Let to Prezzo Plc on a 25 Year Lease until 2039 (no breaks)
Prominent position in prime leisure area between town centre and seafront
Nearby occupiers include Premier Inn, Odeon Cinemas, The Pavilion Theatre and Chimichanga Restaurant
Rent rising from £85,000 to £95,000
Lot 39
Auction 23rd October 2014
Status Sold
Price £1,130,000
Sector Restaurant
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
33 miles south-west of Southampton, 28 miles south of Salisbury, 40 miles south-west of Winchester
Roads
A338, A35, A31, M27, M3
Rail
Bournemouth Railway Station
Air
Bournemouth Airport
Situation
The property is situated in a prominent corner location on the northern side of the prestigious Westover Road, just off Bath Road (A3066) which is the main road into Bournemouth town centre. The property lies in a prime leisure location between the town centre and the seafront less than 100 metres from three major council car parks providing a total of over 450 parking spaces. Nearby occupiers include Premier Inn, Odeon Cinemas, Grosvenor Casino, The
Pavilion Theatre, Chimichanga Restaurant and the iconic Royal Bath Hotel.
Tenure
Virtual Freehold. Held for a term of 999 years from 25th December 2001 with a ground rent of £1.
Location
Miles
33 miles south-west of Southampton, 28 miles south of Salisbury, 40 miles south-west of Winchester
Roads
A338, A35, A31, M27, M3
Rail
Bournemouth Railway Station
Air
Bournemouth Airport
Situation
The property is situated in a prominent corner location on the northern side of the prestigious Westover Road, just off Bath Road (A3066) which is the main road into Bournemouth town centre. The property lies in a prime leisure location between the town centre and the seafront less than 100 metres from three major council car parks providing a total of over 450 parking spaces. Nearby occupiers include Premier Inn, Odeon Cinemas, Grosvenor Casino, The
Pavilion Theatre, Chimichanga Restaurant and the iconic Royal Bath Hotel.
Tenure
Virtual Freehold. Held for a term of 999 years from 25th December 2001 with a ground rent of £1.
Description
The property comprises an upper ground floor restaurant which benefits from an outdoor seating area and a lift designed for wheelchair users.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises an upper ground floor restaurant which benefits from an outdoor seating area and a lift designed for wheelchair users.
Six Week Completion
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Upper Ground
Restaurant
258.39 sq m
(2,781 sq ft)
PREZZO PLC (1)
25 years from completion on a full repairing lease
£85,000
5 yearly with minimum uplift at first review to £95,000
Totals
258.39 sq m
(2,781 sq ft)
£85,000
(1) For the year ending 29th December 2013, Prezzo plc reported a turnover of £166,541,000, pre-tax profits of £18,449,000 and a total net worth of £105,802,000 (Source: www.riskdisk.com 19/09/2014)
