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Summary Prominent town centre retailing pitch
Let to Sainsbury’s
Highly Secure Income – Pre-Tax Profits £409m
£1,050,000, subject to contract
7.63% net initial yield
Location Poole is situated on the South Coast of England within the county of Dorset. The town is located approximately 177 km (110 miles) south-west of London, 59 km (37 miles) south-west of Southampton and 9 km (6 miles) west of Bournemouth. Sandbanks, which has some of the highest land values in the world, is approximately 8 km (5 miles) to the south-east.
The town benefits from good road communications and is served by the A350 and the A31 which connects with the M27 Motorway approximately 43 km (27 miles) to the north-east. To the east, the A338 leads to Lymington and the New Forest. The town is connected to the national railway network with a fastest journey time to London Waterloo of approximately 2 hours. Bournemouth Airport is approximately 18 km (11 miles) to the north-east.
Poole is a hugely successful tourism destination, known for its large natural harbour, Poole Harbour, which is the second largest in the world behind Sydney. Poole’s natural coastal setting provides three miles of award winning blue flag beaches with some of the best water sport facilities to be found on the south coast.
Situation Poole town centre stretches from the water’s edge at Poole Quay up to the Dolphin Shopping Centre. The subject property occupies a prominent corner position in the town centre, on the south side of High Street at the junction with Old Orchard. Surrounding occupiers include Pizza Express, Lush, Slug & Lettuce, Ladbrokes, along with numerous independent and boutique cafes, restaurants and shops.
Pool Quay and Poole Harbour are immediately to the south of the subject property, making the area extremely popular with visitors to Poole. The Dolphin Shopping Centre is less than 0.8 km (0.5 miles) to the north. Totalling approximately 40,000 sq m (430,000 sq ft) this is Dorset’s largest indoor shopping centre with over 140 stores and 1,400 parking spaces. Around 11 million shoppers visit the centres a year, attracted by stores including Marks & Spencer, Primark, Next, River Island, Boots and H&M.
The Strand Street multi-storey car park is immediately to the rear of the subject property and is open 24 hours a day providing 550 spaces.
Description The property comprises a highly prominent ground floor corner retail unit with significant frontage to High Street and Old Orchard.
Internally, the unit provides a modern convenience store which has been fitted out to a high standard in the tenant’s corporate style.
The upper parts comprise 115 luxury apartments which do not form part of the sale.
Accommodation The property has been measured by BKR Floor Plans and provides the following Gross Internal Areas;
Ground Floor 411.73 sq m 4,432 sq ft Floor plans are available to download and the measured survey report is available for assignment to a purchaser.
Tenure Long leasehold for a term of 125 years from 15th September 2009, expiring 31st December 2133 (115.5 years unexpired) at a peppercorn rent.
Tenancy The property is entirely let to Sainsbury’s Supermarkets Limited on a full repairing and insuring lease for a term of 15 years from 7th October 2008, expiring 6th October 2023.
The current passing rent is £84,747 per annum which was agreed at the 7th October 2018 rent review.
Covenant Sainsbury’s Supermarkets Limited (Co. No. 03261722) has reported the following figures:
10th March 2018 10th March 2017 Revenue £28,456 million £26,224 million Pre-Tax Profits £409 million £503 million Total Equity £7,411 million £6,872 million Sainsbury’s is Britain’s third largest supermarket group with approximately 330,000 employees and 2,800 stores. For further information please visit www.sainsburys.co.uk.
Vat The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
Proposal Our client is seeking offers of £1,050,000 (One Million and Fifty Thousand Pounds), subject to contract. This reflects a net initial yield of 7.63% assuming purchasers’ costs of 5.80%.
Investment Considerations An opportunity to acquire a modern convenience store investment in a prominent town centre location;
The investment is let to the AAA covenant of Sainsbury’s Supermarkets Limited;
Approximately 4.5 years unexpired lease term;
Attractive lot size to an investor;
A purchase at the asking price reflects an attractive net initial yield.
Sainsbury’s Foodstore Investment
Type: Land, Retail, Commercial Land
Orchard Plaza, 39 High Street, BH15 1EGGBPooleDorsetBH15 1EG39, High Street
Serviced land is being offered for sale for employment development. The property presents an excellent opportunity to create a bespoke headquarter premises in the heart of an exciting engineering hub.
Land is offered for sale on a long leasehold basis (999 years). Buyers will be required to join in with existing estate management arrangements.
Dorset Innovation Park is an advanced engineering cluster of excellence for the South West with Enterprise Zone benefits. The site benefits from a Local Development Order helping to streamline the planning process and has the potential for business rates worth up to £275,000.
