Units 1 & 2 Paragon Court

Tongham Road, Aldershot, GU12 4AA

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Property Type Warehouse & Industrial
Tenure For Sale
Size 9,842 sq ft
Price £750,000 OIRO
Business Rates Upon Enquiry
Energy Performance Rating Upon enquiry

Industrial unit/s on self-contained site

Key Points

  • Currently operating as 2 separate industrial units
  • Secure yard / car parking
  • Generally presented in good order
  • Future development possibilities

Available area

The accommodation comprises of the following

NameBuilding typeSq ftSq m
Unit - Unit 1 Industrial / Warehouse 5,967 554.35
Unit - Unit 2 Industrial / Warehouse 3,875 360
Total 9,842914.35

Description

Paragon Court currently provides 2 separate industrial units of 3,875 and 5,967 sq ft, which were previously occupied as a single overall building, and capable of single use in the future.

The building occupies a self-contained plot of circa 0.68 acres on the Blackwater Way Trading Estate, with easy access to the A331 at the Aldershot intersection (within half a mile) and within approx 1.5 miles of the town centre.

Unit 2 (front) comprises a factory area with separate offices to the front, and with a side storage building, with Unit 2 (rear) providing a factory area with side offices, with both buildings having loading door access off the yard area.

The site is self-contained, and capable of full security fencing, if required.

Unit 1 is currently held under a lease terminating 20 September 2022 (but potentially available for occupation at an earlier date), with Unit 2 held under a lease unit 31 December 2022. The lease on Unit 1 creates an income of £32,000 pa (circa £5.00 psf, with the lease on Unit 2 creating an income of £23,500 pa (approx £6.00 psf).

The premises are held under a ground lease from Rushmoor Borough Council for 99 years from 31 December 1971, at a current ground rent of £22,500 pa.
Rushmoor Borough Council have indicated that they are interested in a ground lease restructure (subject to negotiation).

As such, the site offers opportunities for onward investment, or for partial / full occupation.

For long term development possibilities, it should be noted that the adjoining site may also be available (further details upon application).

Price

Offers in the region of £750,000 for the benefit of the ground leasehold interest, and subject to the existing rents payable of £55,500 pa exclusive, but with ground rent payable to RBC of £22,500 pa (net existing income £33,000 pa).

Business Rates

Unit 1 - Rateable value £37,250 pa / Rates payable £19,072 pa
Unit 2 - Rateable value £24,250 pa / Rates payable £12,416 pa

Legal Costs

Each party to meet their own costs incurred in the transaction.

EPC

Unit 1 - F (150)
Unit 2 - E (111)

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