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Southbourne – Freehold Vacant Retail & Residential Ground Rent Investment

For sale: £600,000.00|2,798 Sq Ft|Residential, Retail, Office, Offices, General Retail, Retail - High Street

Property details

FOR SALE£600,000.00
SIZE2,798 Sq Ft
ADDRESS53-55 Southbourne Grove, Bournemouth, Dorset, BH6 3QU
TYPEResidential, Retail, Office, Offices, General Retail, Retail - High Street
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON7th October 2021

Description

Investment Consideration:
Vacant possession
ERV: £30,000 GIY: 5.00%
VAT is NOT applicable to this property
Prominent corner building comprising retail/office premises and 2 residential flats (sold-off), arranged over ground, first, second floor and basement
Total area size of 260 sq m (2,798 sq ft)
Property benefits from 2 parking spaces at rear
Nearby occupiers include Sainsbury’s (opposite), NatWest, Costa Coffee, Hays Travel, Tesco Express and Boots amongst others.

Property Description:
The property comprises prominent corner building arranged as retail/office premises over ground, partially first and second floors with large storage at basement level and benefits from 2 car parking spaces at rear. The 2 residential flats (sold-off) are arranged over partially first and second floors.

The property provides the following accommodation and dimensions:
Ground Floor: 145.50 sq m (1,566 sq ft)
Retail Area, Rear Offices, Storage
First Floor: 38.55 sq m (415 sq ft)
Office, Storage, 2 WCs
Second Floor: 39.20 sq m (422 sq ft)
Office, Storage
Basement: 36.75 sq m (395 sq ft)
Storage, (former bank vaults)

Total NIA: 260.00 sq m (2,798 sq ft)

Tenancy:
The retail premises are at present vacant. ERV: £30,000 p.a. The residential flats have been sold on long leasehold for a term of 125 Years from 2004 until 2129 at a ground rent of peppercorn.

Location:
The property is situated on the south side of Southbourne Grove in the centre of Southbourne, an affluent residential and shopping suburb approximately 3 miles east of Bournemouth. Bournemouth lies on the South Coast approximately 25 miles south-west of Southampton and 36 miles south-east of Yeovil. The A38 links with the A31 to the north of the town whilst the A35 provides access to Poole and Dorchester to the west. Pokesdown Rail Station is located some 900m from the property and provides regular services to London Waterloo (1 hr 54 mins). Occupiers close by include Sainsbury’s (opposite), NatWest, Costa Coffee, Hays Travel, Tesco Express and Boots amongst others.

Location

marker
Location: 53-55 Southbourne Grove, Bournemouth, Dorset, BH6 3QU

Pokesdown (0.6 miles)

Christchurch (1.6 miles)

Bournemouth (2.2 miles)

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