Commercial investment - 28-30 Southbourne Grove, Southbourne, BH6 3RA

Reference: 6387/SGC
Status: Now Sold
Property Type: Investment
Property Term: For Sale
Contract: For Sale
Size: 3,359ft2
Price: £900,000 offers on

LOCATION

Southbourne is a very popular, affluent residential coastal suburb midway between Bournemouth and Christchurch Town Centres.

Southbourne Grove is the principal shopping area serving Southbourne and adjacent suburbs Boscombe East and Tuckton and has enjoyed considerable growth in recent years.

Southbourne Grove has a very good mix of national and successful local businesses including Boots the Chemist, Lloyds Bank, Natwest, Hays Travel, Costa Coffee, Coffee No. 1 and Loungers.  The subject property is situated in probably the best location in Southbourne Grove on the northern side of the road in the very heart of this thriving suburb.

ACCOMMODATION & LEASES

Ground floor
Shop

NIA  - 3359 sq ft
ITZA – 1391 sq ft

Let to Tesco Stores Ltd on a reversionary full repairing and insuring lease for a term of 15 years from 29.9.18 subject to a tenant only break clause at the end of year 10 at a current rent of £46,000 per annum exclusive.  There are provisions for 5 year rent reviews upwards only to open market value

Flats Over

9 flats over all sold off on 99 year ground leases from 25.03.2003 (approx. 82 years unexpired) at ground rents of £150 pa each

TOTAL INCOME - £47,350 per annum exclusive


Price

£900,000 for the freehold

VAT

We understand from the managing agents that there is NO VAT payable on the purchase price.

50.7265063, -1.8163022

Property Misdescription Act and Misrepresentation Act: These particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract. Nettleship Sawyer cannot guarantee the accuracy of any description, dimension, references to condition, necessary permissions for use and occupation and other details contained herein and the prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. No employee of Nettleship Sawyer has any authority to make or give any representations or warranty or enter into any contract whatever in relation to the property. Rents or prices quoted in these particulars may in addition be subject to VAT. Nettleship Sawyer will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars.