Major office refurbishment and development

Major office refurbishment
and development opportunity
normandyhouse-basingstoke.co.uk
ENTER
normandyhouse-basingstoke.co.uk
Executive Summary
• Prominent location in the heart of
Basingstoke town centre
• Vacant office building totalling
76,364 sq. ft (NIA) with 283 on-site
car parking spaces
• Significant refurbishment,
development and change of use
opportunity subject to necessary
consents
• Freehold or long leasehold for sale
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normandyhouse-basingstoke.co.uk
Vyne
Basingstoke
The Malls
Shopping Centre
Alencon Li
nk
ine L’Alleud Rd
Bra
Al
ng View
Basi
trop Roundabo
ut
Eas
The Anvil
Concert Hall
Churchill Way
Chu
eet
Str
rch
Festival Place
Shopping Centre
Vue Cinema
BASINGSTOKE
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Timb
click to enlarge
trop
Eas
St.Michael’s
Church
ad
an
Goat L
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Location
Map
The Building
Communications
Tenure
Aerial
Asset Management Opportunities
La
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East
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Squa r
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CGI of proposed Waitrose & John Lewis at Home store
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A3010
A3010
Churchill Way
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Bra ton Terrac
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Festi
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The property is also conveniently
o
u n A339
located to the A33,
and
dabo
within 2 miles of Junction 6 of the
M3 providing a direct motorway
link to the M27 (South Coast),
A303 (West Country) and the
A34 (Midlands).
R
The property is situated to the
north of the 1 million sq ft Festival
Place Shopping Centre which
benefits from 200 shops, Vue
Cinema, Basingstoke sports centre
and a full range of restaurants,
cafes and bars. Skyline Plaza
residential development lies to the
south and the new 73,000 sq ft
Waitrose & John Lewis at Home
store (currently under construction)
is situated immediately to the east.
The Anvil concert hall is within a
short walking distance.
The property is within 100 metres
of Basingstoke railway station. The
station provides a fast and regular
commuter service to London
Waterloo (46 minutes) and
direct services to other regional
and national destinations
including Reading (16 minutes),
Southampton Central
(31 minutes)
Victory
and Woking (18 minutes).
A3010
ap
Hi
The property occupies a prominent
town centre location in the heart of
Basingstoke approximately 51 miles
south west of Central London.
Basingstoke is an established office
location connected to Reading (18
miles), Southampton (31 miles) and
Newbury (16 miles).
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New St
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New Road
Bl
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Bounty Road
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Communications
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Aerial
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click to return
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Additional Information
a
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A30
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Essex
Ro
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A3010
Eastrop Park
BASINGSTOKE
Road
A339
Way
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Churchill Way
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normandyhouse-basingstoke.co.uk
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Basing Vie
Basingstoke Alencon
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normandyhouse-basingstoke.co.uk
London
Waterloo
Oxford, Birmingham
and the North
Bath, Bristol, South Wales
and the West Country
Vauxhall
Queenstown
Road
Reading
Reading
West
Woking
Guildford
By Road
Mortimer
Bristol, Exeter
& South West
Farnborough
Basingstoke
Southampton
Airport Parkway
Micheldever
To Weymouth &
South Wales
Fareham
Location
Map
The Building
Communications
Clapham
Junction
M3/M25 Junction Southampton Central
Heathrow Airport
Gatwick Airport
West End
Eastleigh
Southampton
Central
Home
By Rail
Reading
Southampton Airport Parkway
Guildford
London Waterloo
Portsmouth and Southsea
New
Malden
Bramley
Communications
Cosham
37 mins
44 mins
49 mins
1h 17 mins
1h 24 mins
Portsmouth
& Southsea
Tenure
Aerial
16 mins
22 mins
33 mins
46 mins
1h 9 mins
Asset Management Opportunities
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normandyhouse-basingstoke.co.uk
1
5
Local Occupiers
& Amenities
2
8
9
POINTS OF INTEREST
A
Basingstoke Train Station
B
Waitrose / John lewis
C
Skyline Plaza
D
Crown Heights
E
The Malls Shopping Centre
F
Festival Place Shopping Centre
G
Vue Cinema
H
The Anvil Concert Hall
3
6
C
B
7
D
G
F
LOCAL OCCUPIERS
1
The AA
2
Thales
3
ENI Group
4
AXA
5
Network Rail Training Centre
6
Sun Life
7
Barclay’s
8
Unum Insurance
9
Penningtons Manches
Home
E
A
H
Location
Map
4
The Building
Communications
Tenure
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normandyhouse-basingstoke.co.uk
Description
The property occupies a prominent site on the corner of Bunnian Place and
Alencon Link. The site extends to approximately 1.328 acres (0.55 hectares)
and comprises a vacant office building of 76,364 sq ft (NIA) together with a
283 space multi-storey car park.
The property was constructed in the mid 1980’s and comprises reinforced
concrete framed construction with brick elevations configured in a L-shape
around a central core. The property has a ‘west’ wing over lower ground, ground
and 8 upper floors, and a ‘south’ wing over lower ground, ground and 4 upper
floors. The dedicated car parking at the rear of the property provides 283 secure
parking spaces (a ratio of 1 space per 266 sq. ft) and is accessed off Alencon Link.
