Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
3.5 miles east of Bournemouth, 26 miles south-west of Southampton
Roads
A35, A338
Rail
Pokesdown Rail
Air
Bournemouth Airport
Situation
The property is situated in an excellent trading position on the busy Southbourne Grove, Southbourne’s main retailing pitch, and in an affluent coastal suburb some 3.5 miles east of Bournemouth. Nearby occupiers include Costa Coffee, Tesco Express, Londis and Coral Betting.
Tenure
Virtual Freehold. Held from Southbourne Grove LLP for a term of
999 years from 1st January 2015 at a peppercorn rent.
Location
Miles
3.5 miles east of Bournemouth, 26 miles south-west of Southampton
Roads
A35, A338
Rail
Pokesdown Rail
Air
Bournemouth Airport
Situation
The property is situated in an excellent trading position on the busy Southbourne Grove, Southbourne’s main retailing pitch, and in an affluent coastal suburb some 3.5 miles east of Bournemouth. Nearby occupiers include Costa Coffee, Tesco Express, Londis and Coral Betting.
Tenure
Virtual Freehold. Held from Southbourne Grove LLP for a term of
999 years from 1st January 2015 at a peppercorn rent.
Description
The property comprises a ground floor retail unit providing outstanding frontage currently trading as a supermarket and benefits from air conditioning, a 24 hour ATM machine and storage/ancillary accommodation to the rear.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
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 a ground floor retail unit providing outstanding frontage currently trading as a supermarket and benefits from air conditioning, a 24 hour ATM machine and storage/ancillary accommodation to the rear.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
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
Ground
Retail
399 sq m
(4,295 sq ft)
SAINSBURY’S SUPERMARKETS LTD (1)
15 years from 09/11/2012 until 08/11/2027 on a full repairing and insuring lease (2)
£62,000
09/11/2017 and 09/11/2022 (3)
Totals
399 sq m
(4,295 sq ft)
£62,000
(1) For the year ending 15th March 2014, Sainsbury’s Supermarkets Ltd reported a turnover of £23,919,000,000, pre-tax profits of £810,000,000 and a total net worth of £4,706,000,000. (Source: www.riskdisk.com 20/04/2015) (2)The lease provides an option to determine on 9th November 2022. (3)The lease provides RPI linked upwards only rent reviews to a minimum of 5.1010% and maximum of 21.6652%.
