Business Summary

SITUATION AND DESCRIPTION

The property occupies a prominent position at the bottom of Pokesdown Hill fronting the busy A35 Christchurch Road. The Iford Roundabout junction is approximately half a mile east whilst the pedestrianised section of Christchurch Road is 1 mile to the West. The property is situated in an established shopping area where the majority of the neighbouring shops are local traders or specialist occupiers.

The property comprises a ground floor convenience store with a self contained sports bar and club on first floor with car park and loading bay to the rear.

ACCOMMODATION

Ground Floor

Width : 67’00” (20.42m)
Depth : 41’06” (12.64m)
Sales Area : 2,749 sq.ft. (255 sq.m.) approx..
Cloakrooms and plant room

First Floor

Width : 76’08” (23.36m)
Depth : 31’00” (9.44m)
Net Floor Area : 2,192 sq.ft. (203 sq.m.) approx
Cloakroom
Lean to : 242 sq.ft. (22.5 sq.m.) approx

Outside yard and parking

RATEABLE VALUE -

Ground floor: £36,750 (previously £18,000)
First floor: £15,000 (previously £13,000)

U.B.R. 2012/2013: Payable; 45.0% (if eligible for small rate relief), otherwise 45.8%

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

TENURE

The entire premises are held by way of a 15 year lease from 2nd September 2011 to Sainsbury’s Supermarkets Limited (Company No. 3261722) who had a turnover in excess of £22,000,000,000 for the year ending March 2012

The commencing rental is £50,000 p.a.

The lease is subject to five yearly rent reviews on 2nd September 2016 and 2021.

Permitted User is Class A1 retail sales for the ground floor or Class B1 office or Class D1 leisure for the first floor

The lease includes a tenant only break clause at the 10th anniversary subject to not less than six months notice being given

The first floor which operates as the Kasbah Club is underlet for a term expiring 18th March 2013 to Mr Gordon Rocket at a rental of £12,150 p.a.

The landlord guarantees a rental income of £10,000 p.a. for the first floor for the first three years of the Sainsbury’s Lease. The landlord receives an additional income of £2,150 p.a. from the tenant whilst the guarantee remains in place.

PRICE

£820,000

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

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