Lomead House
St John's Road
Whitland
Carmarthenshire
SA34 0AP

Freehold Dental Surgery Investment

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 £23,759.57 pa in July 2026 and rising to £26,881.78 pa in July 2031
VAT-free Dental Surgery Investment

Lot
20
Auction
24/Sep/2021
Rent
£21,000 per Annum Exclusive
Status
Sold Post
Price*
Sector
Medical/Healthcare
Auction Venue
Live Streamed Auction

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Photos
Map

* More information on the term "price" can be found here

Property Information

Location

Miles: 13 miles west of Carmarthen; 38 miles north west of Swansea
Roads: A40
Rail: Whitland Railway Station

Situation

Whitland is located approximately 13 miles north of Tenby and 38 miles north-west of Swansea. The property is prominently situated in the centre of Whitland, on the west side of St John's Street approximately 100 metres north of Whitland Railway Station.

Tenure

Freehold.

Description

The property comprises a Dental Surgery arranged on the ground and first 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	Dental Practice Ancillary	127.40 sq m 60.11 sq m	(1,371 sq ft) (647 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	£21,000 rising to £23,759.57 in July 2026 rising to £26,881.78 in July 2031
Total		187.51 sq m	(2,018 sq ft) (1)			£21,000 (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 rental break penalty if they exercise the option at the expiry of the 5th year.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.