Town Centre Retail / Office Investment
Bournemouth is Dorsetâs principal commercial centre and one of the UKâs premier seaside resorts. It has a residential population in excess of 150,000 persons and a prime shopping catchment of 396,000 persons within a 6 mile radius (Focus). The town is a thriving destination with an estimate of 1.5M staying visitors and 3.8M day visitors every year. Bournemouth also benefits from a substantial and growing student population with in excess of 25,000 students attending University. The town has enjoyed substantial inward investment at the present time. This includes two recently opened town centre Hilton Hotel and the BH2 leisure scheme in the centre of town comprising 17 national restaurants and an Odeon cinema. The property is prominently situated on Old Christchurch Road amongst numerous multiple retailers, together with local independent retailers, professional service providers and cafes/restaurants. A 950 space NCP car-park is accessed via the entrance to Richmond Gardens Shopping Centre which is approximately 100m from the subject premises.
Net income £77,500 per annum exclusive
Price Offers are invited in the region of £1M
A purchase at this level reflects a net initial yield of 7.33% assuming typical purchaser's costa of 5.75%.
Substantial Mixed Use Property With Development Potential
The property occupies an excellent and highly visible position fronting Ashley Road, close to the junction with Richmond Road. Ashley Road is the principle shopping area in Parkstone and the second largest local centre outside of Poole Town Centre. Ashley Road is a vibrant retail area with high footfall and large amounts of passing vehicular traffic, being one of the principle routes between Poole and Bournemouth. Nearby occupiers include a large Waitrose Supermarket, Peacocks, Boots, Iceland, Co-Op, Superdrug, Greggs & Pizza Hut Delivery.