Charles Fox Jewellers 21/22 Bournemouth Arcade Bournemouth Dorset BH1 2AH

Charles Fox Jewellers
21/22 Bournemouth Arcade
Bournemouth
Dorset
BH1 2AH

Long-Let Retail Investment

Let to Charles Fox (Jewellers) Limited
Held on two leases both expiring August 2068 (no breaks)
Charles Fox established in 1876
Exclusive Rolex dealer on South Coast - in partnership with Charles Fox for over 50 years
Approximately 4,464 sq ft
Tenant expanding into next door shop
Forms part of prestigious Victorian Shopping Arcade with tenants including Maravi & Wellness, Space NK and Waterstones
Other nearby occupiers include Côte, Pandora, Superdry, McDonald's and JD Wetherspoon

Lot
9
Auction
13th July 2023
Rent
£111,106 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Live Streamed Auction

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Long-Let Retail Investment

Let to Charles Fox (Jewellers) Limited
Held on two leases both expiring August 2068 (no breaks)
Charles Fox established in 1876
Exclusive Rolex dealer on South Coast - in partnership with Charles Fox for over 50 years
Approximately 4,464 sq ft
Tenant expanding into next door shop
Forms part of prestigious Victorian Shopping Arcade with tenants including Maravi & Wellness, Space NK and Waterstones
Other nearby occupiers include Côte, Pandora, Superdry, McDonald's and JD Wetherspoon

Lot 9
Auction 13th July 2023
Rent £111,106 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 6 miles east of Poole, 30 miles west of Southampton
Roads: A31, A35, A338, M27
Rail: Bournemouth Railway Station
Air: Bournemouth Airport

Situation

The property forms part of Bournemouth Arcade, a prestigious Victorian Shopping Arcade, between Old Christchurch Road and Gervis Place, where retailers include Maravi & Wellness, Space NK, Ernest Jones, Aracde Jewellers and Waterstones as well as various independent boutiques. Other nearby occupiers include Côte, Pandora, Superdry, McDonald's and JD Wetherspoon. The property is located very close to the former House of Fraser Department Store, where a conversion of the existing building into a mixed-use scheme comprising 10 shops, a night club and student accommodation consisting of 129 rooms has been proposed.

Tenure

Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent.

Location

Miles: 6 miles east of Poole, 30 miles west of Southampton
Roads: A31, A35, A338, M27
Rail: Bournemouth Railway Station
Air: Bournemouth Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent.

Description

The property comprises a large double fronted shop, workshop and ancillary accommodation arranged on the ground, basement, first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

The property comprises a large double fronted shop, workshop and ancillary accommodation arranged on the ground, basement, first and second floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Rent Review (Reversion)
Ground Basement First Second	Retail/Workshop/Ancillary Ancillary Ancillary Ancillary	120.80 152.30 81.50 60.20	(1,300) (1,639) (877) (648)	CHARLES FOX (JEWELLERS) LIMITED (2)	Held on two co-terminous leases each for a term of 99 years from 21/08/1969	£111,106	21/08/2025 and 14 yearly thereafter (20/08/2068)
Total		414.80	(4,464)			£111,106

(1) Areas provided by VOA (https://www.tax.service.gov.uk/business-rates)
(2) Charles Fox has been the leading luxury watch and jewellery retailer on the south coast for many decades, having been established for over 140 years. Originally having three shops in the town, the three were amalgamated to the current location about 100 years ago. The tenant has just completed a new lease at the adjoining unit, 20 Bournemouth Arcade (see Lot xx), showing commitment to Bournemouth Arcade. Charles Fox has been in partnership with Rolex for over 50 years and retains a Rolex-accredited watchmaker to advise customers on their Rolex watch servicing needs (www.charlesfoxjewellers.com). For the year ending 31st January 2022, Charles Fox (Jewellers) Limited reported total assets of £4,025,117, net assets of £2,633,257 and a net worth of £2,633,257 (www.northrow.com).

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.