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Lot 14

Commercial Investment – Gross Yield 9.6%
6 Week Completion

Situation

Located close to the junction with Pinewood Avenue within this established local parade serving the surrounding residential population approx. 4 miles north of Bournemouth town centre.
Bournemouth is a popular seaside resort on the south coast, approximately 30 miles south-west of Southampton.

Property

Forming part of a terraced parade comprising a Ground Floor Triple Shop. The property includes a front forecourt for parking up to 3 cars. In addition, there is rear access to the property from Pinewood Avenue.

Accommodation

Ground Floor Triple Shop
Gross Frontage 55'11"
Internal Width 53'5"
Shop Depth 15'6"
Built Depth 46'2" (max)
Area incl. Open Plan Nail Bar,
3 Treatment Rooms, Salon
& Staff/Ancillary Approx 1,665 sq ft
WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 22nd June 2011 at a fixed ground rent of £100 p.a.

Tenancy

The property is let on a full repairing and insuring lease (subject to a schedule of condition) to E. Dilworth t/a Butterfly Nails and Beauty for a term of 10 years from 10th July 2019 at a current rent of £12,000 per annum exclusive.

Rent Review and Tenants Break 2024

Note: There is a £3,000 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

1–3 Ashridge Parade, 1316/1320 Wimborne Road, Northbourne, Bournemouth, Dorset BH10 7AN