Freehold Retail and Residential Ground Rent Investment
Comprises a prominent ground floor retail unit with 3 residential flats let on long leases
Prominent corner position fronting the busy Christchurch Road (A35)
Benefits from off-street parking to the rear
Fixed rental increases
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 27
Auction 7th July 2016
Rent £5,025 per Annum Exclusive
Status Sold
Price £71,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On behalf of CBRE Receivers
Property Information
Location
Miles
2 miles north-east of Bournemouth town centre, 5 miles south-west of Christchurch, 6 miles east of Poole, 28 miles south-west of Southampton
Roads
A31, A35, A338, M27
Rail
Pokesdown Railway Station
Bournemouth Railway Station
Air
Bournemouth Airport
Situation
Boscombe is a popular suburb of Bournemouth located 2 miles north-east of the town centre. The property is situated in a prominent corner position on the north side of Christchurch Road (A35), a busy arterial route which links Bournemouth town centre to the west and Christchurch to the east.
Tenure
Freehold.
Location
Miles
2 miles north-east of Bournemouth town centre, 5 miles south-west of Christchurch, 6 miles east of Poole, 28 miles south-west of Southampton
Roads
A31, A35, A338, M27
Rail
Pokesdown Railway Station
Bournemouth Railway Station
Air
Bournemouth Airport
Situation
Boscombe is a popular suburb of Bournemouth located 2 miles north-east of the town centre. The property is situated in a prominent corner position on the north side of Christchurch Road (A35), a busy arterial route which links Bournemouth town centre to the west and Christchurch to the east.
Tenure
Freehold.
Description
The property comprises a double fronted ground floor retail unit, benefiting from a return frontage to Warwick Road, with selfcontained residential accommodation on part ground, first and second floors accessed from Warwick Road. Additionally, the property benefits from parking to the rear.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a double fronted ground floor retail unit, benefiting from a return frontage to Warwick Road, with selfcontained residential accommodation on part ground, first and second floors accessed from Warwick Road. Additionally, the property benefits from parking to the rear.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Part ground Basement
Retail Ancillary
56.94 sq m 8.51 sq m
(613 sq ft) (92 sq ft)
INDIVIDUAL
15 years from 08/03/2016 (1)
£4,875 (1)
08/03/2021 08/03/2026 (07/03/2031)
Flat 1 (Part Ground)
Residential
Not measured
INDIVIDUAL
120 years from 24/06/1987
£50
24/06/2027
Flat 2 (First)
Residential
Not measured
INDIVIDUAL
120 years from 24/06/1987
£50
24/06/2027
Flat 3 (Second)
Residential
Not measured
INDIVIDUAL
120 years from 24/06/1987
£50
24/06/2027
Total Commercial Area
65.45 sq m
(705 sq ft)
£5,025
(1) The lease provides for fixed increases in rent, the rent will increase to £5,000 p.a.x on 8th March 2018, £6,000 p.a.x on 8th March 2019 and £6,500 p.a.x on 8th March 2020. Additionally, the lease provides for a tenant option to determine on the 8th March 2021. NB. The seller has served notices on the residential lessees under section 5B of the Landlord and Tenant Act 1987.