Commercial Investment, Lime Kiln Lane, Holbury, Southampton, SO45 2HE
£16.56 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
40,772 sq ft
3,788 sq m
- SECTOR
Light industrial facility for sale
Key features
- Rare freehold opportunity
- Total rental income £50,000
- Attractive Net Initial Yield of 7%
- Good road links
- Low base rent of £1.43 per sq ft on land area
Description
The subject property is situated on Lime Kiln Lane in a rural location and within close proximity to a large residential catchment area. The site benefits from a separate access waste recycling yard which is also accessible from Lime Kiln Lane. Within the site there are a series of open storage units used for sorting, open storage areas and portable cabin structures. The site extends to circa 0.936 acres.
Location
Located in Holbury, on the eastern edge of the New Forest and within the Waterside Parishes it is about 11 miles from Southampton's city centre, near the Fawley oil refinery. The site has good connectivity, with local roads providing access to the M27 motorway, which connects to the UK's broader transport system.
Tenure & Tenancy
The property is owned freehold and is let by way of a lease commencing on 30 September 2019 for a term of 18 years at a passing rent of £50,000 per annum, expiring 29 September 2037. The tenant is New Milton Sand And Ballast Limited.
The lease is subject to tenant break options on 30 September 2026 and 30 September 2031. The lease is drawn on full repairing & insuring terms.
The lease is subject to open market rent review on 30 September 2029 and 2034 on an upward only basis.
See link for further information on the tenant company:
Planning
The site is utilised as a waste transfer site and merchants for aggregates and building supplies. Interested parties should make their own enquiries of the Local Planning Authority regarding uses.
Rateable Value
Rateable Value - £37,750
Source The 2024/2025 small business multiplier is 0.499 (4.99p payable per £1).
Terms
Offers are invited in the region of £675,000 subject to contract for the freehold interest, subject to and with the benefit of the subsisting tenancy as mentioned above.
VAT
The investment will be sold as a Transfer of a Going Concern (TOGC).
Viewing
Formal viewings can be made strictly by appointment with Savills.
Anti Money Laundering Regulations
A successful purchaser will be required to provide the appropriate information to satisfy current AML regulations when Heads of Terms are agreed.
Brochures
Commercial Investment, Lime Kiln Lane, Holbury, Southampton, SO45 2HE
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Netley Station3.6 miles
- Hamble Station3.8 miles
- Sholing Station4.5 miles
Notes
Disclaimer - Property reference 274508-1. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Savills, Southampton. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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