Retail investment property for sale in Bournemouth

This property is marketed by:
Nettleship Sawyer

Key features:

♦ Established commercial tenant

♦ Let on unbroken lease to 2033 at current rent of £6,000 pax

♦ 4 flats over sold off each paying £250 pa ground rent

LOCATION

The property is situated midway along this busy main arterial road approximately 50 yards from Aldi and Tesco Express opposite.

There is a good mix of established retailers, takeaways and office occupiers within the immediate vicinity and the premises benefit from on street parking opposite and being immediately adjacent a pelican crossing.

ACCOMMODATION

Ground floor

Shop

Street frontage 18’ 2” 

Internal Width  17’ 1” max

               15' 3" min

Depth          22’ 8" max

               14’ 1" min

Net Retail Area 301 sq ft 

Cloakroom / WC

LEASES

The shop is let to an established gents barbers on an original 15 year full repairing and insuring lease from 20th April 2018 at a current rent of £6,000 pax paid monthly in advance, subject to 3 year rent reviews (RPI linked uncapped / uncollared)

The 4 upper floor flats are all sold off as follows:

Flat 1   99 year lease from 25.9.2014 at £250 pa doubling every 25 years

Flat 1b 125 year lease from 1.1.2014 at £250 pa doubling every 25 years

Flat 2  125 year lease from 1.1.2014 at £250 pa doubling every 25 years

Flat 3  125 year lease from 1.1.2014 at £250 pa doubling every 25 years

Total Net Income - £7,000 pax 

PRICE

£74,950 for the freehold interest, subject to and with the benefit of the occupational lease of the ground floor shop and ground leases of the 4 flats over.