Off Market Opportunity to aquire the Freehold of this Character Property

Belvoir are delighted to offer an 'Off Market' Freehold of this beautiful character 3 storey High Street property (plus sizeable basement storage), located adjacent to one of the main entrances to Andover’s shopping centre. The property is set in a corner plot with dual aspect frontage in a recently updated and remodelled area of the high street near St Mary’s Church.

Corner Frontage

Ground Floor

Presently laid out as retail over the first two floors and office space to the second floor but could be re arranged to allow for conversion of the upper floors into 2 x 2 bed residential apartments (Planning for this conversion was granted but has now lapsed). The property would also suit a business owner looking to promote their business in a prime position with the possibility of converting the upper floors into accommodation for the owners or staff.

Ground Floor: 759 sq ft
First Floor: 642 sq ft
Second Floor: 518 sq ft
Basement: 480 sq ft

Total: 2399 sq ft

The property has many original features including exposed beams, brickwork, original floor boards, inglenook fireplace etc.

Retail Tenant Position: Due to the success of the business, the tenant will either move to larger premises or potentially keep this outlet as well as a new location. Therefore the property can be sold either with tenant in situ or with vacant possession.

For internal viewings of the property, please contact the office. In the interests of the tenant, please do not visit the property un arranged with Belvoir.

Guide Price: £495,000 

First Floor

Andover 
Picturesque market town located in the affluent Test Valley area of Hampshire 
£2.9m has been invested to extend and refurbish the bus station 
Further improvements underway to the town and community as part of the Andover Vision 20 year plan 
Strategic location adjacent to A303 and within easy reach of the M3 & M4 
Various car parks close by including a multi storey 
Andover has a number of core brands on the High Street that include Top Shop, Ernest Jones, Costa Coffee, Poundland, Boots, Argos, TK Maxx etc etc. 
Strong annual footfall or circa 7 million 
Catchment ; there is an affluent shopper catchment of approx 150,000 people drawing from the surrounding wealthy villages including Stockbridge and The Wallops 
Growing population ; there is substantial housing expansion underway with an additional 8250 dwellings to be built by 2029 with 6516 of those earmarked for Andover. There are recent communications and existing commitments at Picket Twenty & Augusta Park. 
Low unemployment; the town benefits from very low unemployment compared to the national average. 
Loyal customers ; people living in the core catchment area visit the town centre more than 70 times a year (rct 2010)

If you are interested in an internal viewing or more information, please contact us on 01264 366611

Development Plot Available - 0.64 acres

We have been instructed to bring to market a substantial plot of land on behalf of our client who has recently acquired the site. The plot spans between Western Rd & Osborne Rd and has access from both roads. The plot is close to Andover town centre.

The site presently has a substantial Victorian building on it (formally a working man's club) but provisional drawings have been created to demonstrate the plot would allow at least 13 dwellings on it STPP.

We have calculated that the exit value of these houses would be circa £3 - £3.4m subject to quality and planning permission etc.

It has been suggested that the 13 properties would be made up as follows:

3 x 2 bed houses

7 x 3 bed houses

3 x 4 bed houses (from the existing building on site)

The guide price for the site is £1m and we would like to hear from anyone that would interested in purchasing the site. Please contact us at your earliest convenience if you would like to discuss this further.

Mixed Use Property For Sale - Andover High Street

Belvoir Commercial have been instructed to sell another substantial residential & commercial mix property on the High Street here in Andover. The property is in the closing stages of the upper floors being converted into 4 residential flats.

The freehold sale of the property consists of as follows:

2 x 2 Bedroom Flats

2 x 1 Bedroom Flats

1085 sq ft Commercial Retail unit

The location of the property sits in what is considered the 'sweet spot' of the high street and is presently let to the premium greetings card retailer 'House of Cards' on a 15 year lease. The property shares its location with big brands such as hsbc, Lloyds, tsb, Santander, Boots, Dorothy Perkins, Costa & Burton etc.

The entrance to the flats on the first and second floor are accessed via a communal residential side access from the side of the building.

As previously mentioned, the flats are presently being finished so will be presented 'as new' when completed and are ideal for letting on a assured shorthold tenancy agreement which this office can assist with.

