33 Sea Road
Boscombe
Bournemouth
BH5 1DH

Prominent Freehold Retail and Residential Ground Rent Investment

  • Let to tenant trading as Corner 33 Cafe/Restaurant
  • Ground and basement let on 10 year lease from July 2020 (no breaks)
  • Prominent corner location less than half a mile from Boscombe beach
  • Attractive and affluent seaside town
  • Includes 8 flats on ground, first and second floors let on 125 year leases from 2017 with fixed rental uplifts
  • Lot
    4
  • Auction
    04/Nov/2021
  • Rent
    £12,850 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price*
     
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • 33 Sea Road, Boscombe, Bournemouth, BH5 1DH
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
2 miles east of Bournemouth
3 miles west of Christchurch
Roads
A31, A338, M27
Rail
Bournemouth
Air
Southampton Airport
Situation

Boscombe is an attractive seaside suburb of Bournemouth approximately 2 miles east of the town centre and approximately 3 miles miles west of Christchurch. The property is located in a prominent corner position on the west side of Sea Road, at it's junction with both Cecil Road and Windsor Road, and just a short walk to Boscombe Beach. Nearby occupiers include Primark, KFC, Subway and various independent shops, restaurants and offices.

Tenure

Freehold.

Description

The property comprises a ground and basement floor caf/restaurant together with 8 flats on the ground, first and second floors which have been let on long leases.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

D. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews
Ground
Basement
Cafe/Restaurant
Ancillary
55.10 sq m
9.93 sq m
(593 sq ft)
(107 sq ft)
SCYA LIMITED
t/a Corner 33
Cafe (1)
10 years from 31/07/2020
until 30/07/2030
£11,00031/07/2025
Flats 1-7Residential
-
7 leases let to
various
individuals
7 leases all 125 years from 2017 until 2142£1,750
(£250 each)
Fixed rental uplifts
every 15 years (2)
Flat 8Residential
-
INDIVIDUAL7 leases all 125 years from
2017 until 2142
£100Fixed rental uplifts
every 15 years (3)

(1) Launched in late 2020, Corner 33 is a bright, lofty cafe and bar located between Boscombe High Street and the beach (www.corner33.co.uk).
(2) Fixed rental uplifts to 500 on 1 January 2033, 750 on 1 January 2048, 1,000 on 1 January 2063, 1,250 on 1 January 2078, 1,500 on 1 January 2093 and
1,750 on 1 January 2107 for the remainder of the term - please see legal pack for full details.
(3) Fixed rental uplift to 200 on 1 January 2032, 300 on 1 January 2047, 400 on 1 January 2062, 500 on 1 January 2077, 600 on 1 January 2092 and
700 on 1 January 2107 for the remainder of the term - please see legal pack for full details.
NB: The seller has served notices on the residential tenants, pursuant to section 5B of the Landlord & Tenant Act 1987. No acceptance notices have been received from the tenants within the permitted period.

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.

Property Documents

  • Catalogue Page
    Updated Date
    15.10.21
    File Size
    746 KB
    View PDF
  • Site Plan
    Updated Date
    15.10.21
    File Size
    863 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
George GoucherGeorge Goucher +44 (0)20 7034 4860 +44 (0)7513 610 710george.goucher@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Higgs LLP 3 Waterfront Business Park
Brierley Hill
DY5 1LX
Becky Pickering 01384 327272Becky.Pickering@higgsllp.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now