Let to Majestic Wine Warehouses Limited until 2032 (subject to option)
In occupation since 2002
May 2022 and 2027 Rent reviews
Development Potential(subject to gaining vacant possession and appropriate consents)
Busy town Centre location with on site car parking
Lot 2
Auction 21st July 2021
Rent £41,500 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue Live Streamed Auction
On behalf of Trustees
Property Information
Location
Miles
55 miles east of Exeter, 61 miles south of Bristol, 28 miles west of Bournemouth
Roads
B3150, A35, A37
Rail
Dorchester West Rail, Dorchester South Rail
Air
Bournemouth International Airport
Situation
Dorchester is the county town of Dorset. The property is prominently situated in the town centre on the south side of High East Street (B3150), which is the main arterial route through town, less than a mile north-east of both Dorchester West and South Railway Stations. Nearby occupiers include a number of local retailers, restaurants and cafes.
Tenure
Freehold.
Location
Miles
55 miles east of Exeter, 61 miles south of Bristol, 28 miles west of Bournemouth
Roads
B3150, A35, A37
Rail
Dorchester West Rail, Dorchester South Rail
Air
Bournemouth International Airport
Situation
Dorchester is the county town of Dorset. The property is prominently situated in the town centre on the south side of High East Street (B3150), which is the main arterial route through town, less than a mile north-east of both Dorchester West and South Railway Stations. Nearby occupiers include a number of local retailers, restaurants and cafes.
Tenure
Freehold.
Description
The property comprises Retail accommodation on the ground floor and Ancillary accommodation on the first floor. There is a yard to the rear which provides a loading area and customer car parking.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises Retail accommodation on the ground floor and Ancillary accommodation on the first floor. There is a yard to the rear which provides a loading area and customer car parking.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/ (Reversion)
Ground First
Retail Ancillary
275.20 sq m 149.90 sq m
(2,962 sq ft) (1,613 sq ft)
MAJESTIC WINE WAREHOUSES LIMITED (1)
15 years from 12/05/2017 (2) on a full repairing and insuring lease
£41,500 (3)
12/05/2022 and 12/05/2027 (11/05/2032)
Total
425.10 sq m
(4,575 sq ft)
£41,500 (3)
(1) For the year ending 30th March 2020, Majestic Wine Warehouses Limited reported a turnover of £303,390,000, a pre-tax profit of £425,000 and shareholder funds of £39,012,000 (Source: NorthRow 24/06/2021). Majestic Wine is the Uk's largest specialist wine retailer. Originally founded in 1980, there are now almost 200 stores across the UK (Source: https://www.majestic.co.uk/about 24/06/2021). (2) The lease provides for a tenant option to determine on 12/05/2027. (3) The tenant has been paying the rent monthly instead of quarterly since March 2020. Full details available in the legal pack.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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