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Beacon HouseCumberland
Business CentreNorthumberland
RoadPortsmouth
PO5 1DS
Long Leasehold Investment
For Sale
Investment Summary
• 3 Long Leasehold Interests known as B1, B2 andB3, Beacon House.
• The occupational leases are contracted out ofthe Landlord and Tenant Act 1954.
• Current Rental Income £38,750 pax, with twosuites vacant on the market at £7,500 pax each.
• Rental Growth and Lease Re-gearingopportunities in 2020, Mortgage Source rentrises to £5,500 from year 4.
• VAT elected.
• Tenants are a mix of national and localcompanies:
Jamie Bell Physiotherapy, Warwick EstatesProperty Management Limited, Interserve(Facilities Management) Limited, I Love toLearn Limited, Mortgage Source, Alivo Limited,Agon Distribution Limited.
• Offers in the region of £575,000 (Five hundredand seventy-five thousand pounds), subject tocontract.
Beacon House, Cumberland Business Centre, Northumberland Road, Portsmouth, PO5 1DS
Portsmouth is the second largest city in the county ofHampshire and a major coastal port situated on the SouthCoast. It is the UK’s only Island City and has a population ofover 214,000 (ONS 2016).
It is renowned as one of the nation’s best known ports andhome to the University of Portsmouth and major visitorattractions including the Historic Dockyard, Emirates SpinnakerTower and Gunwharf Quays.
This investment is well situated in an established BusinessCampus location in Cumberland Business Centre, which islocated within Portsmouth, close to the junction of WinstonChurchill Avenue, which is approximately 1 mile south of theM275, boosting good transport links with the M27 and the A27.
SituationBeacon 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 interlinkedsuites capable of separate occupation as it is currently, or elsehas the connectivity to be occupied by one business.
Each office suite has the benefit of designated car parking and isnestled amongst a thriving business community of solicitors,accountants, educators, property management companies andrecruitment specialists.
Cumberland Business Centre is on the cusp of Southsea, andwithin 2miles from Southsea Seafront.
Also within walking distance of Fratton Railway Station; itprovides excellent local and inter city services including LondonWaterloo (1hr 20mins approx).
Beacon House, Cumberland Business Centre, Northumberland Road, Portsmouth, PO5 1DS
Location
DescriptionThe Long Leasehold investment is a purpose built three storeyoffice building known as Beacon House, in a campus setting,offering flexible office space.
It comprises 3 offices per floor, which are capable of being linkedor separately occupied and has the benefit of 24 designated carparking 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 thislevel.
The first floor offices benefit from having both ground floor entryand first floor entry options.
Beacon House, Cumberland Business Centre, Northumberland Road, Portsmouth, PO5 1DS
Tenancy Schedule Tenant
Rental
Income
(pa)
Lease Start Lease EndNIA Sq Ft
(M)
B1 Ground Floor Alivo Limited £5,750 01/04/2018 31/03/2020 507 (47)
B1 First Floor Vacant - On the market Vacant - On the market 487 (45)
B1 Second Floor Kevin Norwood £4,500 31/08/2017 30/08/2022 527 (59)
B2 Ground Floor Jamie Bell Ltd £5,500 11/05/2017 10/05/2021 511 (47)
B2 First Floor Vacant - On the market Vacant - On the market 487 (45)
B2 Second FloorInterserve (Facilities
Management) Limited£5,000 24/07/2017 23/07/2022 515 (48)
B3 Ground Floor I Love to Learn Limited £6,000 07/06/2017 06/06/2023 565 (52)
B3 First Floor Agon Distribution Limited £6,000 01/04/2018 31/03/2020 570 (53)
B3 Second FloorWarwick Estates Property
Management Limited £6,000 01/05/2015 30/04/2020 607 (56)
EPCThe property has an EPC Rating of D with a score of 85. A copy ofthe EPC is available on request.
Lease summaryThe leases are effective full repairing and insuring leases, and thereis a service charge recovery provision within the lease documentsfor the recovery of the overall Estate service charge as well asexpenditure in relation to common services and charges.
B1 & B2 First Floor has recently been vacated and is available on themarket to let.
Mortgage Source Lease has a break option on the 31st August 2020.Interserve (Facilities Management) Limited have a break option on24th July 2020. Both subject to 6 month’s prior written notice.
Jamie Bell Physiotherapy have a rolling break option subject to 3month’ prior written notice.
Beacon House, Cumberland Business Centre, Northumberland Road, Portsmouth, PO5 1DS
Tenancy Schedule
This Long Leasehold Investment comprises three Long LeaseholdInterests with a term of 127 years (less 3 days) from 30th
September 1988 at a peppercorn rent. The three interests formBeacon House, which are known as B1, B2 and B3, CumberlandBusiness Centre, Northumberland Road, Portsmouth.
All arrangements to view must be made by priorappointment with Sole Agents GARNER WOOD on 0239262 9000.
Viewing Arrangements
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.
We are instructed to sell this Long-Leasehold Investments for offersin the region of £575,000 (Five hundred and seventy-five thousandpounds)
This property is VAT elected.
Beacon House, Cumberland Business Centre, Northumberland Road, Portsmouth, PO5 1DS
Tenure Price
For further information contact Sau-Wan Lai on 023 9262 9011 or
email: [email protected]
And
Clive Garner on 023 9262 9008 oremail: [email protected]
