Comprises Pet Store and Veterinary Practice with Car Parking
Two leases to well recognised tenants expiring in 2029
Approximate Floor Area of 392.60 sq m (4,224 sq ft)
Prominent location on busy arterial road (A35)
Frontages onto Darby's Lane and Wimborne Road (A35)
Busy location on route between Poole and Bournemouth
Active Management Opportunities with outstanding rent reviews
Lot 3
Auction 13th July 2023
Rent £45,000 per Annum Exclusive
Status Sold
Price £625,000
Sector Retail Warehouse
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4 miles west of Bournemouth,
Roads
A3049, A350, A338, A31
Rail
Poole Railway Station, Parkstone Railway Station
Air
Bournemouth Airport
Situation
Poole is an affluent and attractive coastal town, popular with tourists for its history, natural harbour and Blue Flag beaches. The property is located less than a mile from Poole town centre and occupies a prominent position on Darby's Lane and Wimborne Road (A35), connecting Poole to Bournemouth.
Tenure
Freehold.
Location
Miles
4 miles west of Bournemouth,
Roads
A3049, A350, A338, A31
Rail
Poole Railway Station, Parkstone Railway Station
Air
Bournemouth Airport
Situation
Poole is an affluent and attractive coastal town, popular with tourists for its history, natural harbour and Blue Flag beaches. The property is located less than a mile from Poole town centre and occupies a prominent position on Darby's Lane and Wimborne Road (A35), connecting Poole to Bournemouth.
Tenure
Freehold.
Description
The property is a substantial detached building comprising 2 retail units. The first trades as a pet store arranged over ground floor and mezzanine, the second unit trades as a veterinary practice on the ground floor only. The property benefits from onsite car parking with prominent frontages onto Darby's Lane and Wimborne Road (A35), the main arterial route between Poole and Bournemouth.
VAT
VAT is 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
The property is a substantial detached building comprising 2 retail units. The first trades as a pet store arranged over ground floor and mezzanine, the second unit trades as a veterinary practice on the ground floor only. The property benefits from onsite car parking with prominent frontages onto Darby's Lane and Wimborne Road (A35), the main arterial route between Poole and Bournemouth.
VAT
VAT is 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 sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
5 Darbys Lane
Ground Mezzanine
Retail Ancillary
206.63 81.84
(2,224) (880)
PETS CORNER (UK) LIMITED t/a Pets Corner (1) (3)
15 years from 07/04/2014
£32,500
30/04/2019 and 5 yearly (4)
5A Darbys Lane
Ground
Veterinary Practice
104.13
(1,120)
THE PET PRACTICE GROUP LIMITED on assignment to The Pet Practice Limited t/a The Pets Practice (2) (3)
15 years from 17/03/2014
£12,500
30/04/2019 and 5 yearly (5)
Total Approximate Floor Area
392.60
(4,224) (6)
£45,000
(1) Pets Corner is a retail store chain specialising in the sale of ethical pet care products and provisions founded in 1968 (www.petscorner.co.uk). For the year ending 30/09/2021 Pets Corner (UK) Ltd reported a Turnover of £74,883,259, a Pre-Tax Profit of £12,342,252 and a Net Worth of £8,994,956 (NorthRow 15/06/2023). Pets Corner cuurently trade from over 150 stroes throughout the UK. (2) The Pet Practice Veterinary Surgeries is an independent veterinary group founded in 2009 (www.petpractice.co.uk). According to their website, The Pet Practice currently operates from ten locations including Marlborough. Christchurch, Salisbury and Amersham. (3) Pets Corner and The Pet Practice are both owned by Pet Family Limited (www.petfamily.co.uk). (4) The 07/04/2019 rent review remains outstanding. (5) The 17/03/2019 rent review remains outstanding. (6) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
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.
