SPC appointed to dispose of Swindon Town Centre Office Investment
Following the recent letting of Unit 1 The Lock, Swindon, we are delighted to announce that we have been appointed to dispose of the Investment.
Swindon is strategically located on Junctions 15 and 16 of the M4 motorway, providing direct access to London and Bristol. A high-speed rail link provides a regular direct service to London Paddington and the following completion of the electrification project the journey time will be reduced to 45 minutes. The town is an important provincial centre and is home to many major companies including Intel, Honda, Nationwide and Zurich.
The Lock is in an established central business location and it is anticipated that the area will benefit from significant investment through Swindon Borough Councils proposed regeneration plans for the town centre. This is expected to include the relocation of Swindon’s bus station adjacent to the building which is likely to have a significant impact on footfall.
The building is easily accessible from both Fleming Way and Fleet Street. The Brunel Shopping Centre incorporating The Crossing which is the recently opened food and beverage quarter is 5 minutes walk as is Regent Circus offering a multiplex cinema and several restaurants.
The property is held on a 3-year lease, excluded from the Landlord and Tenant Act 1954 from 1st June 2020 at a rent of £9,500 pa. The lease expires on 30th May 2023
The property is available to purchase on a new long leasehold interest for a term of 250 years. Offers are sought in the region of £100,000 plus VAT although it is envisaged that the transaction will be dealt with as a TOGC.