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
Status Sold
Price £204,000
Sector Medical/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
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.
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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.