Let to Whitecross Dental Care Limited with a guarantee from Integrated Dental Holdings Limited
15 year lease renewal from 22nd July 2021 (subject to options)
12 month rental break penalty at year 5 if break option exercised
Re-based rent
Rent rising to £24,890.98 pa in July 2026 and to £28,161.86 pa in July 2031
VAT-free Dental Surgery Investment
Lot 19
Auction 24th September 2021
Rent £22,000 per Annum Exclusive
Status Sold
Price £300,000
Sector Medical/Healthcare
Auction Venue Live Streamed Auction
Property Information
Location
Miles
6 miles east of Poole
30 miles west of Southampton
Roads
A31, A35, A338, M27
Rail
Bournemouth Railway Station
Air
Bournemouth Airport
Situation
Bournemouth is a highly popular coastal resort town, approximately six miles east of Poole. The property is situated in a busy trading position on the southern side of Old Christchurch Road, in the heart of Bournemouth's restaurant and leisure district approximately 900 metres from Bournemouth Railway Station. Glen Fern multi-storey car park is located 250 metres to the west and provides car parking for approximately 400 cars.
Tenure
Freehold.
Location
Miles
6 miles east of Poole
30 miles west of Southampton
Roads
A31, A35, A338, M27
Rail
Bournemouth Railway Station
Air
Bournemouth Airport
Situation
Bournemouth is a highly popular coastal resort town, approximately six miles east of Poole. The property is situated in a busy trading position on the southern side of Old Christchurch Road, in the heart of Bournemouth's restaurant and leisure district approximately 900 metres from Bournemouth Railway Station. Glen Fern multi-storey car park is located 250 metres to the west and provides car parking for approximately 400 cars.
Tenure
Freehold.
Description
The property comprises a Dental Surgery arranged over ground, first and second floors.
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 D. See legal pack.
Description
The property comprises a Dental Surgery arranged over ground, first and second floors.
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 D. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground First Second
Dental Surgery Ancillary Ancillary
48.50 sq m 35.00 sq m 16.70 sq m
(522 sq ft) (376 sq ft) (180 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 (4)
£22,000 rising to £24,890.98 in July 2026 rising to £28,161.86 in July 2031
Total
100.20 sq m
(1,078 sq ft) (1)
£22,000 (with fixed rental uplifts every 5 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 on 22/07/2026 and 22/07/2031. The tenant has agreed a 12 month break penalty if they exercise the option at the expiry of the 5th year. (4) The lease is full repairing & insuring, subject to a Schedule of Condition.
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.