The property provides the following specification:
• Large double height reception
• Suspended and perimeter HVAC
• Floor-to-ceiling heights between 2.4m and 2.7m
• Slab-to-slab height is 3.3m approx
• Suspended ceilings
• 3 compartment underfloor trunking
• 4 x 13 person passenger lifts
• 283 car parking spaces
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Description
Tenure
Accommodation
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normandyhouse-basingstoke.co.uk
Accommodation
The property has been measured in accordance with the
RICS Code of Measuring Practice (6th Edition) and provides
the following approximate net internal floor areas:
Floor
Eighth
Seventh
Sixth
Fifth
Fourth
Third Second
First
Ground
Reception
Lower Ground
Total
WEST WING
sq m
sq ft
2182,344
4244,566
5545,963
5545,963
93210,030
1,017
10,952
1,01710,952
9219,918
8949,628
41437
521
5,611
7,09376,364
(not including common parts)
MALE
WC
FEMALE
WC
SOUTH WING
Home
LIFT
LIFT
LIFT
LIFT
Location
DIS.
WC
The Building
Description
Tenure
Accommodation
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normandyhouse-basingstoke.co.uk
Tenure
The property is held freehold (Land
Registry Number HP764269). The
approximate extent of the freehold
ownership is shown outlined in red on
the OS plan extract.
The vendors will consider offers on a
freehold and long leasehold basis.
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The Building
PLAC
Location
NTS
LEME
ST C USE
HO
NIAN
In a sale for continued office use, the
car park will form part of the sale. In the
event of a sale for alternative use, the
car park may be retained by the Council
with agreed car parking spaces leased
to the purchaser.
Home
THE
QUEEN’S ARMS
PUBLIC HOUSE
BUN
The property is subject to a long
leasehold (Land Registry Number
HP399238) for a term of 150 years from
1st October 1984, leaving an unexpired
term of circa 120 years at a rent payable
of 15.5% of the aggregate net annual
rents received by the long leaseholder.
The sale will be conditional on the
Council retaining a vehicular/pedestrian
right of way over the property to the
car park and adjacent property. The
approximate extent of this right of way is
shaded in blue on the OS plan extract.
ALENCON LINK
Tenure
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0m
10m
20m
30m
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Asset Management Opportunities
The property provides a wide
range of excellent short term and
long term asset management
opportunities subject to the
necessary consents which include;
• A comprehensive refurbishment
for continued office use to
create modern flexible office
accommodation. Office rents in
the vicinity for newly refurbished
accommodation are achieving in
excess of £16.00 per sq ft.
•A
wider redevelopment of the
property for alternative use
subject to the necessary
planning consents.
•T
he opportunity to increase the
floor area by adding additional
floors to the south wing and
above the multi-storey car park
at the rear of the property.
• A ‘permitted development rights‘
opportunity. The long leaseholder
has submitted a PDR application
under Class J and Part N of the
Town and Country Planning
(General Permitted Development)
(Amendment) (England) Order
2013 for the change of use from
offices (B1a) to 153 flats (C3).
The reference is 15/00526/GPDOFF
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normandyhouse-basingstoke.co.uk
Additional Information
PLANNING
The property is situated within the jurisdiction
of Basingstoke and Deane Borough Council
and falls within the designated town centre
boundary.
USE
The current designated use of the property falls
within Class B1 (a) of the Town and Country
Planning (Use Classes) Order 1987.
RATING ASSESSMENT
The property has a rateable value under the
2010 list of £569,000.
VAT
The freehold and long leasehold interest has
been elected for VAT purposes.
EPC
The property has an energy performance rating
The vendors will accept offers which include a
of E (115). The full certificate can be found in the
sales and planning overage structure. A suitable
data room.
mechanism will be agreed to recognise the
value uplift associated with change of use and
DATA ROOM
redevelopment.
Further details are available at
www.normandyhouse-basingstoke.co.uk
where the following information can be found:
• Title registers and plans
• Head lease
• Existing floor plans
• PDR Application
• EPC
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SALES PROCESS
The freehold or long leasehold interest is
offered for sale by way of an informal tender on
both an unconditional and conditional (subject
to planning) basis.
Tenure
The vendors reserve the right not to accept the
highest or any offer.
A bid submission template and further details
can be found in the data-room.
Offers are invited by midday on Tuesday,
31st March and to be submitted to;
FOA Claire Linnell
Lambert Smith Hampton
United Kingdom House, 180 Oxford Street,
London W1D 1NN
T 020 7198 2042 E clinnell@lsh.co.uk
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Contact Us
For further information, and to arrange an inspection,
please contact one of the following:
Claire Linnell
Lambert Smith Hampton
0207 198 2042
clinnell@lsh.co.uk
Harry Gittoes
Lambert Smith Hampton
0207 198 2316
hgittoes@lsh.co.uk
Andrew Newman
Hollis Hockley
01256 489800
ajn@hollishockley.co.uk
normandyhouse-basingstoke.co.uk
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Subject to Contract and Exclusive of VAT © Lambert Smith Hampton February 2015
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents Hollis Hockley LLP (LSH and HH) give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH
or HH or the seller or landlord and do not constitute the whole or any part of an offer or contract.(ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any
guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use of occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these
particulars or otherwise provided shall not be relied on as statements or representations of fact or at all any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No
employee of LSH or HH has any authority to make or give any representation of warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in
respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence
of LSH or HH or its employees or agents, neither LSH or HH will be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any
statement or information that any statement or information has been made or given fraudulently by LSH or HH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impression or architects’ drawings
or specification or scope of works or amenities, infrastructure or services or information concerning the views, character, or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any
expectations they may have are provided for direct with the seller or landlord and LSH or HH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
Designed and produced by Zest Design & Marketing (020 7079 3090), February 2015 (01445).
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