Rental Valuation:

Commercial: Presently paying £28,500k pa + vat

1 beds: £625pcm x 2

2 beds: £695pcm x 2

Total annual residential lettings income: £31680

Total Annual Income: £60180pa

Yield: Approx 6.69%

Added Value: 1 Years free lettings management of the property post purchase

If you would be interested in this property, please contact this office for more information

Established tenant needs 6000 sq ft

We have registered a commercial applicant that is looking for circa 6000 sq ft of office space within commutable distance from Andover.

Example Property Required

If you have, or know someone that does, a property that might suit the applicant, please get in touch as soon as possible.


Applicant Details:
• Established Business
• Circa 50 Staff
• Will either purchase or lease a suitable property
• Award winning business (120 industry awards to date)
• Timescale: ASAP
• Requirement: 6000 - 7000 sq ft
• Type: Offices


We look forward to hearing from you.


commercial@belvoirandover.com


01264 366611

New measures will make it easier to turn underused office buildings into new homes

Housing and Planning Minister Brandon Lewis  announced earlier this month new measures that will make it easier to turn underused office buildings into new homes.

The move will provide thousands of new homes, and make the best use of existing buildings including some that are underused and neglected – while at the same time protecting the green belt.

Brandon Lewis said:

We’re determined that, both in Whitehall and in town halls, everything is done to get the homes we need built.

Today’s measures will mean we can tap into the potential of underused buildings to offer new homes for first-time buyers and families long into the future, breathing new life into neighbourhoods and at the same time protecting our precious green belt.

First introduced in 2013, temporary permitted development rights have enabled offices to be converted to new homes without having to apply for planning permission. It has meant that between April 2014 and June this year, almost 4,000 conversions were given the go-ahead.

However, these rights were set to expire on 30 May 2016 – potentially introducing a raft of unnecessary red tape and bureaucracy that would have hampered the conversion of underused office buildings and slowed down the delivery of thousands of new homes.

Today, Mr Lewis announced that these permitted development rights will now be made permanent. In addition those who already have permission will have 3 years in which to complete the change of use – ending potential uncertainty for developers and enabling the development of much needed homes.

To further support the delivery of new homes, the rights will in future allow the demolition of office buildings and new building for residential use.

In addition, new permitted development rights will enable the change of use of light industrial buildings and launderettes to new homes.

Further information

Those areas that are currently exempt from the office to residential permitted development rights will have until May 2019 to make an Article 4 direction if they wish to continue determining planning applications for the change of use.

There are areas in 17 local authorities in England consisting of individual buildings, roads or zones that are currently exempt from the rights, including:

• The City of London
• The London Central Activities Zone, which covers parts of the boroughs of Camden, Islington, Hackney, Tower Hamlets, Southwark, Lambeth, Wandsworth, Westminster, Newham, and Kensington and Chelsea
• Areas in the borough councils of Stevenage, and Ashford (Kent)
• Areas in the district councils of Sevenoaks and East Hampshire
• Manchester City Centre

These exemptions will remain in place until May 2019, providing time for local authorities to consider making an Article 4 direction to remove the rights and require a planning application for any proposed change of use.

Those who already have prior approval or who secure permission will have 3 years in which to complete the change of use.

The rights to allow for demolition of offices and new build as residential use will be subject to limitations and prior approval by the local planning authority. Further details will be provided in due course.

The new permitted development rights for the change of use of light industrial buildings and launderettes to residential use will be subject to prior approval by the local planning authority. Further details will be provided in due course.


If you have a commercial property that you believe might be suitable for conversion, please contact Greg Greatbatch of Belvoir Commercial 01264 366611

Belvoir Commercial have successfully SOLD various types of commercial property to developers for the purposes of the above. Whether you have offices, floors above retail, pubs, clubs, land or unused buildings, give Belvoir a call to see we can do for you.

7 Property Investment Opportunity

Property Portfolio Opportunity

Belvoir Andover are delighted to be bringing to the market 7 individual apartments located on Andover’s High Street in an historic and picturesque heritage property.

