Let to Secretary of State for Communities and Local Government
Renewed 10 year lease from April 2018 (subject to option)
Tenant in occupation for over 35 years
Prominent position opposite Boots the Chemist and Prezzo
VAT-free investment
Attractive and affluent Georgian market town
Lot 22
Auction 7th December 2017
Rent £47,500 per Annum Exclusive
Status Sold
Price £770,000
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
14 miles north-west Poole, 19 miles north-west of Bournemouth, 24 miles south-west of Salisbury
Roads
A31, A35, A350, A354
Rail
Poole Railway Station
Air
Bournemouth Airport
Situation
Blandford Forum is an affluent and attractive Georgian market town. The property is situated in a good trading location on the northern side of East Street, opposite Boots the Chemist, Prezzo and M&Co. The adjoining property has recently been redeveloped to form four shops with tenants including Domino’s and Specsavers.
Tenure
Freehold.
Location
Miles
14 miles north-west Poole, 19 miles north-west of Bournemouth, 24 miles south-west of Salisbury
Roads
A31, A35, A350, A354
Rail
Poole Railway Station
Air
Bournemouth Airport
Situation
Blandford Forum is an affluent and attractive Georgian market town. The property is situated in a good trading location on the northern side of East Street, opposite Boots the Chemist, Prezzo and M&Co. The adjoining property has recently been redeveloped to form four shops with tenants including Domino’s and Specsavers.
Tenure
Freehold.
Description
The property comprises a ground floor retail area with the first floor providing offices and ancillary accommodation. There is car parking to the rear for six cars, approached from Sheep Market Hill.
VAT
VAT is not applicable to this lot.
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 ground floor retail area with the first floor providing offices and ancillary accommodation. There is car parking to the rear for six cars, approached from Sheep Market Hill.
VAT
VAT is not applicable to this lot.
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
Ground First
Retail/Ancillary Offices/Ancillary
195.84 sq m 86.59 sq m
(2,108 sq ft) (932 sq ft)
SECRETARY OF STATE FOR COMMUNITIES AND LOCAL GOVERNMENT t/a Job Centre Plus
10 years from 01/04/2018 until 31/03/2028 (1) on a full repairing and insuring lease
£47,500
01/04/2023
Totals
282.43 sq m
(3,040 sq ft)
£47,500
(1) The current lease is for a term of 10 years expiring 31st March 2018, at a rent of £29,000 per annum. A new lease has been completed for a term of 10 years, from 1st April 2018 until 31st March 2028, subject to a rent review and tenant option to determine on 1st April 2023. The Vendor has agreed to adjust the completion monies so that the property effectively produces £47,500 p.a.x. from completion of the sale.
