Acting on behalf of a private landlord London Clancy has sold the investment of 10 Ridgeway Parade, Church Crookham.
The premises comprising a total of 675 sq ft of ground floor retail/ancillary space let to a long established takeaway business as well as a first and second floor maisonette have been sold on a long leasehold basis.
The shop premises trading as Happy Fountain renewed for a term of 21 years, expiring 28th September 2034 with 3 year upwards only rent review patterns and without break options. The current passing rent is £16,100 per annum exclusive (including the current ground rent).
The quoting price was £240,000 for the freehold interest.
“We were delighted by the level of interest generated in this small lot and encouraged by the price achieved which clearly reflected the unbroken term remaining and 3 year review pattern,” reported Russell Ware of London Clancy.
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Acting on behalf of Basingstoke and Deane Borough Council, London Clancy has successfully let Unit 5 Bear Court, Basingstoke RG24 8QT.
The latest letting has seen local company Acrospire Products Ltd expand into the 2,000 sq ft mid-terrace unit.
The estate, which comprises 7 units continues to remain very popular among a variety of new and growing businesses.
Russell Ware of London Clancy commented, “we achieved the full quoting rent of £16,000 per annum, on the basis of a 5 year lease. Supply levels are still running at an all-time low, which are no doubt driving forward rents”.
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On behalf of a private client, London Clancy has sold a 0.66 acre site within Chawton Near Alton, known as Little Eastfield Holding.
The site has convenient access onto the A31 Winchester to Guildford road and the A339 Selborne Road.
The subject site comprises small industrial buildings on a unique parcel of land. The clients achieved a planning consent for demolition of the existing buildings and a new purpose built 5,000 sq ft B1 unit.
The guide price for the site was £350,000 and attracted interest from a range of parties, including owner occupiers and developers.
Russell Ware commented, “this represented a very rare opportunity to acquire a parcel of Freehold land which created a significant amount of interest from a range of different sectors. We were pleased to conclude the sale to a local firm of contractors, who intend to use the site for their own occupation”.
Angling Direct plc has signed a 10-year Lease of 1B Cathedral Hill Trading Estate, Guildford.
This will be their 26th branch acquisition, and the premises extend to about 5,500 ft2, plus mezzanine floor. The space has been completely refurbished by the landlord and fitted out by the tenants.
This latest deal continues Angling Direct’s UK-wide expansion and follows other recent acquisitions in Birmingham, Peterborough, Preston, Slough, Wigan and Wilmslow.
Angling Direct’s retained property advisor, Bastin Commercial, acted jointly in the acquisition with London Clancy’s Basingstoke office. Kingstons and Lambert Smith Hampton (Guildford) acted for the Landlord. CBRE also act for the Landlord as their Managing Agents.
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JIM LONDON FRICS