Beacon House Cumberland Business Centre Northumberland Road Portsmouth PO5 1DS. Long Leasehold Investment For Sale

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1 Beacon House Cumberland Business Centre Northumberland Road Portsmouth PO5 1DS Long Leasehold Investment For Sale

2 Investment Summary 3 Long Leasehold Interests known as B1, B2 and B3, Beacon House. The occupational leases are contracted out of the Landlord and Tenant Act Current Rental Income 38,750 pax, with two suites vacant on the market at 7,500 pax each. Rental Growth and Lease Re-gearing opportunities in 2020, Mortgage Source rent rises to 5,500 from year 4. VAT elected. Tenants are a mix of national and local companies: Jamie Bell Physiotherapy, Warwick Estates Property Management Limited, Interserve (Facilities Management) Limited, I Love to Learn Limited, Mortgage Source, Alivo Limited, Agon Distribution Limited. Offers in the region of 575,000 (Five hundred and seventy-five thousand pounds), subject to contract.

3 Location Beacon House, Cumberland Business Centre, Northumberland Road, Portsmouth is the second largest city in the county of Hampshire and a major coastal port situated on the South Coast. It is the UK s only Island City and has a population of over 214,000 (ONS 2016). It is renowned as one of the nation s best known ports and home to the University of Portsmouth and major visitor attractions including the Historic Dockyard, Emirates Spinnaker Tower and Gunwharf Quays. This investment is well situated in an established Business Campus location in Cumberland Business Centre, which is located within Portsmouth, close to the junction of Winston Churchill Avenue, which is approximately 1 mile south of the M275, boosting good transport links with the M27 and the A27. Situation Beacon House is a semi-detached purpose build office building, adjoined to the neighbouring property by a walkway and stairs. Formerly occupied by one business, it consists of 9 interlinked suites capable of separate occupation as it is currently, or else has the connectivity to be occupied by one business. Each office suite has the benefit of designated car parking and is nestled amongst a thriving business community of solicitors, accountants, educators, property management companies and recruitment specialists. Cumberland Business Centre is on the cusp of Southsea, and within 2miles from Southsea Seafront. Also within walking distance of Fratton Railway Station; it provides excellent local and inter city services including London Waterloo (1hr 20mins approx).

4 Description The Long Leasehold investment is a purpose built three storey office building known as Beacon House, in a campus setting, offering flexible office space. It comprises 3 offices per floor, which are capable of being linked or separately occupied and has the benefit of 24 designated car parking spaces within the Estate. Each suite has it s own entrance and WC Facilities. The first floor balcony offers access from two external staircases, and the entries to the second floor offices are gained from this level. The first floor offices benefit from having both ground floor entry and first floor entry options.

5 Tenancy Schedule Tenancy Schedule Tenant Rental Income (pa) Lease Start Lease End NIA Sq Ft (M) B1 Ground Floor Alivo Limited 5,750 01/04/ /03/ (47) B1 First Floor Vacant - On the market Vacant - On the market 487 (45) B1 Second Floor Kevin Norwood 4,500 31/08/ /08/ (59) B2 Ground Floor Jamie Bell Ltd 5,500 11/05/ /05/ (47) B2 First Floor Vacant - On the market Vacant - On the market 487 (45) EPC The property has an EPC Rating of D with a score of 85. A copy of theepc is available on request. Lease summary The leases are effective full repairing and insuring leases, and there is a service charge recovery provision within the lease documents for the recovery of the overall Estate service charge as well as expenditure in relation to common services and charges. B2 Second Floor Interserve (Facilities Management) Limited 5,000 24/07/ /07/ (48) B1 & B2 First Floor has recently been vacated and is available on the market to let. B3 Ground Floor I Love to Learn Limited 6,000 07/06/ /06/ (52) B3 First Floor Agon Distribution Limited 6,000 01/04/ /03/ (53) Mortgage Source Lease has a break option on the 31 st August Interserve (Facilities Management) Limited have a break option on 24 th July Both subject to 6 month s prior written notice. B3 Second Floor Warwick Estates Property Management Limited 6,000 01/05/ /04/ (56) Jamie Bell Physiotherapy have a rolling break option subject to 3 month prior written notice.

6 Tenure This Long Leasehold Investment comprises three Long Leasehold Interests with a term of 127 years (less 3 days) from 30 th September 1988 at a peppercorn rent. The three interests form Beacon House, which are known as B1, B2 and B3, Cumberland Business Centre, Northumberland Road, Portsmouth. Price We are instructed to sell this Long-Leasehold Investments for offers in the region of 575,000 (Five hundred and seventy-five thousand pounds) This property is VAT elected. Viewing Arrangements All arrangements to view must be made by prior appointment with Sole Agents GARNER WOOD on For further information contact Sau-Wan Lai on or sau-wan.lai@garnerwood.co.uk And Clive Garner on or clive.garner@garnerwood.co.uk The property is offered subject to contract, availability and confirmation of details. These particulars do not form part of any contract, and whilst believed to be correct, parties are recommended to satisfy themselves as to their accuracy. The vendors, lessors, or Garner Wood or any person in their employment, cannot make or give representation or warranty whatsoever in relation to this property. July 2018.