Residential Investment Balfour House, Winchester, SO23 0LB Guide price £3.25m JJ 16 high quality fully equipped apartments (34 bed spaces) Savills Southampton 2 Charlotte Place Southampton SO14 0TB +44 (0) 23 8071 3900 savills.co.uk JJ Fully let to the University of Winchester from September 2015 to July 2020 JJ Net income £233,111 per annum plus income of £7,880 per annum from car parking Location The Property is located approximately 1.6 km (1 mile) to the north east of Winchester City Centre, approximately 22.2 km (13.8 miles) to the north east of Southampton and 32.0 km (19.9 miles) to the south west of Basingstoke. The city benefits from good road communications, lying adjacent to junctions 9, 10 and 11 of the M3 and the A34 and A31 leading to Newbury and Guildford respectively. Winchester railway station provides a direct mainline service to London Waterloo with a quickest journey time of approximately 1 hour. Description The premises comprises two detached two storey buildings previously used as offices, they were converted to residential in the Summer of 2014 and the first occupations began in September 2014. The building at the front of the site (c.4,774 sq ft) accommodates 12 apartments and 26 bedrooms whilst the building at the back of the site (c.1,563 sq ft) accommodates 4 apartments and 8 bedrooms. The site extends to approximately 0.12 Ha (0.3 acres) and benefits from 16 car parking spaces. Tenure The site is to be sold freehold subject to the occupational lease. Tenancy The property is fully let in to the University of Winchester (from various dates between 5th July 2015 and 12th September 2015) The above costs, including management fees equate to £69,139 per annum, reflecting a net rent of £233,111 (based on a 52 week tenancy). The rent reduces to £290,160 pa if the apartments are occupied for 48 weeks. The University is currently in occupation on a number of short term leases (terminating on various dates). Included in the rent is the following: Accommodation Schedule Unit Block Storey Beds 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Rear Rear Rear Rear Front Front Front Front Front Front Front Front Front Front Front Front Gnd Gnd 1st 1st Gnd Gnd Gnd Gnd Gnd Gnd 1st 1st 1st 1st 1st 1st 2 2 2 2 1 3 2 2 2 3 2 2 3 2 2 2 34 Rent (48 wks) £16,800 £16,800 £16,800 £16,800 £12,960 £25,200 £16,800 £16,800 £16,800 £25,200 £16,800 £16,800 £25,200 £16,800 £16,800 £16,800 £290,160 Rent (52 wks) £17,500 £17,500 £17,500 £17,500 £13,500 £26,250 £17,500 £17,500 £17,500 £26,250 £17,500 £17,500 £26,250 £17,500 £17,500 £17,500 £302,250 Comments Yr 1 rent £14,700 Yr 1 rent £14,000 Yr 1 rent £16,975/£16,800 Yr 1 rent £11,745 JJ All water and sewerage charges Method of Sale Price JJ Broadband internet connection Gas charges The site is offered for sale by private treaty on an unconditional basis. Guide price £3,250,000. JJ JJ Electricity charges JJ Weekly cleaning service JJ Weekly change of bed linen and towels The above costs, including management fees equate to £69,139 per annum, reflecting a net rent of £233,111. In addition to the above, there are 16 no. car parking spaces which are mostly let to the Basepoint Business Centre. The total income received for the car parking is £7,880 pa. The spaces are secured on a one year licence, 10 of which are until April 2016, three of which are until July 2015, one is let to a tenant until March 2016 and two are vacant. The Buyer will be responsible for the payment of Council Tax. Offers should be submitted via email or post to Richard Wickins ([email protected]), Savills, 2 Charlotte Place, Southampton, SO14 0TB. Offers must clearly be marked ‘Balfour House, Winchester’ and be for a fix sum unrelated to any other offer. Please note that the vendor reserves the right not to accept the highest or any offer. All offers must contain the following information: JJ Company Name JJ Offer price to be a fixed sum unrelated to any other offer. JJ Timescale of exchange and completion JJ Proof of funding JJ Solicitors details Viewing Viewings are strictly by appointment. Please contact Julian Bessey at Martin and Co. on 07919 413097 or Richard Wickins on 023 8071 3925 to arrange an appointment. Contacts For further information and viewings, please contact: Richard Wickins [email protected] +44 (0) 23 8071 3925 Julian Bessey [email protected] +44 (0)7919 413097 Colin Wilkins [email protected] +44 (0) 23 8071 3929 The individual leases are available on request. Important Notice Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and Produced by Savills Marketing: 020 7499 8644 | April 2015
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