5 The Sq | Petersfield GU32 3HL
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5 The Sq
Petersfield GU32 3HL
Office Property For Sale
Investment Highlights
- Prime banking unit investment in affluent Hampshire market town
- Open Plan
- Grade II Listed
Executive Summary
The property comprises a part three, part two storey Grade II listed building constructed of traditional brick under a pitched slate covered roof.
The property is laid out to provide a ground floor banking hall with associated offices and strong room. The first and second floors are set out as individual offices and staff areas with access by either of two wooden staircases.
A separate access door from The Square has enabled the upper parts to be sub let in the past. The property benefits from a small rear car parking area accessed via Park Road and Central car park.
The property is let to Lloyds Bank Plc on a lease expiring 23 June 2026 at a current passing rent of £94,500 per annum. Tenant has been in occupation for over 25 years and the branch is not on the list of scheduled closures. Scope to reposition the property and asset manage with separate entrance to upper parts. Offers in excess of £1,000,000 (One Million Pounds), subject to contract, for our client’s freehold interest. A purchase at this level reflects a net initial yield of 8.94% after purchaser’s costs of 5.75%
The property is laid out to provide a ground floor banking hall with associated offices and strong room. The first and second floors are set out as individual offices and staff areas with access by either of two wooden staircases.
A separate access door from The Square has enabled the upper parts to be sub let in the past. The property benefits from a small rear car parking area accessed via Park Road and Central car park.
The property is let to Lloyds Bank Plc on a lease expiring 23 June 2026 at a current passing rent of £94,500 per annum. Tenant has been in occupation for over 25 years and the branch is not on the list of scheduled closures. Scope to reposition the property and asset manage with separate entrance to upper parts. Offers in excess of £1,000,000 (One Million Pounds), subject to contract, for our client’s freehold interest. A purchase at this level reflects a net initial yield of 8.94% after purchaser’s costs of 5.75%
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
6,447 SF
Building Class
B
Year Built
1960
Price
£1,000,000
Price Per SF
£155
Net Initial Yield
8.94%
NOI
£89,400
Tenancy
Single
Number of Floors
3
Typical Floor Size
2,149 SF
Building FAR
0.65
Lot Size
0.23 AC
Amenities
- Signage
- Basement
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