perimeter HVAC • Floor-to-ceiling heights between 2.4m and 2.7m • Slab-to-slab height is 3.3m approx • Suspended ceilings • 3 compartment underfloor trunking • 4 x 13 person passenger lifts • 283 car parking spaces Home Location The Building Description Tenure Accommodation Asset Management Opportunities Additional Information Contact normandyhouse-basingstoke.co.uk Accommodation The property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and provides the following approximate net internal floor areas: Floor Eighth Seventh Sixth Fifth Fourth Third Second First Ground Reception Lower Ground Total WEST WING sq m sq ft 2182,344 4244,566 5545,963 5545,963 93210,030 1,017 10,952 1,01710,952 9219,918 8949,628 41437 521 5,611 7,09376,364 (not including common parts) MALE WC FEMALE WC SOUTH WING Home LIFT LIFT LIFT LIFT Location DIS. WC The Building Description Tenure Accommodation Asset Management Opportunities Additional Information Contact normandyhouse-basingstoke.co.uk Tenure The property is held freehold (Land Registry Number HP764269). The approximate extent of the freehold ownership is shown outlined in red on the OS plan extract. The vendors will consider offers on a freehold and long leasehold basis. E The Building PLAC Location NTS LEME ST C USE HO NIAN In a sale for continued office use, the car park will form part of the sale. In the event of a sale for alternative use, the car park may be retained by the Council with agreed car parking spaces leased to the purchaser. Home THE QUEEN’S ARMS PUBLIC HOUSE BUN The property is subject to a long leasehold (Land Registry Number HP399238) for a term of 150 years from 1st October 1984, leaving an unexpired term of circa 120 years at a rent payable of 15.5% of the aggregate net annual rents received by the long leaseholder. The sale will be conditional on the Council retaining a vehicular/pedestrian right of way over the property to the car park and adjacent property. The approximate extent of this right of way is shaded in blue on the OS plan extract. ALENCON LINK Tenure Asset Management Opportunities Additional Information 0m 10m 20m 30m Contact normandyhouse-basingstoke.co.uk Asset Management Opportunities The property provides a wide range of excellent short term and long term asset management opportunities subject to the necessary consents which include; • A comprehensive refurbishment for continued office use to create modern flexible office accommodation. Office rents in the vicinity for newly refurbished accommodation are achieving in excess of £16.00 per sq ft. •A wider redevelopment of the property for alternative use subject to the necessary planning consents. •T he opportunity to increase the floor area by adding additional floors to the south wing and above the multi-storey car park at the rear of the property. • A ‘permitted development rights‘ opportunity. The long leaseholder has submitted a PDR application under Class J and Part N of the Town and Country Planning (General Permitted Development) (Amendment) (England) Order 2013 for the change of use from offices (B1a) to 153 flats (C3). The reference is 15/00526/GPDOFF Home Location The Building Tenure Asset Management Opportunities Additional Information Contact normandyhouse-basingstoke.co.uk Additional Information PLANNING The property is situated within the jurisdiction of Basingstoke and Deane Borough Council and falls within the designated town centre boundary. USE The current designated use of the property falls within Class B1 (a) of the Town and Country Planning (Use Classes) Order 1987. RATING ASSESSMENT The property has a rateable value under the 2010 list of £569,000. VAT The freehold and long leasehold interest has been elected for VAT purposes. EPC The property has an energy performance rating The vendors will accept offers which include a of E (115). The full certificate can be found in the sales and planning overage structure. A suitable data room. mechanism will be agreed to recognise the value uplift associated with change of use and DATA ROOM redevelopment. Further details are available at www.normandyhouse-basingstoke.co.uk where the following information can be found: • Title registers and plans • Head lease • Existing floor plans • PDR Application • EPC Home Location The Building SALES PROCESS The freehold or long leasehold interest is offered for sale by way of an informal tender on both an unconditional and conditional (subject to planning) basis. Tenure The vendors reserve the right not to accept the highest or any offer. A bid submission template and further details can be found in the data-room. Offers are invited by midday on Tuesday, 31st March and to be submitted to; FOA Claire Linnell Lambert Smith Hampton United Kingdom House, 180 Oxford Street, London W1D 1NN T 020 7198 2042 E [email protected] Asset Management Opportunities Additional Information Contact Contact Us For further information, and to arrange an inspection, please contact one of the following: Claire Linnell Lambert Smith Hampton 0207 198 2042 [email protected] Harry Gittoes Lambert Smith Hampton 0207 198 2316 [email protected] Andrew Newman Hollis Hockley 01256 489800 [email protected] normandyhouse-basingstoke.co.uk PRINT Subject to Contract and Exclusive of VAT © Lambert Smith Hampton February 2015 Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents Hollis Hockley LLP (LSH and HH) give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or HH or the seller or landlord and do not constitute the whole or any part of an offer or contract.(ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use of occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH or HH has any authority to make or give any representation of warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or HH or its employees or agents, neither LSH or HH will be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information that any statement or information has been made or given fraudulently by LSH or HH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impression or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning the views, character, or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH or HH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters. Designed and produced by Zest Design & Marketing (020 7079 3090), February 2015 (01445). Home Location The Building Tenure Asset Management Opportunities Additional Information Contact
