Charles Fox Jewellers 20 Bournemouth Arcade Bournemouth Dorset BH1 2AH

Charles Fox Jewellers
20 Bournemouth Arcade
Bournemouth
Dorset
BH1 2AH

Retail Investment - New 15 year unbroken lease from June 2023

Let to Charles Fox (Jewellers) Limited
New 15 year lease from June 2023 (subject to option)
Charles Fox established in 1876
Exclusive Omega Watches stockist in Dorset
Approximately 1,319 sq ft
Forms part of prestigious Victorian Shopping Arcade with tenants including Maravi & Wellness, Space NK and Waterstones
Other nearby occupiers include Côte, Pandora, Superdry, McDonald's and JD Wetherspoon

Lot
42
Auction
13th July 2023
Rent
£27,500 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Live Streamed Auction

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Retail Investment - New 15 year unbroken lease from June 2023

Let to Charles Fox (Jewellers) Limited
New 15 year lease from June 2023 (subject to option)
Charles Fox established in 1876
Exclusive Omega Watches stockist in Dorset
Approximately 1,319 sq ft
Forms part of prestigious Victorian Shopping Arcade with tenants including Maravi & Wellness, Space NK and Waterstones
Other nearby occupiers include Côte, Pandora, Superdry, McDonald's and JD Wetherspoon

Lot 42
Auction 13th July 2023
Rent £27,500 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 6 miles east of Poole, 30 miles west of Southampton
Roads: A31, A35, A338, M27
Rail: Bournemouth Railway Station
Air: Bournemouth Airport

Situation

The property forms part of Bournemouth Arcade, a prestigious Victorian Shopping Arcade, between Old Christchurch Road and Gervis Place, where retailers include Maravi & Wellness, Space NK, Ernest Jones, Aracde Jewellers, Waterstones as well as various independent boutiques. Other nearby occupiers include Côte, Pandora, Superdry, McDonald's and JD Wetherspoon. The property is located very close to the former House of Fraser Department Store, where a conversion of the existing building into a mixed-use scheme comprising 10 shops, a night club and student accommodation consisting of 129 rooms has been proposed.

Tenure

Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn rent.

Location

Miles: 6 miles east of Poole, 30 miles west of Southampton
Roads: A31, A35, A338, M27
Rail: Bournemouth Railway Station
Air: Bournemouth Airport

Situation

Tenure

Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn rent.

Description

The property comprises a shop arranged on the ground, first and second floors. The lease has recently been signed and the tenant is due to start shopfitting imminently.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band E

Description

The property comprises a shop arranged on the ground, first and second floors. The lease has recently been signed and the tenant is due to start shopfitting imminently.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band E

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.	Rent Review
Ground First Second	Retail/Ancillary Retail/Ancillary Ancillary	43.84 39.98 38.70	(472) (430) (417)	CHARLES FOX (JEWELLERS) LIMITED (2)	15 years from 19/06/2023 (3)	£27,500	19/06/2028
Total		122.52	(1,319)			£27,500

(1) Areas provided by VOA (www.tax.service.gov.uk/business-rates)
(2) Charles Fox has been the leading luxury watch and jewellery retailer on the south coast for many decades, having been established for over 140 years. Originally having three shops in the town, the three were amalgamated to the current location about 100 years ago. Charles Fox has been in partnership with Rolex for over 50 years and retains a Rolex-accredited watchmaker to advise customers on their Rolex watch servicing needs. Charles Fox will use this property as a boutique store to sell and repair Omega watches as they are the official stockist of Omega in Dorset (www.charlesfoxjewellers.com). For the year ending 31st January 2022, Charles Fox (Jewellers) Limited reported total assets of £4,025,117, net assets of £2,633,257 and a net worth of £2,633,257 (www.northrow.com).
(3) The lease is subject to a tenant only option to determine in June 2033. The tenant benefits from a 6 month rent free period until 19/12/2023. The Seller will pay the Buyer the total rent that would have been due from Completion of the sale until 19/12/2023.

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.