Let to Co-operative Foodstores Limited (guaranteed by Co-operative Group Food Limited) until 2034 (no breaks)
Approximately 1,993 sq m (21,448 sq ft)
Freehold includes shopping centre car park
Approximate site area of 0.46 hectares (1.14 acres)
Historic and Affluent Market Town Location
Nearby occupiers including M & Co, WH Smith, Crew Clothing, Millets & Waitrose
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 9
Auction 16th February 2017
Rent £300,560 per Annum Exclusive
Status Sold
Price £4,805,000
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Joint LPA Receivers
Property Information
Location
Miles
9 miles north-west of Bournemouth, 30 miles south-west of Southampton
Roads
A31, A3049, A350
Rail
Bournemouth Rail Station
Air
Bournemouth Airport
Situation
The property is situated some 200 metres from High Street and The Square in the centre of town and anchors the established Crown Mead Shopping Centre. Nearby occupiers include M & Co, WH Smith, Crew Clothing, Millets & Waitrose.
Tenure
Freehold.
Location
Miles
9 miles north-west of Bournemouth, 30 miles south-west of Southampton
Roads
A31, A3049, A350
Rail
Bournemouth Rail Station
Air
Bournemouth Airport
Situation
The property is situated some 200 metres from High Street and The Square in the centre of town and anchors the established Crown Mead Shopping Centre. Nearby occupiers include M & Co, WH Smith, Crew Clothing, Millets & Waitrose.
Tenure
Freehold.
Description
The property comprises a substantial supermarket with retail accommodation on ground floor and ancillary accommodation on the first floor. The property benefits from an extensive customer car park providing approximately 77 spaces and an approximate site area of 0.46 hectares (1.14 acres).
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in
respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial supermarket with retail accommodation on ground floor and ancillary accommodation on the first floor. The property benefits from an extensive customer car park providing approximately 77 spaces and an approximate site area of 0.46 hectares (1.14 acres).
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in
respect of this sale without personal liability.
Completion Period
Six Week Completion
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 First
Retail/Ancillary Ancillary
1,691 sq m 302 sq m
(18,200 sq ft) (3,248 sq ft)
CO-OPERATIVE FOODSTORES LIMITED (guaranteed by Co-operative Group Food Limited) (1)
50 years from 28/09/1984 until 27/09/2034 on a full repairing and insuring lease
£300,560
27/09/2019 and five yearly
Total
1,993 sq m
(21,448 sq ft)
£300,560
1) For the year ending 2nd January 2016, Co-operative Foodstores Limited reported a revenue of £284.9m, pre-tax profits of £12.3m and net assets of £403.7m. (Source: Mutuals Public Register 18/01/2017 Annual Return & Accounts) For the year ending 2nd January 2016, Co-operative Group Food Limited reported a turnover of £6,475,500,000, pre-tax profits of -£429,600,000 and a net worth of £1,385,500,000. (Source: Experian Group)
Contacts
Seller's Solicitors
DWF LLP 5 St Paul's Square, Old Hall Street Liverpool L3 9AE
