Property Type	Development (Land & Buildings) / Investments / Offices
Tenure	For Sale
Size	5,166 sq ft
Price	Offers from £750,000
Energy Performance Rating	This property has been graded as D (82)

OFFICE FOR OWNER OCCUPATION / INVESTMENT WITH DEVELOPMENT POTENTIAL (Subject to Planning)

Location

Kingsclere is an affluent village on the North Hampshire/ Berkshire borders and has direct access on the A339 Trunk Road which links the A34 at Newbury and the M3 at Basingstoke. Distances to nearby towns include Newbury approx. 7 miles, Basingstoke approx. 9 miles and Thatcham approx. 5 miles, and lies between the M3 and M4 corridors.

Overton Railway station is approximately 5 miles distant providing a frequent service to London Waterloo (1 hour journey time), or 45 min journey time from Basingstoke Railway Station.

The premises are located on Swan Street, which is in the heart of Kingsclere. The village offers an array of amenities including, shops, pubs and cafes.

Key Points

• • Positive Pre-application response (July 2021) for part demolition and conversion to 3 houses, and a new build detached block of 4 residential flats.
• • 0.45 acre site in the heart of Kingsclere
• • Rare freehold opportunity of potential interest to investors & developers
• • Affluent North Hampshire village location 7 miles to Newbury, 9 miles to Basingstoke (M3 – J6)
• • Good array of local village amenities nearby
• • Further development potential (subject to planning + overage)
• • No empty rates liability on Listed buildings
• • Part Income Producing

Description

The main building comprises an attractive 2 storey building with part roof space conversion. The building has been let for use as offices for many years and now comprises multi-let individual office suites.

Behind the main building there are three separate outbuildings which have been separately let.

The site comprises approx. 0.45 acres, mainly tarmacked and used for car parking for the offices.

The site sits within a conservation area.

Terms

Guide price of £750,000 subject to contract, for the freehold interest with the benefit of the leases in place. Offers to be made on the basis of additional overage provision (basis of overage to be agreed).

Accomodation

The approximate areas of the property are as follow:-

Ground Floor 1,932 sq ft 179.48 sq m
First Floor 1,965 sq ft 182.55 sq m
The Gallery 444 sq ft 41.24 sq m
The Studio 472 sq ft 43.84 sq m
Garages 353 sq ft 32.79 sq m
Total 5,166 sq ft 479.9 sq m

Occupational Leases

The current leases are on flexible terms, with rolling mutual break clauses subject to a notice period.

A tenancy schedule is available upon request. Total current retail income is understood to be £15,413.75 per annum with potential to further add value or increase by letting vacant space.

Planning/Development

Our clients approached Basingstoke & Deane Borough Council for Pre-Application advice for the partial demolition of the existing building, its conversion to 3 no. town houses and the construction of 4 no. residential flats. The pre-application response received in July 2021 is deemed as positive (subject to certain parameter / further information being provided). A copy is available upon request