Investment opportunity for sale in Bournemouth

This property is marketed by:
Nettleship Sawyer

Location

The property is very prominently located on this busy main arterial road at the junction with Cleveland Road. Holdehurst Road runs parallel to the main A338 Wessex Way, the principal route providing access across the Bournemouth/Poole/Christchurch conurbation.

There is a good mix of local and national occupiers in Holdenhurst Road including Aldi, Co-op, Halfords Autocentres and National Tyres.

Accommodation

Showroom

Internal Width - 68’ 3” max

Depth             - 59’4”

Net Floor Area - 3,745 sq ft

Car parking on forecourt and 7 spaces in rear car park.

Flats Over

23 two bed flats and car parking in rear car park.

Leases

Ground Floor Showroom

Let to Parts Alliance Group, trading as GSF with 200 branches nationwide on a 6 year lease from July 2021 (with a further 6 year option) at a rent of £28,000 pax, subject to 3rd year tenant only break clause and 5th year RPI lined rent review (capped and collared at 5/2%) on full repairing and insuring terms.

Flats Over

23 flats all sold off on 99-year ground leases from June 2000 currently producing £5,263.71 pax, subject to 5 year RPI linked rent reviews throughout the term.

Although 13 of the leases have been extended only 6 flats no longer pay ground rent. 10 leases have an unexpired term of approx. 78 years.

Price

Offers invited of £400,000 for the freehold interest, subject to the occupational lease on the showroom and the ground leases on the flats over.