Dorset Innovation Park, Dorchester, DT2 8ZB
Type: Land, General Industrial, Industrial Park, Light Industrial, Business park, Office, Research & Development, Commercial Land, Industrial, Offices, Other Property Types & Opportunities
Dorset Innovation Park, DT2 8ZBGBDorchesterDorsetDT2 8ZBDorset Innovation Park
The site extends to an area of approx. 3.59 acres (1.45ha) gross, although after allowing for the spine service road provides an approx. net developable area of 3.28 acres (1.32ha). The site is located immediately behind the proposed residential development being undertaken by Linden Homes and abuts Endeavour Park located on Crow Arch Lane. Adjoining land of 1.83 acres (0.74ha) with care home consent is also available. ( Agency Pilot Software Ref: 21344 )
Employment Land Site, Land Off Crow Lane, Ringwood, BH24 3DZ
Type: Land, Commercial Land
Employment Land Site, Land Off Crow Lane, Ringwood, BH24 3DZGBNew Forest, RingwoodHampshireBH24 3DZCrow Lane
An area of approx. 1.83 acres (0.74ha) marked as area A on the architects plan located to the rear of the proposed 113 residential unit scheme currently under construction by Linden Homes South. An adjoining B1 employment site is also available extending to approx. 3.59 acres if required. ( Agency Pilot Software Ref: 21343 )
Care Home Site, Land Off Crow Lane, Ringwood, BH24 3DZ
Type: Land, Commercial Land
Care Home Site, Land Off Crow Lane, Ringwood, BH24 3DZGBNew Forest, RingwoodHampshireBH24 3DZCrow Lane
Circa. 2 acre development site in highly popular South Coast location with Residential Development potential subject to the necessary planning consents. Outstanding planning consent for a Care Home development comprising 70 care units & 32 ‘extra care’ units is currently pending. Colliers International are delighted to bring to the market 26 Alder Road, an exciting residential development opportunity, equidistant between the popular coastal towns of Poole and Bournemouth, approximately 0.2 miles North of Branksome train station. The site sits equidistant between Bournemouth and Poole in the affluent area of Branksome. Located nearby to convenient retail and leisure amenities, the site is partially surrounded by residential (C3) uses immediately to the North and the West. A scheme for a proposed residential development (C3 Use Class) has been drawn up by the vendor’s architects and is available on request. The property does not fall within any of the Poole District Council 2009 Local Plan employment designations and informal discussions with the local authority have seen this proposal encouraged.The property currently has a pending planning application for a Care Home development, a full planning application under Application Reference: APP/16/00771/F has been submitted for a 70 Bed Care home and 32 Extra Care Apartments (C2 Use Class) totalling over 70,000 sq ft at the site – existing currently as a 2-acre industrial property (B2/B8 Use Class). The Property’s location compliments this proposed use,
26 Redlands, Branksome, Poole, BH12 1DN
Type: General Industrial, Land, Light Industrial, Residential, Distribution Warehouse, Industrial, Commercial Land
Redlands, Branksome, Poole, BH12 1DNGBPoole, PooleDorsetBH12 1DNRedlands
Under OfferFor rent: £65,000.00 Per AnnumFor sale: £650,000.00
The Former Church of St Mary's comprises a detached single-storey purpose built church constructed in the early twentieth century of traditional brick with a tiled roof. Internally the premises comprise a 3 aisle former Anglican church fitted out with office spaces, kitchen and WC facilities. The building extends mainly to the site boundary although there is a limited footpath between St Mary's Street and Curzon Road. Access to the property can be at the front or alternatively at the rear on Curzon Road and there is unrestricted street parking in the surrounding residential area.
Bullets Points 1
Ground Floor 6,426 sq ft 596.81 sq m First floor mezzanine above offices 868 sq ft 80.64 sq m First floor above organ 305 sq ft 28.34 sq m Total 7,599 sq ft 705.97 sq m
Bullets Points 5
Interested parties are advised to make their own enquiries of Bournemouth Borough Council. The property is Grade II Listed. The most recent use is understood to have been as a Community centre and premises under D1 of the Town and Country Planning (Use Classes) Order 1987 (as amended).
Bullets Points 7
Listed building - not required
Bullets Points 3
LEASEHOLD Available by way of a new full repairing and insuring lease for £65,000 per annum exclusive of rates, VAT (if applicable) and all other outgoings for a term to be agreed. A lease term for a maximum of 21 years will be considered for other church bodies. FREEHOLD Offers sought in region of £650,000 subject to contract for the freehold interest with vacant possession.
