Commercial property for sale in Bournemouth

Investment Consideration: Gross Initial Yield: 9.44% Rental Income: £54,300 p.a. VAT is NOT applicable to this property To be sold in Savills Auction on 8th April 2025 Guide price equates to a low capital value of £150 per sq ft Comprises two-storey building arranged as a ground floor retail premises t/a Tesco Express and a 3-bedroom self-contained residential flat above, let on three separate ASTs Commercial premises let until 2030. No breaks. Rent review in February 2025 outstanding. Occupiers nearby including Papa John`s, Estate Agents, Barber`s, Takeaway and more.  Property Description: Comprises two-storey building arranged as a ground floor retail premises t/a Tesco Express and a self-contained 3-bedroom flat at first floor. The property benefits from 4 car parking spaces and provides the following accommodation and dimensions: Ground Floor Retail: 251 sq m (2,702 sq ft) Open plan retail, storage, office, ancillary First Floor Residential Flat: 105 sq m (1,130 sq ft)* 3 bedrooms (1 en-suite), kitchen/dining, communal bathroom, shower and wc *Note: Size is according to EPC register Total GIA: 356 sq m (3,832 sq ft)  Tenancy: The ground floor shop is at present let to Tesco Stores Limited for a term of 15 years from 15th February 2015 at a current rent of £33,300 p.a. and the lease contains full repairing and insuring covenants. Rent review in February 2025 outstanding (open market and capped at 12.50%). Tenant in occupation since 2000. Break option in February 2025 NOT exercised. Room 1 is at present let on AST to an Individual for a term of 6 Months from 1st March 2025 at a current rent of £6,760 p.a. Room 2 is at present let on AST to an Individual for a term of TBC at a current rent of £7,480 p.a. Room 3 is at present let on AST to an Individual for a term of 6 Months from 1st March 2025 at a current rent of £6,760 p.a.  Location: Bournemouth is an important regional, commercial and tourist centre on the South Coast of England, located 32 miles west of Southampton. The town benefits from good communications being located on the A35/A338 which leads to the A31 trunk road to the east of the town, which in turn connects to the M27 south coast motorway. Bournemouth Rail Station provides regular services to Weymouth, Poole, Winchester and London Waterloo. The property is situated within an established retail pitch on the western side of Wimborne Road, in a densely populated area, 2 miles north of Bournemouth town centre. Occupiers nearby including Papa Johns, Estate Agents, Barber`s, Takeaway and more.

Commercial property for sale in Bournemouth, England

Mixed use for sale

Description

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