95 Old Christchurch Road Bournemouth Dorset BH1 1EP

95 Old Christchurch Road
Bournemouth
Dorset
BH1 1EP

Freehold Retail and Residential Investment

Two let retail units on a prime pedestrianised pitch in an affluent coastal town
Let until 2024 and 2028 (recently extended lease)
Nearby to large 935 space multi-storey car park
Neighbouring occupiers include Costa Coffee, Caffè Nero, TK Maxx, Greggs, Superdry, Mango, Toni & Guy, Wilko and Halifax, HSBC, TSB and Lloyds banks

Lot
36
Auction
14th February 2019
Rent
£44,518 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Retail and Residential Investment

Two let retail units on a prime pedestrianised pitch in an affluent coastal town
Let until 2024 and 2028 (recently extended lease)
Nearby to large 935 space multi-storey car park
Neighbouring occupiers include Costa Coffee, Caffè Nero, TK Maxx, Greggs, Superdry, Mango, Toni & Guy, Wilko and Halifax, HSBC, TSB and Lloyds banks

Lot 36
Auction 14th February 2019
Rent £44,518 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 5 miles east of Poole, 33 miles south-west of Southampton, 40 miles south-west of Winchester
Roads: A338, A31, M27, M3
Rail: Bournemouth Train Station
Air: Bournemouth Airport, Southampton Airport, Bristol Airport

Situation

Bournemouth is a large and affluent coastal town in the county of Dorset some 5 miles east of Poole and 33 miles south-west of Southampton. The property is prominently located in a town centre position on the north side of the prime pedestrianised Old Christchurch Road, close to a multi-storey car park providing parking for approximately 935 cars. Other nearby occupiers include Costa Coffee, Caffè Nero, TK Maxx, Greggs, Superdry, Mango, Toni & Guy, Wilko and Halifax, HSBC, TSB and Lloyds banks.

Tenure

Freehold.

Location

Miles: 5 miles east of Poole, 33 miles south-west of Southampton, 40 miles south-west of Winchester
Roads: A338, A31, M27, M3
Rail: Bournemouth Train Station
Air: Bournemouth Airport, Southampton Airport, Bristol Airport

Situation

Tenure

Freehold.

Description

The property comprises two ground floor retail units trading as a currency exchange and a men’s hairdressing business with a basement tanning salon extending below both units. The first, second, third and fourth floors comprise 5 residential flats.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/ (Reversion)
95 95	Ground Basement	Retail Retail	41.90 sq m 57.20 sq m	(451 sq ft) (615 sq ft)	INDIVIDUALS t/a Bond’s Gentleman’s Barbershop (1)	25/03/2014 until 25/03/2028 (2)	£17,000	25/03/2022 and 25/03/2025 (25/03/2028)
95a	Ground	Retail	51.10 sq m	(550 sq ft)	KANOO TRAVEL LIMITED t/a Kanoo Foreign Exchange (3)	10 years from 25/12/2014	£27,518.75 (4)	25/12/2019 (24/12/2024)
Flat 1, 2, 3, 4 & 5	First, Second, Third & Fourth	Residential	Five Flats		OLD CHRISTCHURCH ROAD LLP	999 years from 25/12/2002	Peppercorn	(24/12/3001)
Total Commercial Area			150.20 sq m	(1,616 sq ft)			£44,518.75

(1) Bond’s is a flagship barber shop headed up by the country’s first qualified master barber (Source: www.bondsbarbershop.co.uk 03/01/2019). The tenant did NOT exercise their March 2017 break option and has extended the lease. They have refurbished the basement in which they now operate a tanning salon.
(2) The original lease term was 6 years from 25th March 2014. This has been extended to expire in 2028. The lease provides for a tenant option to determine in March 2024.
(3) Kanoo Travel Limited is an American Express franchise partner. The family-owned Kanoo Travel Group is the largest travel company in
the Middle East, with a team of travel specialists in over 180 offices in the region and over 200 offices worldwide. Kanoo also operates in
16 cities [in the UK] on the high street offering foreign exchange services (Source: www.kanootravel.co.uk 21/01/2019).
(4) The rent reserved under the terms of the lease is £27,518.75 pa, so long as the lease is vested in Kanoo Travel Limited, otherwise the rent reserved is £29,750 pa.