Thursday 26 November 2015

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

Monday 2 November 2015

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

Wednesday 28 October 2015

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.

Monday 24 August 2015

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

Tuesday 4 August 2015

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.

Wednesday 29 July 2015

How Will You Market My Commercial Property?

The most comprehensive online portal exposure from ANY agent in Andover or the surrounding areas
Property Portal advertising generates around 95% off all enquiries into the office so this is a key marketing tool. We advertise on more portals than any other agent in town which include both residential and commercial portals. With Zoopla, PrimeLocation & Rightmove having the largest market share of hits, these are the big 3. However niche investors & business owners visit other sites that include:

Resi specialist
Rightmove (including premium upgrades from the standard offering)
Zoopla (including premium upgrades from the standard offering)
PrimeLocation (including premium upgrades from the standard offering)
Gazette & Herald Online
Andover Advertiser Online
Nestoria
and many more

Commercial specialist
PropertyLink
Estates Gazette
MoveHut
In negotiations with others

Local & National Websites
National Site: www.belvoir.co.uk

Social Media
All our investment opportunities are spread via our extensive social media channels such as LinkedIn, Twitter, Google+ & Facebook. We have placed a number of investments to developers & investors via targeted mailings on LinkedIn which appeals to high net wealth individuals looking to invest.

Direct Marketing
We have spent countless £10,000 on marketing over the years since our 1997 birth and have developed close relationships with 1000's of local & national developers as well as local, national & international investors due to our significant market share in the resi lettings and buy to let arena. Networking at local events and the hosting of buy to let evenings in partnership with Barclays Bank here in Andover. We are therefore able to reach out and touch 1000's of potential purchasers directly to their email inbox as well as the usual follow up phone call.

National Network
We are part of a 161 strong network of offices around the UK & Ireland that include offices in Chelsea & Fulham and other affluent areas of the country. Strong in buy to let potential.

Dedicated Belvoir Andover Smart Phone App
Your property will be featured on our dedicated smart phone app for iPhone & Android devices which has been downloaded by local people serious about finding property. The app syncs with the onboard maps to provide sat nav directions to the property.

Local Commercial agent vs National Agent
We are the only residential & commercial estate agent in Andover and therefore benefit from a wider audience of investors. Many investors have a mix of both types of property and therefore get the lion's share of leads in this area. Unlike many of our national competitors, we are based in Andover town centre and can therefore easier facilitate adhoc viewings to more potential buyers and tenants. We consistently achieve quicker and more lucrative results than our national agent competitors often when property has languished on the open market for months and sometimes even years with national agents before coming to us.

If you have a commercial or residential property to sell or let, please contact Greg Greatbatch on 01264 366611 or via email greg.greatbatch@belvoirandover.com

Find out more about Belvoir Commercial here: www.belvoirandover.com/commercial.html


5962 sq ft Office-to-Resi Development Opportunity

*** GUIDE PRICE £595,000 ***



We have been instructed on a sole agency basis, a splendid Georgian 5962 sq ft property that is presently used as offices but could be converted to a number of quality character residential dwellings STPP.

A real feature of this grade II listed property is the expansive gated car park, that again STPP, could be built on as has successfully been permitted next door where 4 properties have been erected.



The main building is a mix of mainly character Georgian style and fabric but there is a number of more recent extensions to the rear along with a modernistic barn-style section that also has vaulted ceilings.

The property is located on East Street in Andover which is located just a stone's throw from the town centre.

Demand for residential property in this location is high and typically achieves higher than average values (examples of property sold and let by us in this area available by request).

The property is presently Let with the present tenants moving to larger premises. They are due to vacate circa April 2016 which should allow any planning proposals to be completed prior to completing on the property.

The floor plan of the property is as below (larger digital version available upon request)


For more photography and information, please follow this link: http://www.zoopla.co.uk/for-sale/commercial/details/37626821


Please register your interest initially by email to commercial@belvoirandover.com, along with any initial questions you may have.

Tuesday 21 July 2015

** 25 Property Portfolio Available **

We have a client with a portfolio that consists of 3 buildings and split into 25 self contained residential apartments. 



Our client is looking to lease the whole property between 5 - 20 years at a an annual lease of around £100k - £125k depending on term. The flats are located approx 70 miles from Andover in a NW direction (details and photos available upon request).



The flats would achieve circa £145k once let so a return could be viewed at around 45% pa



The whole interior of the buildings were completely refurbished in June 2015 (please see pics attached). The properties are access via a gated driveway and there is ample parking available.