Bullets Points 2
Rateable Value (April 2017) £12,500 Source - voa.gov.uk The 2017/2018 standard multiplier is 0.479 (47.9p payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. ( Agency Pilot Software Ref: 5366 )
Former Church Of St Mary's, St. Marys Road, Bournemouth, BH1 4QP
Type: Land, Other, Commercial Land, Other Property Types & Opportunities
Former Church Of St Mary's, St. Marys Road, Bournemouth, BH1 4QPGBBournemouth, BournemouthHampshireBH1 4QPSt Marys Road
The property comprises of a four storey mid terrace building, the lower ground floor being a semi basement with level street access onto Old Christchurch Lane at the rear.
The ground floor comprises open plan, regular shaped retail space, with ancillary office/staffing area to the rear. The lower ground floor is accessed via an internal staircase and provides a staff room, storage, training rooms and WCs.
The first and second floors are accessed via a self-contained access from Old Christchurch Road. Both floors comprise cellular and partitioned former office space.
Externally, at the rear of the building there is a small roller shutter garage and concrete hardstanding area for car parking.
Offers are invited in the region of £875,000 for the premises on a freehold basis with vacant possession.
The first and second floors have planning for two residential units.
Further information can be found on the Local Authority Planning website (Application Number 7-2017-1042-T). ( Agency Pilot Software Ref: 2041078 )
118-120 Old Christchurch Road, Bournemouth, BH1 1NA
Type: Land, Mixed Use, Retail - High Street, Land, Commercial Land, Other Property Types & Opportunities, Retail
118-120 Old Christchurch Road, Bournemouth, BH1 1NAGBBournemouth, BournemouthHampshireBH1 1NA118-120, Old Christchurch Road
EXPRESSIONS OF INTEREST SOUGHT IN RELATION TO THE FREEHOLD INTEREST
The property is situated on the western fringe of Swanage town centre with an access leading from the High Street. The retail and leisure facilities in Swanage town centre are within easy walking distance and the seafront is approximately 500 yards to the east.
The Property immediately adjoins the Purbeck House Hotel and has the benefit of a pedestrian and vehicular access via Manor Road. The surrounding properties are predominately in residential use and comprise a mixture of generally low density housing.
The site which extends to approximately 0.54 hectares (1.34 acres) slopes downwards from in a northerly direction from Manor Road towards the High Street. The top section of the site enjoys stunning views over Swanage Bay.
The site is arranged over 5 distinct levels with the lower level incorporating the original school buildings which extend in total to approximately 448.4 sq m (4,826 sq ft). These buildings are constructed of stone elevations under part flat felt covered and part pitched tiled covered roofs. The buildings comprise a mixture of classrooms, hall, library and administrative facilities together with toilet accommodation.
Until recently the site was occupied as the St Marys R.C. First School and has recently been vacated following the re-location of the school to another site in the Swanage area. The site is now available with vacant possession.
GUIDE PRICE Offers are sought in excess of £1,000,000.
PLANNING Following receipt of Pre-Application Advice from Purbeck District Council it would appear that they would support a residential redevelopment of the site in principle.
Any residential redevelopment of the site will be liable for the Community Infrastructure Levy (CIL).
TENURE The site offered for sale on a freehold basis with vacant possession on completion. An Ordnance Survey extract is attached upon which the extent of the site is identified outlined in red.
With reference to the attached plan there is a Right of Way at all times and for all purposes over the area shaded yellow between Point A which is at the eastern most end of the adopted section of Manor Road and into the property at Point C where there is a gate into the former school’s car park. However there is a physical restriction on both the width and height of the access at Point B where the driveway passes beneath an overhead Listed storage building.
There is a Right of Access and Egress over the area shaded grey on the attached plan for service and emergency vehicles as well as vehicles associated with maintenance and construction on the former school site.
There is also a Right of Access for vehicles associated with maintenance, delivery, emergency vehicles and construction over the area shaded blue on the attached plan and a Right of Egress for the above vehicles as well as vehicles exceeding 8 ft 3” in height.
ENERGY PERFORMANCE An Energy Performance Certificate has been commissioned in relation to the existing school buildings.
POTENTIAL RESIDENTIAL DEVELOPMENT SITE - The Former St Marys R.C. First School, Manor Road, Swanage, Dorset, BH19 2BH
Type: Leisure, Residential, Land, Research & Development, Hotel, Retail, Commercial Land, Other Property Types & Opportunities
Former St Marys R.C. First School, Manor Road, Swanage, BH19 2BHGBSwanageDorsetBH19 2BHManor Road