While we at Louis Taylor are a firm very much rooted in the Staffordshire, Cheshire & Shropshire region, there are occasions on which we also operate nationally to represent our valued managed clients.
In one of our most recent examples of this we acted as joint auctioneer alongside the nationally renowned auction house Acuitus to handle the successful disposal of prime office premises in Fareham, Hampshire.
The property in question was West End House at 288 West Street, Fareham, which is a distinctive freehold office building that was sold by live streamed auction on 3rd November 2022.
Situated in a superb position opposite Fareham Railway Station, West End House was previously let at a rent of £48,500 p.a. When the lease expired in June 2022 the premises were then able to be offered with vacant possession and immediate availability, West End House represented a desirable Change of Use/Redevelopment Opportunity with the added advantage of being VAT-free at time of sale.
Helping to make West End House such a desirable proposition is its excellent location. In a prominent situation just off Station Roundabout, the property is directly opposite Fareham Train Station and just 0.8 miles from Fareham Town Centre.
In more detail, West End House is an office building comprising 6,474 sq ft arranged on the ground, first and second floors, and benefiting from extensive car parking for circa 33 cars to the front and side. As such the property may lend itself to alternative uses and/or redevelopment, subject to obtaining all the necessary consents.
As joint auctioneer Louis Taylor identified auction as the most appropriate method of sale and worked alongside Acuitus to package the premises, prepare and deliver pre-sale marketing services, field enquiries and liaise with the clients legal representatives to effect a successful sale of the asset.
As always it was a pleasure to work alongside David Margolis and his team at Acuitus and we know that our client was very happy with the final result which exceeded his expectations on the day.
For advice on any aspect of buying, selling or managing commercial property, please do not hesitate to contact our Commercial team at Louis Taylor Ltd on 01782 260 222 or info@louis-taylor.co.uk