Let to Whitecross Dental Care Limited with a guarantee from Integrated Dental Holdings Limited
15 year lease renewal from 22nd July 2021 (subject to options)
12 month rental break penalty at year 5 if break option exercised
Re-based rent
Rent rising to £23,759.57 pa in July 2026 and rising to £26,881.78 pa in July 2031
VAT-free Dental Surgery Investment
Lot 20
Auction 24th September 2021
Rent £21,000 per Annum Exclusive
Status Sold Post
Price
Sector Medical Centre/Doctors, Healthcare
Auction Venue Live Streamed Auction
Property Information
Location
Miles
13 miles west of Carmarthen
38 miles north west of Swansea
Roads
A40
Rail
Whitland Railway Station
Situation
Whitland is located approximately 13 miles north of Tenby and 38 miles north-west of Swansea. The property is prominently situated in the centre of Whitland, on the west side of St John's Street approximately 100 metres north of Whitland Railway Station.
Tenure
Freehold.
Location
Miles
13 miles west of Carmarthen
38 miles north west of Swansea
Roads
A40
Rail
Whitland Railway Station
Situation
Whitland is located approximately 13 miles north of Tenby and 38 miles north-west of Swansea. The property is prominently situated in the centre of Whitland, on the west side of St John's Street approximately 100 metres north of Whitland Railway Station.
Tenure
Freehold.
Description
The property comprises a Dental Surgery arranged on the ground and first floors.
VAT
VAT is not applicable to this lot.
Note
Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Description
The property comprises a Dental Surgery arranged on the ground and first floors.
VAT
VAT is not applicable to this lot.
Note
Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground First
Dental Practice Ancillary
127.40 sq m 60.11 sq m
(1,371 sq ft) (647 sq ft)
WHITECROSS DENTAL CARE LIMITED with a guarantee from INTEGRATED DENTAL HOLDINGS LIMITED (2)
15 years from 22/07/2021 until 21/07/2036 (3) on a full repairing and insuring lease
£21,000 rising to £23,759.57 in July 2026 rising to £26,881.78 in July 2031
Total
187.51 sq m
(2,018 sq ft) (1)
£21,000 (with fixed rental uplifts every 5 years)
(1) Floor areas provided by the Valuation Office Agency (www.gov.uk). (2) For the year ending 31st March 2019, Whitecross Dental Care limited reported a turnover of £166,771,000, a pre-tax profit of negative £56,039,000 and shareholder funds of £5,341,000. Integrated Dental Holdings Limited did not report a turnover or pre-tax profit, but reported a total net worth of £18,263,000 (Source: NorthRow 27/07/2021). (3) The lease provides for a tenant option to determine the lease on 22/07/2026 and 22/07/2031. The tenant has agreed a 12 month rental break penalty if they exercise the option at the expiry of the 5th year.
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.
