Let to Whitecross Dental Care Limited with a guarantee from Integrated Dental Holdings Limited
15 year lease renewal from 22nd July 2021
(subject to option at year 10)
Re-based rent
Rent rising to £33,942.25 pa in July 2026 and rising to £38,402.54 pa in July 2031
900 metres south of New Milton Railway station in Affluent New Forest Tourist Town
VAT-free Dental Surgery Investment
Lot 2
Auction 24th September 2021
Rent
Status Sold
Price £614,000
Sector Medical/Healthcare
Auction Venue Live Streamed Auction
Property Information
Location
Miles
10 miles east of Bournemouth
16 miles south-west of Southampton
Roads
A337, A31, M27
Rail
New Milton Railway Station
Air
Bournemouth Airport, Southampton Airport,
Situation
New Milton is a market town in Hampshire, approximately 10 miles east of Bournemouth. The property is situated in a predominantly residential area on the east side of Mount Avenue, opposite it's junction to Cowper Avenue, and approximately 900 metres south of New Milton Railway Station.
Tenure
Freehold.
Location
Miles
10 miles east of Bournemouth
16 miles south-west of Southampton
Roads
A337, A31, M27
Rail
New Milton Railway Station
Air
Bournemouth Airport, Southampton Airport,
Situation
New Milton is a market town in Hampshire, approximately 10 miles east of Bournemouth. The property is situated in a predominantly residential area on the east side of Mount Avenue, opposite it's junction to Cowper Avenue, and approximately 900 metres south of New Milton Railway Station.
Tenure
Freehold.
Description
The property comprises a Dental Surgery arranged on the ground, first and second floors. The property benefits from on site parking to the rear.
VAT
VAT is not applicable to this lot.
Note
Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
Band E. See legal pack.
Description
The property comprises a Dental Surgery arranged on the ground, first and second floors. The property benefits from on site parking to the rear.
VAT
VAT is not applicable to this lot.
Note
Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
Band E. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground First Second
Dental Surgery Dental Surgery Ancillary
66.20 sq m 72.70 sq m 18.20 sq m
(713 sq ft) (782 sq ft) (196 sq ft)
WHITECROSS DENTAL CARE LIMITED with a guarantee from INTEGRATED DENTAL HOLDINGS LIMITED (2)
15 years from 22/07/2021 until 21/07/2036 (3) on a full repairing and insuring lease
£30,000 rising to £33,942.25 in July 2026 rising to £38,402.54 in July 2031
Total
157.10 sq m
(1,691 sq ft)(1)
£30,000 (with fixedrental uplifts every5 years)
(1) Floor areas provided by the Valuation Office Agency (www.gov.uk). (2) For the year ending 31st March 2019, Whitecross Dental Care limited reported a turnover of £166,771,000, a pre-tax profit of negative £56,039,000 and shareholder funds of £5,341,000. Integrated Dental Holdings Limited did not report a turnover or pre-tax profit, but reported a total net worth of £18,263,000 (Source: NorthRow 27/07/2021). (3) The lease provides for a tenant option to determine the lease at the expiry of the 10th year on 22/07/2031.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.