Bournemouth is a large and affluent coastal town in the county of Dorset some 5 miles east of Poole and 33 miles south-west of Southampton. It benefits from an excellent seasonal tourist industry as well as an extensive student population. The property is prominently located in a town centre position on the south side of the prime pedestrianised Old Christchurch Road, south of the Richmond Gardens multi-storey car park providing parking for approximately 935 cars. The Arcade extends through to the road parallel, St Peter’s Road. Other nearby occupiers include Costa Coffee, Caffè Nero, TK Maxx, Greggs, Superdry, Mango, Toni & Guy, Wilko, Halifax, HSBC, TSB and Lloyds banks.
Tenure
Freehold.
Location
Miles
5 miles east of Poole, 33 miles south-west of Southampton, 40 miles south-west of Winchester
Bournemouth is a large and affluent coastal town in the county of Dorset some 5 miles east of Poole and 33 miles south-west of Southampton. It benefits from an excellent seasonal tourist industry as well as an extensive student population. The property is prominently located in a town centre position on the south side of the prime pedestrianised Old Christchurch Road, south of the Richmond Gardens multi-storey car park providing parking for approximately 935 cars. The Arcade extends through to the road parallel, St Peter’s Road. Other nearby occupiers include Costa Coffee, Caffè Nero, TK Maxx, Greggs, Superdry, Mango, Toni & Guy, Wilko, Halifax, HSBC, TSB and Lloyds banks.
Tenure
Freehold.
Description
The property comprises a four storey mixed use building with retail accommodation to the ground floor made up of two large units fronting Old Christchurch Road with an internal arcade of smaller units behind which can also be accessed via St. Peter's Road. Tenants include Card Factory and Esquires Coffee with a mix of local retailers providing a current gross rent of £200,588 per annum. The upper floors provide office accommodation accessed from a central core where there is a lift and stairwell providing access to all floors. There are a series of local office occupiers on the upper parts producing a rent of £96,843 per annum. To the basement is a secure car park providing 27 car-parking spaces. There is a caretaker's flat on the third floor.
VAT
VAT is applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents and current tenancies. There is a lapsed planning permission reference: 7-2016-1617-AY which provided consent for "Alterations and extensions to form 9 additional flats, formation of bin and cycle stores". Interested Parties are referred to Bournemouth, Poole and Christchurch Council - www.bcpcouncil.gov.uk Tel: 01202 123 321
Completion Period
6 week completion available.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a four storey mixed use building with retail accommodation to the ground floor made up of two large units fronting Old Christchurch Road with an internal arcade of smaller units behind which can also be accessed via St. Peter's Road. Tenants include Card Factory and Esquires Coffee with a mix of local retailers providing a current gross rent of £200,588 per annum. The upper floors provide office accommodation accessed from a central core where there is a lift and stairwell providing access to all floors. There are a series of local office occupiers on the upper parts producing a rent of £96,843 per annum. To the basement is a secure car park providing 27 car-parking spaces. There is a caretaker's flat on the third floor.
VAT
VAT is applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents and current tenancies. There is a lapsed planning permission reference: 7-2016-1617-AY which provided consent for "Alterations and extensions to form 9 additional flats, formation of bin and cycle stores". Interested Parties are referred to Bournemouth, Poole and Christchurch Council - www.bcpcouncil.gov.uk Tel: 01202 123 321
Completion Period
6 week completion available.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Net Internal Floor Areas Approx sq m
Net Internal Floor Areas Approx sq ft
Description
Rent p.a.x.
1, 2, 3, 4, 5, 7, 9, 10-12, 13, Arcade kiosk
Ground
Retail
580.34
(6,246)
VARIOUS LEASES ON VARIOUS TERMS, FULL DETAILS AVAILABLE WITHIN THE LEGAL PACK
VARIOUS LEASES ON VARIOUS TERMS, FULL DETAILS AVAILABLE WITHIN THE LEGAL PACK
£35,036
Front Office, Rear Suite A
Second
Office
301.76
(3,248)
VARIOUS LEASES ON VARIOUS TERMS, FULL DETAILS AVAILABLE WITHIN THE LEGAL PACK
£36,732
Suite B, Store
Second
Office/ Storage
135.17
(1,454)
VACANT
Suite A
Third
Office
139.00
(1,494)
QUAY CREW LTD FROM 01/03/2022 UNTIL 28/02/2027
£20,426
Suite B
Third
Office
99.00
(1,065)
VACANT
Caretaker's Flat
Third
Residential
52.00
(560)
ELLIS AND PARTNERS LTD FROM 01/06/2022 UNTIL 31/05/2023
£3,500
Totals
1,940.76
(20,890)
£297,431
Please note, a full tenancy schedule is available within the Legal Pack.
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.
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