2A Scotter Road Bishopstoke, Eastleigh Hampshire SO50 6AJ

2A Scotter Road
Bishopstoke, Eastleigh
Hampshire
SO50 6AJ

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 £14,142.60 pa in July 2026 and rising to £16,001.06 pa in July 2031
VAT-free Dental Surgery Investment

Lot
33
Auction
24th September 2021
Rent
£12,500 per Annum Exclusive
Status
Sold
Price
£204,000
Auction Venue
Live Streamed Auction

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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 £14,142.60 pa in July 2026 and rising to £16,001.06 pa in July 2031
VAT-free Dental Surgery Investment

Lot 33
Auction 24th September 2021
Rent £12,500 per Annum Exclusive
Status Sold
Price £204,000
Sector
Medical Centre/Doctors, Healthcare
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 18 miles north-west of Portsmouth; 30 miles north-east of Bournemouth
Roads: A3037, M3 (Junction 13), M27
Rail: Eastleigh Railway Station
Air: Southampton International Airport

Situation

Bishopstoke is located to the east of Eastleigh, approximately 18 miles north-west of Portsmouth and 30 miles north-east of Bournemouth. The property is located on the corner of Scotter Road and Fair Oak Road in a predominantly residential area, approximately 0.6 miles east of Eastleigh Railway station and the town centre.

Tenure

Virtual Freehold. Virtual Freehold, for a term of 999 years from 12th February 1976 at a fixed rent of £0.05p per annum.

Location

Miles: 18 miles north-west of Portsmouth; 30 miles north-east of Bournemouth
Roads: A3037, M3 (Junction 13), M27
Rail: Eastleigh Railway Station
Air: Southampton International Airport

Situation

Tenure

Virtual Freehold. Virtual Freehold, for a term of 999 years from 12th February 1976 at a fixed rent of £0.05p per annum.

Description

The property comprises a Dental Surgery arranged on the first floor only, forming part of a larger building.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1.5% 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 first floor only, forming part of a larger building.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1.5% 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
First	Dental Surgery	80.93 sq m	(871 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)	£12,500 rising to £14,142.60 in July 2026 rising to £16,001.06 in July 2031
Total		80.93 sq m	(871 sq ft) (1)			£12,500 (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.
(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 £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.