Commercial investment - 28-30 Southbourne Grove, Southbourne, BH6 3RA
|Property Term:||For Sale|
|Price:||£900,000 offers on|
Southbourne is a very popular, affluent residential coastal suburb midway between Bournemouth and Christchurch Town Centres.
Southbourne Grove is the principal shopping area serving Southbourne and adjacent suburbs Boscombe East and Tuckton and has enjoyed considerable growth in recent years.
Southbourne Grove has a very good mix of national and successful local businesses including Boots the Chemist, Lloyds Bank, Natwest, Hays Travel, Costa Coffee, Coffee No. 1 and Loungers. The subject property is situated in probably the best location in Southbourne Grove on the northern side of the road in the very heart of this thriving suburb.
ACCOMMODATION & LEASES
NIA - 3359 sq ft
ITZA – 1391 sq ft
Let to Tesco Stores Ltd on a reversionary full repairing and insuring lease for a term of 15 years from 29.9.18 subject to a tenant only break clause at the end of year 10 at a current rent of £46,000 per annum exclusive. There are provisions for 5 year rent reviews upwards only to open market value
9 flats over all sold off on 99 year ground leases from 25.03.2003 (approx. 82 years unexpired) at ground rents of £150 pa each
TOTAL INCOME - £47,350 per annum exclusive
£900,000 for the freehold
We understand from the managing agents that there is NO VAT payable on the purchase price.
Property Misdescription Act and Misrepresentation Act: These particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract. Nettleship Sawyer cannot guarantee the accuracy of any description, dimension, references to condition, necessary permissions for use and occupation and other details contained herein and the prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. No employee of Nettleship Sawyer has any authority to make or give any representations or warranty or enter into any contract whatever in relation to the property. Rents or prices quoted in these particulars may in addition be subject to VAT. Nettleship Sawyer will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars.