Location
Alton is an established market town in East Hampshire, offering a range of local amenities including supermarkets, independent retailers, cafés, restaurants and leisure facilities. The town benefits from good road connectivity, with the A31 providing access towards the wider Surrey area to the east, and Winchester to the west. Alton railway station also provides regular services to London Waterloo via the South Western Railway network.
The property is situated on Selborne Road (B3006), immediately adjacent to the busy A31 (c. 22,000 daily traffic flows), providing excellent accessibility towards Farnham, Guildford and Winchester. The A31 also connects with the A331, providing onward access to the M3 and wider motorway network.
Property Description
A two-storey detached property of brick and stone construction, incorporating timber boarding to the façade and covered by a variety of roof types with a single storey addition at the front. The property benefits from a large 2.952 acre site.
Accommodation
The configuration of the property is included in the floor plans on page 6, note these are indicative of the layout, for the correct room descriptions refer to the virtual tour below:
Ground Floor - Reception area, various consultancy rooms, wards, staff room, offices and various ancillary areas.
First Floor - Specialist wards, operating theatres, prep rooms and various ancillary areas.
External - Grassed exercise area, temporary cabins for office space and consultancy and parking for 75 vehicles.
Tenure Comments
The property is held freehold and will be let to CVS (UK) Limited (Company Number 03777473) on a brand new 15 year FRI lease (subject to a Schedule of Condition) with no breaks.
The commencing rent will be £125,000 per annum with five yearlycompounded rent reviews on an upwards only basis in accordance with RPI at a collar of 1% and a cap of 3%.
Business Description
Covenant Strength
CVS (UK) Limited is a private limited company that serves as the primary operating and trading engine behind CVS Group plc, one of the largest integrated veterinary services providers in the United Kingdom. The business has been in operation for over 25 years and currently operates 423 veterinary practices across the UK.
We have carried out due diligence on the current financial capabilities of the tenant and can confirm that they are considered of an undoubted covenant strength able to meet their lease obligations. We detail below a summary from external analytical companies of their opinion on the company.
CreditSafe
Tenant Accounting Year Credit Rating
CVS (UK) Limited 01/11/2025 A-93
Turnover Credit Limit Pre-Tax Profit
£464,889,000 £9,600,000 £58,266,000
The property will be let to an established operator with excellent covenant strength. The tenant holds a CreditSafe rating of A - 93 (Very Low Risk), reflecting a highly stable financial position. This strong risk profile is underpinned by robust turnover, consistent profitability, and a substantial credit limit, providing an investor with highly secure, predictable income.
Experian
Experian credit risk score: 100. Risk classification: Very Low Risk.
Guide Price
We are instructed to invite offers in excess of £1,793,500 (7.5% NIY) assuming purchaser's costs of 7.21%.
The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.
VAT
VAT is applicable on the sale of the property.
EPC
An EPC has been requested.
Viewings
All viewings are strictly by appointment only.