The building is being sympathetically restored and converted to allow a mix of studio, 1 bed & 2 bed apartments.

A communal entrance hall greets you home with a sweeping grand staircase to the upper floors and an atrium allowing daylight to come flooding down through the centre of the building.

This unique investment opportunity allows you to potentially buy from 1, to all 7 ‘off plan’ at an early stage where, if desired, you can watch and oversee the conversion process.

The properties can be purchased at a favourable rate by buying early and these prices are as follows:

		Type	Sq Ft	Purchase Price	Rent	Yield
Flat 1		1 Bed	705	£135,000	£650	5.78%
Flat 2	1 Bed		576	£130,000	£625	5.77%
Flat 3		1 Bed	433	£130,000	£625	5.77%
Flat 4		2 Bed	747	£155,000	£700	5.42%
Flat 5		Studio	449	£110,000	£575	6.27%
Flat 6		2 Bed	618	£155,000	£700	5.42%
Flat 7		Penthouse 1 / 2 bed	778	£155,000	£700	5.42%
Total			4306	£970,000	£4,575	5.66%
Average Yield						5.66%

We now have floor plans for the individual dwellings so we can these to you upon request.

About Andover
Andover, despite being a market town, has a high rental demand and relatively low availability driving rental prices upward. Great road links (A303/M3) and a mainline (London Waterloo) train station taking you to the nation's capital in under an hour make it an ideal commuter town. Many large brands make Andover their national/international HQ (Stannah Stair Lifts, Le Creuset Kitchenware, Twinings Tea, Lloyds TSB National Call Centre etc).

If you are interested in finding out more about this exciting investment opportunity, please contact Greg Greatbatch on greg.greatbatch@belvoirandover.com or by calling 01264 366611

What are the costs of buying or leasing a Commercial Property

Are you about to buy or rent a commercial property for the first time?

One thing you will need to build into your business plan is the costs of a commercial property.

In this blog you will learn about the various costs associated with buying or renting a commercial property:

Purchase or Rental costs

This seems an obvious one, but don't forget to check if there is VAT to pay on either of these. If the property is owned by a business the n the chances are there will be VAT to pay. It is common practice for an agent to say if the property is 'VAT Elected' or not. VAT at 20% can make a big impact on your set up and/or onward running costs.

Business Rates

OK so all commercial property you will have to pay the business equivalent of council tax. This starts off as the 'Rateable Value'. However, depending on a number of criteria, the council will give you up to 100% relief on the business rates. Read more about this by reading our blog on this subject by clicking here.

Solicitor/Legal Costs

Even though solicitors are normally used by both sides for the sale/purchase of a residential property, solicitors are rarely used for residential lettings. However, in the commercial world, solicitors are always used. This is for a variety of reasons and not least because of the longer term commitment that is presented in commercial property. The other 'norm' is the inbound tenant or purchaser often pays the legals costs of the landlord/vendor. If you are looking to lease a property, as with looking to rent a residential property, you will also be responsible for the costs of the background checking of yourself and/or the business that will be leasing the property. This is so the landlord can evaluate your credit worthiness and ability for onward rent payments etc. Some landlords even like to see a business plan before accepting you as a tenant so it is worth having this available if this becomes required.

Planning Costs

Each commercial property is given a 'Use Class' and this determines what the commercial property can be used for. For example if you were simply selling widgets, most likely you would need A1 Retail use. If you were an estate agent, you would need A2 Professional Services us. So if the property does not have the right Use Class, then it may be necessary for you to apply for a 'Change of Use'. This is usually approx £350 and is payable to the local council. Along with your application, you will need to provide detailed 'Plans'. These have to be correctly scaled either to 1:50 or 1:100 annotating the rooms proposed use. Contact us to arrange to have these plans drawn up.

If you are planning on leasing or purchasing a commercial property, please contact us at commercial@belvoirandover.com or telephone 01264 366611 for more information,

Belvoir is an award winning Commercial & Residential Real Estate Agent based in central Andover, providing modern & efficient property marketing services in the Andover, Tidworth, Ludgershall & Whitchurch areas of Hampshire & Wiltshire.