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Accommodation
The property has been measured by BKR Floorplans and provides the following accommodation:
| Gross Internal Area | ||
| Ground Floor | 137.96 sq m | 1485 sq ft |
| First Floor | 110.64 sq m | 1191 sq ft |
| Second Floor | 42.92 sq m | 462 sq ft |
| Total Gross Internal Area | 291.52 sq m | 3138 sq ft |
| Net Internal Area | ||
| Ground Floor | 81.84 sq m | 881 sq ft |
| First Floor | 91.69 sq m | 987 sq ft |
| Second Floor | 30.38 sq m | 327 sq ft |
| Total Net Internal Area | 203.92 sq m | 2195 sq ft |
A set of floor plans is available to download, and the measured survey report will be re-addressed to a purchaser.
EPC
Italian Lodge has an EPC rating of ‘E’ valid until 16th December 2034.
Rateable Value
According to the valuation office website the rateable value for the property is as follows:
| Unit | Description | Rateable Value |
| Italian Lodge | Office & premises | £9,100 |
The business rates multiplier is 49.9 pence.
Tenure
Freehold.
Tenancy
The property is let to Salisbury Independent Living (company number 03966646) for a term of 20 years from XXX, on full repairing and insuring terms.
Rents are paid quarterly in advance. Rent reviews are annual, upwards only, in accordance with increases in the Consumer Price Index plus 1%.
The current passing rent is £x per annum.
VAT
The property has not been registered for VAT
Proposal
The property is available as part of the portfolio for which we are instructed to seek offers in the region of £x (xx Million, XX Thousand Pounds).
Investment Considererations
An opportunity to acquire a Grade II Listed office investment, an administrative office for a housing association within the care sector.
The property is let on a new 20 year lease
The lease provides for rent increases based upon CPI + 1% annually
The rent is effectively underwritten by Government, thereby providing secure income
The property forms part of a portfolio, available at an attractive net initial yield
Disclaimer
Fixed Charge Receivers Andrew Pear and Milan by the powers given by the Mortgage and all other powers given by statute or otherwise who act as agents for the Company and without personal liability. Both Fixed Charge Receivers are licenced by the Insolvency Practitioners Association and are bound by the Insolvency Code of Ethics.
