3 Main Rd 4,748 SF Industrial Condo Unit Offered at $771,375 in Itchen Abbas SO21 1BQ
INVESTMENT HIGHLIGHTS
- Strong transport links via access to M£ motorway
- t. Neighbouring occupiers include Jensons Service, Omnimed, Millgrove Construction and The Great Shutter Company
- Regualr bus service running from Winchester City Centre
EXECUTIVE SUMMARY
Unit 2 forms part the Abbas Business Centre which is located on the B3047 directly behind Itchen Abbas Village Hall. The site is well connected with Winchester City Centre approximately 4 miles to the west and the market town of Alresford approximately 3.5 miles to the east.
PROPERTY FACTS Sale Pending
| Total Building Size | 25,276 SF |
| Property Type | Flex (Condo) |
| Property Subtype | Light Manufacturing |
| Building Class | B |
| Floors | 2 |
| Typical Floor Size | 3,129 SF |
| Year Built | 1990 |
| Lot Size | 0.54 AC |
| Parking Ratio | 0.91/1,000 SF |
AMENITIES
- Security System
- Accent Lighting
- Energy Performance Rating - C
- Automatic Blinds
- Storage Space
- Air Conditioning
UTILITIES
- Gas
- Water
- Heating - Electric
1 UNIT AVAILABLE
Unit Unit 2
| Unit Size | 4,748 SF |
| Price | $771,375 |
| Price Per SF | $162.46 |
| Condo Use | Industrial |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 7.02% |
| NOI | $54,131.59 |
DESCRIPTION
The property comprises a mid-terrace business unit of steel frame construction with lower brick / block and upper clad elevations under a pitched roof incorporating translucent light panels. The premises provide a ground floor workshop with ancillary office, kitchenette and WC facilities plus a range of office accommodation on the 1st floor.
SALE NOTES
Hertfordshire Community Meals Ltd trading as Health & Independent Living Support (HILS) hold a 10-year full repairing and insuring lease from October 2023. The lease is subject to a Schedule of Condition and is drawn outside the Security of Tenure provisions of the Landlord & Tenant Act 1954 part II (as amended). Tenant only breaks are incorporated in October 2026 and 2028 with a rent review in October 2028. The landlord holds a £10,000 deposit with a current passing rent of £40,000 per annum exclusive and no VAT payable. The tenant will shortly be constructing new kitchen Unit 2 Abbas Business Centre, Main Road, Itchen Abbas, SO21 1BQ facilities in the unit which shows their commitment to the property.
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