Business Summary

SITUATION AND DESCRIPTION

The premises are located in an established and busy secondary shopping area of Old Milton Road immediately opposite the Bradbeers Department Store. The primary shopping area in New Milton is a short distance walk to Station Road. The neighboring occupiers are predominantly local and specialist retailers although Tesco Express are located close by at the junction with Crossmead Avenue. There is free parking immediately outside the premises.

The premises comprise a single fronted lock up shop with wooden shop front. The accommodation is predominantly clear open plan space with an office, kitchenette and cloakroom located across the back of the shop. There is parking at the rear for 2 vehicles.

ACCOMMODATION

Shop Width 18’06” (5.63m) widening
(front) to 22’06” (6.85m) after
25’00” (7.61m)
Shop Depth 49’10” (15.18m)
Sales Area 1,015 sq.ft. (94.29 sq.m.) approx.
Office 7’07” x 7’10” (2.31m x 2.38m)
Kitchenette 3’06” x 8’00” (1.06m x 2.43m)
Cloakroom

2 parking spaces at the rear

RATEABLE VALUE - £10,500 (previously £9,000)

U.B.R. 2013/2014: Payable; 46.2% (if eligible for small rate relief), otherwise 47.1%

Interested parties should enquire of the local Rating Authority as to the implications of the phasing arrangements on the amount of rates actually payable. Parties should also make enquiries concerning the implications of the small business allowance

PLANNING

Class A1 retail sales

Alternative uses including Class A2 office and Class A3 cafe / restaurant and Class A5 takeaway use would be considered subject to any necessary planning consents being obtained.

TENURE

The premises are held by way of a 125 year long leasehold interest from 24th June 1985 at a fixed rental of £100 per annum. There is approximately 97 years unexpired.

The long leasehold interest can be purchased for £130,000.

Under-letting
A shorter term under-lease is available with terms to be negotiated at a rental of £12,000 p.a.

Alternatively a new tenancy agreement for a term up to three years, prepared by Ellis and Partners is available. The incoming tenant will be expected to pay an administration fee of £250 plus VAT for the preparation of the tenancy agreement.

There will be a restriction within the lease that the premises cannot be used for the sale of carpets or flooring.

LEGAL FEES

The incoming tenant will be responsible for their own legal fees.

VIEWING AND FURTHER DETAILS

By arrangement with Ellis and Partners through whom all negotiations are to be conducted.

Tel: 01202 551821
Website: www.ellis-partners.co.uk

Property Details

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