If you are seriously interested in this unusual but lucrative opportunity, please register your interest via 'email only' to me. Once registered, your details will be passed to one of my colleagues who will contact you and discuss the property in depth and send you more information and pictures.

To register your interest, please email me at commercial@belvoirandover.com

Monday 20 July 2015

Small business rates relief explained

It is not common knowledge among small businesses that the local council may be able to offer you a discount on your rates, if your business or the property you occupy fit certain criteria.

We think the following information will help explain this for you:

Some properties are eligible for discounts on their business rates. This is called ‘business rates relief’.
Your local council will automatically apply some reliefs. Contact your local council if you’re not getting the discounts you think you’re entitled to.
You can get small business rate relief if:
  • you only use one property
  • your property’s rateable value is less than £12,000


What you get

You'll get 100% relief (doubled from the usual rate of 50%) until 31 March 2016 for properties with a rateable value of £6,000 or less. This means you won’t pay business rates on properties with a rateable value of £6,000 or less.
The rate of relief will gradually decrease from 100% to 0% for properties with a rateable value between £6,001 and £12,000.


You have more than one property

You can get small business rate relief if the rateable value of each of your other properties is less than £2,600.
The rateable values of the properties are added together and the relief applied to the main property.
You’ll keep getting any existing relief for one year when you get a second property.


You’re a small business but don’t qualify for relief

If your property has a rateable value below £18,000 (£25,500 in Greater London) you’re considered a small business.
Even if you don’t qualify for small business rate relief, your business rates will be calculated using the small business multiplier instead of the standard one. This is the case even if you have multiple properties.

The multiplier shows the percentage (pence in the pound) of the rateable value that you pay in business rates. A list of currentmultipliers is on the Valuation Office Agency (VOA) website.

We hope you find this useful and if you have any other commercial property query, please do not hesitate in contacting us.

Belvoir Commercial
commercial@belvoirandover.com
01264 366611

Tuesday 23 June 2015

June 2015 - A Record Month Already for BELVOIR Commercial

It's the 23rd June 2015 and already Belvoir have seen more commercial business complete than ever before.


This is obviously great news for our business but maybe it's good for you too?

Could this be a trend for the commercial property industry here in Andover ? Or just Belvoir being the most proactive commercial agent in the town.


We have seen the successful sale and letting of property that other well known commercial agents have not been able to close.

How have we achieved this?


We have taken a fresh approach to Commercial Property Marketing. Most established commercial agents tend to 'do what they have always done'. This would never work in the residential market place, clients demand more. So we have taken our expertise in the sale and letting of residential property and applied it to our Commercial. Retail & Industrial property marketing here in Andover, Ludgershall, Tidworth & Whithcurch.

We now advertise commercial property in more places than ANY other agent in Andover. More eyes mean higher prices achieved, it really is that simple. Well, that coupled with enthusiastic and proactive sales people, we find this whole process comes with ease for us.


If you are looking at modern & professional commercial property marketing, why not give us a call to discuss your property needs. Or why not visit our website to learn more about us: Belvoir Commercial

Friday 8 May 2015

*** 8% Yield Investment Opportunity on Tenanted Commercial Property ***


Having recently LET a light industrial unit on Woolworth Business Park, we are delighted to be able to offer the property to the market for sale.

This 1405 sq ft unit on Focus Way is now tenanted on a 3 year covenant at £800pcm

The property is available for purchase at £120,000

For more information on this property, please follow this link:

http://www.zoopla.co.uk/for-sale/commercial/details/33108082

Belvoir Commercial have a variety of Investments, Buy to Lets, commercial & residential mix properties, land & development opportunities for sale and let. Please contact us to find out more.

Belvoir Commercial 01264 366611 commercial@belvoirandover.com

Thursday 9 April 2015

Should I move my business to Andover, Hampshire?


Moving your business ?


If you are considering moving your business to the Test Valley area of Hampshire, why not consider Andover, a picturesque market town located in an affordable (compared to its neighbouring towns such as Basingstoke, Salisbury & Winchester).

£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 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)

Mainline Train Station - Andover benefits from being a commuter town with its own mainline train station serving London Waterloo in just over 1 hour.

If you are considering moving your business, please contact Greg Greatbatch of Belvoir Commercial to discuss your requirements.

greg.greatbatch@belvoirandover.com or 01264 366611