Summary - Units 1 - 4 Newton Park, Hopkinson Way, Portway West Business Park, Andover, SP10 3SH SP10 3SH
1 bed 1 bath Warehouse
Income-producing industrial estate with yard, strong road links and immediate rental cashflow.
Multi-let industrial estate totalling 13,954 sq ft across four units
Prominent corner position with easy A303 access and strong regional links
Large tarmac yard with dedicated car and lorry parking, roller shutters
Gross income £103,990 pa; net income £90,490 pa (Unit 4 renewal pending)
Long leasehold interest: 125-year lease from 1983; upward-only five-yearly reviews
Units 1–3 received foam insulation after EPCs; some EPCs may be out of date
Buyer pays council consent fee (~£1,300) and VAT is excluded from offers
Crime level above average — consider tenant vetting and insurance costs
This is a rare multi-let industrial investment of four adjoining steel portal-framed units totalling 13,954 sq ft on a 0.872-acre site within Portway West Business Park, Andover. The estate delivers immediate income (gross £103,990 pa; net £90,490 pa) and strong road connectivity—the A303 is within half a mile, linking to the M3 and wider regional routes. Each unit benefits from roller shutter loading, dedicated car and lorry parking and a large tarmac yard suitable for HGV circulation.
The headlease is a long lease dated 5 April 1984 for 125 years from 14 November 1983 with upward-only five-yearly rent reviews (to 16% of an estimated full rack rental value). The property currently produces a passing rent of £13,500 pa under that headlease; offers are sought in excess of £950,000 (subject to contract and exclusive of VAT). Unit 4 lease renewal is expected to increase net income once concluded.
Practical positives include recent foam insulation works to Units 1–3 (post-EPC), ample loading/parking and prominent corner location on Hopkinson Way. Material considerations for a buyer: the estate is sold as a long leasehold interest with rent review mechanics and obligations tied to the headlease; one unit renewal is outstanding; some tenant leases have staggered expiries and past break dates. The purchaser will also be responsible for Test Valley Borough Council’s consent fees (estimated £1,300) and standard AML ID checks; VAT is excluded from the asking price.
This asset suits an investor targeting stable industrial income with upside from lease renewals and reversionary rent reviews. The location and yard configuration make the estate attractive to light industrial, storage and distribution occupiers, but note crime levels are above average for the area—factor in insurance and tenant screening costs.
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