Acquired
Bournemouth – Shop & 3 Flats
55/57 Southbourne Grove & Chinewood Mews, Bournemouth BH6 3QUFreehold Retail & Residential Investment
Tenure
Freehold
Lease Term
5 Years
Years Left on Lease
1y 2m
Area
2,263 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises ground floor shop and three residential flats arranged over ground, first and second floor.
- Property benefits from parking space at rear
- Total area size of 210 sq m (2,263 sq ft)
- Nearby occupiers include Sainsbury’s, NatWest, Costa Coffee, Tesco, and Boots amongst others
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises a ground floor shop and three self-contained flats arranged over ground, first and second floor. Flats have separate access at rear and benefit from 1 parking space.
The property provides the following accommodation and dimensions:
Ground Floor Shop: 62 sq m (670 sq ft)
Ground/First Floor Flat: 2 Rooms, Kitchen, Bathroom 55 sq m (592 sq ft)
First Floor Flat: 2 Rooms, Kitchen, Bathroom 45 sq m (484 sq ft)
Second Floor Flat: 3 Rooms, Kitchen, Bathroom 48 sq m (517 sq ft)
Total area size: 210 sq m (2,263 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor Shop: 62 sq m (670 sq ft)
Ground/First Floor Flat: 2 Rooms, Kitchen, Bathroom 55 sq m (592 sq ft)
First Floor Flat: 2 Rooms, Kitchen, Bathroom 45 sq m (484 sq ft)
Second Floor Flat: 3 Rooms, Kitchen, Bathroom 48 sq m (517 sq ft)
Total area size: 210 sq m (2,263 sq ft)
Tenancy Description
The ground floor shop is at present let to an Individual t/a Tillys Gifts for a term of 5 years from 12th March 2021 at a current rent of £13,500 per annum and the lease contains full repairing and insuring covenants. Break clause in 2024 with minimum 6 Months notice. Deposit held of £3,000. Tenant in occupation since 2016.Flat 1 is at present let on AST to an Individual for a term of 12 Months from 7th May 2018 (Holding Over) at a current rent of £7,680 per annum.Rent deposit held of £825. Flat 2 is at present let on AST to an Individual for a term of 6 Months from 19 May 2020 (Holding Over) at a current rent of £7,800 per annum. Flat 3 is at present let on AST to an Individual for a term of 12 Months from 10th April 2018 (Holding Over) at a current rent of £10,200 per annum. Rent deposit held of £1,025
Tenancies & Accommodation
Location Description
The property is situated on the south side of Southbourne Grove in the centre of Southbourne, an affluent residential and shopping suburb approximately 3 miles east of Bournemouth. Bournemouth lies on the South Coast approximately 25 miles south-west of Southampton and 36 miles south-east of Yeovil. The A38 links with the A31 to the north of the town whilst the A35 provides access to Poole and Dorchester to the west. Pokesdown Rail Station is located some 900m from the property and provides regular services to London Waterloo (1 hr 54 mins). Occupiers close by include Sainsbury’s (opposite), Natwest, Costa Coffee, Hays Travel, Tesco Express, and Boots amongst others.
