Shop let to Boots Opticians Professional Services Limited
Recently renewed 5-year lease from May 2024 (subject to options)
Boots in occupation since 2010
Separately-accessed maisonette above let on a long lease
Prominent pedestrianised location
Nearby occupiers include Sainsbury's (opposite), Iceland Supermarket, PureGym, Superdrug, Greggs, Domino's and JD Wetherspoon
VAT-free Investment
Lot 36
Auction 7th November 2024
Rent £18,500 per Annum Exclusive
Status Sold
Price £170,000
Sector High Street Retail, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 miles east of Southampton City Centre, 10 miles south of Winchester
Roads
A27, A3024, A334, M27 (Junction 7)
Rail
Bitterne Railway Station
Air
Southampton Airport
Situation
The property is prominently located on the north side of the pedestrianised Bitterne Road, in the heart of Bitterne Village, 2 miles east of Southampton City Centre. Nearby occupiers include Sainsbury's (opposite), Iceland Supermarket, PureGym, Superdrug, Greggs, Domino's and JD Wetherspoon.
Tenure
Freehold.
Location
Miles
2 miles east of Southampton City Centre, 10 miles south of Winchester
Roads
A27, A3024, A334, M27 (Junction 7)
Rail
Bitterne Railway Station
Air
Southampton Airport
Situation
The property is prominently located on the north side of the pedestrianised Bitterne Road, in the heart of Bitterne Village, 2 miles east of Southampton City Centre. Nearby occupiers include Sainsbury's (opposite), Iceland Supermarket, PureGym, Superdrug, Greggs, Domino's and JD Wetherspoon.
Tenure
Freehold.
Description
The property comprises a ground floor shop and a separately-accessed maisonette arranged on the first and second floors, let on a long lease.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Shop - Band C
Description
The property comprises a ground floor shop and a separately-accessed maisonette arranged on the first and second floors, let on a long lease.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Shop - Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Ground
Retail/Ancillary
68.82
(740)
BOOTS OPTICIANS PROFESSIONAL SERVICES LIMITED (2) (t/a Boots Opticians)
5 years from 01/05/2024 (3)
£18,500
First/Second
Maisonette
66.00
(710)
AN INDIVIDUAL
125 years from 29/09/2013
Peppercorn
Total
134.82
(1,450)
£18,500
(1) Areas provided by VOA and EPC register (www.gov.uk/find-business-rates) (2) For the year ending 31/08/2023, Boots Opticians Professional Services Limited reported a turnover of £382,702,000 and a pre-tax profit of £34,952,000 (www.northrow.com) (3) The lease is subject to a tenant option to determine on 30/04/2026 and 30/04/2028.
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.
