Let to Oasis Dental Care (Central) Limited with a guarantee from Oasis Healthcare Limited
Lease until December 2029 (subject to tenant's option to determine)
Trading as BUPA Dental Care
5 yearly rent reviews to uncapped RPI
Located in Worcester, a historical Cathedral and University City
VAT-free Dental Surgery Investment
Lot 1
Auction 3rd November 2022
Rent £29,440 per Annum Exclusive
Status Sold
Price £387,500
Sector Medical/Healthcare
Auction Venue Live Streamed Auction
On behalf of a Mutual Society
Property Information
Location
Miles
24 miles north of Cheltenham, 26 miles south-west of Birmingham
Roads
A44, A440, A449, M5 (Junction 7)
Rail
Worcester Foregate Street Railway Station, Worcester Shrub Hill Railway Station
Air
Birmingham International Airport
Situation
Worcester, a Cathedral and University City with a population of approximately 100,000, is located on the River Severn 26 miles south of Birmingham. The city benefits from good rail and road links with access to the A44 and M5 Motorway. The property is situated to the west of Worcester City Centre in a prominent position at the intersection of Bromyard Road (A44) and St Johns. Nearby occupiers include Sainsbury's, William Hill and a number of local retailers.
Tenure
Freehold.
Location
Miles
24 miles north of Cheltenham, 26 miles south-west of Birmingham
Roads
A44, A440, A449, M5 (Junction 7)
Rail
Worcester Foregate Street Railway Station, Worcester Shrub Hill Railway Station
Air
Birmingham International Airport
Situation
Worcester, a Cathedral and University City with a population of approximately 100,000, is located on the River Severn 26 miles south of Birmingham. The city benefits from good rail and road links with access to the A44 and M5 Motorway. The property is situated to the west of Worcester City Centre in a prominent position at the intersection of Bromyard Road (A44) and St Johns. Nearby occupiers include Sainsbury's, William Hill and a number of local retailers.
Tenure
Freehold.
Description
The property comprises a substantial Grade II Listed Dental Surgery arranged on the ground, first and second floors. The property benefits from on site parking for 7-8 cars accessed via Bromyard Road.
VAT
VAT is not applicable to this lot.
Completion Period
6 week completion.
EPC
Band - D
Description
The property comprises a substantial Grade II Listed Dental Surgery arranged on the ground, first and second floors. The property benefits from on site parking for 7-8 cars accessed via Bromyard Road.
VAT
VAT is not applicable to this lot.
Completion Period
6 week completion.
EPC
Band - D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground First Second
Dentist Dentist/Ancillary Ancillary
103.58 (1) 68.89 47.71
(1,115) (1) (742) (514)
OASIS DENTAL CARE (CENTRAL) LIMTED with a guarantee from OASIS HEALTHCARE LIMITED (t/a Bupa Dental Care) (2)
15 years from 18/12/2014 (3)
£29,439.69
18/12/2024 to RPI (uncapped)
Total
220.18
(2,371)
£29,439.69
(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk) (2) Oasis Dental Care is now part of the Bupa Dental Care group. Bupa Dental Care are a leading provider of NHS and private dental care. Their dentists care for over 3 million patients and have nearly 500 practices across the UK and Ireland. (www.bupa.co.uk) For the year ending 31st December 2021, Oasis Dental Care (Central) Limited reported a turnover of £62,421,000, a pre-tax loss of £1,448,000 and Net Assets of £2,676,000 (Source: Companies House 12/10/2022) (3) The lease provides for a tenant option to determine on 18/12/2024
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.
