Lot 25 Click here for addendum
6 Week Completion
Situation
Occupying a busy trading position in the prime pedestrianised part of the town centre, adjacent to Leeds Building Society and amongst such other multiples including Toni & Guy, Specsavers, Yorkshire Building Society, Card Factory, Halifax, Ladbrokes and TSB Bank.
Bournemouth is a popular seaside resort situated on the south coast approximately 30 miles south-west of Southampton and just under 6 miles east of Poole, enjoying excellent road access via the A31 to the M27.
Property
A mid-terrace Grade II Listed building comprising 2 Ground Floor Shops (one with Basement extending under both shops) and separate rear access to 5 Self-Contained Flats on the four upper floors.
VAT is NOT applicable to this Lot
Freehold
Note 1: The lessee of the 5 flats submitted a Listed Building Planning Application to the Council in June 2018 to renovate the front facade above the shops at the lessee's expense.
Tenant Profile
No. 95 - ‘Bonds' is the flagship barbershop of Mike Taylor who was the first in the UK to be crowned a master craftsman and he has his own training academy in Poole (Source: www.bondsbarbershop.co.uk).
No. 95a - Kanoo Travel bought the foreign exchange business of Amex who were the previous occupiers and the unit has been used for this trade for over 20 years. Kanoo Travel operate from 16 branches and for Y/E 31/12/17 reported a T/O of £6.27m, Pre-Tax Profit of £41,080 and Shareholders' Funds of £3.47m.
Note 2: No. 95 (Shop & Basement) - A Deed of Variation and Extension was completed on 21st June 2018 extending the Lease for a further period of 8 years from 25th March 2020 to 25th March 2028 and requiring the Tenants to fully renovate the basement area of the Premises (which spans both shops) to at least the same standard as the ground floor for use as a men's grooming business.
