Retail Investment Opportunity in Bournemouth

The Orange Rooms

24-26 Holdenhurst Road Bournemouth Dorset BH8 8AD

Investment Property For Sale: £795,000
Total Floor Area: 349 sq.m/3,756 sq.ft
Net Investment Income: £55,000 per annum
Net Investment Yield: 6.53%




Last updated: 13 May 2016 Ref: W009713FH

Property Description

A substantial property comprising a bar / nightclub arranged over basement, ground and first floors together with two flats (not inspected) which we understand the tenant sub-lets by way of Assured Shorthold Tenancies. The bar / nightclub premises were extensively refurbished in 2013 when they were let to Orange Room (Bournemouth) Limited, trading as Orange Rooms (www.orangerooms.co.uk), a sister operation to the renowned Orange Rooms Bar and Nightclub in Southampton established in 2001. EPC rating D82.

Measurements

  • Net Internal Floor Area
The Orange Rooms 24-26 Holdenhurst Road Bournemouth - Orange Rooms Bournemouth Limited
Measurementimperialmetric
Basement1,367 sq.ft127 sq.m
Ground Floor1,292 sq.ft120 sq.m
First Floor1,098 sq.ft102 sq.m
Total Floor Area3,757 sq.ft349 sq.m


Agent's Disclaimer

These particulars are believed to be correct, but their accuracy is not guaranteed and they do not constitute an offer or contract. Strictly subject to contract, all measurements approximate. Agents Note: At no time have we undertaken a structural survey and services have not been tested. Interested parties should satisfy themselves as necessary, as to the structural integrity of the premises and condition/working order of services, plant or equipment.


Sale Terms

Offers are sought in excess of £795,000 subject to contract and exclusive of VAT. A purchase at this price would reflect a net initial yield of 6.53% after allowing for usual purchaser’s costs of 5.8%, and a capital value of £212 per sq ft.


Tenant, lease and rent summary

24-26 Holdenhurst Road Bournemouth BH8 8AD
Retail UnitTenantRental IncomeLease Dates
The Orange Rooms Orange Rooms Bournemouth Limited £55,000 13.05.2013 -start
13.05.2038 -expiry
No -break
Total Rent £55,000


Covenant Information:

Orange Rooms Bournemouth Limited

The premises are let to Orange Rooms (Bournemouth) Limited (co.reg.no.8190580) under a full repairing and insuring lease (subject to a photographic schedule of condition) for a term of 25 years commencing 13 May 2013 at a rent of £55,000 per annum, exclusive subject to upwards only rent reviews every 5 years. In lieu of the tenant’s extensive refurbishment and fitting out costs, a concessionary rent of £27,500 per annum, exclusive is payable during the period 1 September 2013 to 31 August 2015, although the vendor will make up the balance to reflect an annual rent of £55,000 per annum, exclusive in relation to the proposed sale. The landlords hold a rent deposit of £13,750 being equivalent to one quarter’s rent. We understand that Orange Rooms (Bournemouth) Limited sub-lets the two flats by way of Assured Shorthold Tenancies although we have not seen any related paperwork.

Agent's Disclaimer

These particulars are believed to be correct, but their accuracy is not guaranteed and they do not constitute an offer or contract. Strictly subject to contract, all measurements approximate. Agents Note: At no time have we undertaken a structural survey and services have not been tested. Interested parties should satisfy themselves as necessary, as to the structural integrity of the premises and condition/working order of services, plant or equipment.


Plans/drawings for this property:


Property Location

The premises are located within central Bournemouth's Lansdowne area. This part of town plays host to a large student population with Bournemouth University and the Bournemouth and Poole College both having teaching facilities closeby. The town also has a significant language school trade with the many foreign students adding to the town's cosmopolitan feel. This immediate area enjoys a strong night time economy with numerous bars, restaurants, hot food take aways and night clubs in evidence. Also within the immediate vicinity are branches of Lloyds TSB, Coral Bookmakers, Ladbrokes, Subway, Lloyds Pharmacy, Tesco Express, KFC, Domino's Pizza, Wetherspoons and ASK together with numerous hotels at the nearby East Cliff.

Map



WillisCommercial
Agents Contact Details

Name: Patrick Willis
Company: Willis Commercial
Address: Minster Chambers 43 High Street Wimborne Dorset BH21 1HR
Email:
Email the agent
Direct Dial: (01202) 887555
Mobile: (01202) 887555





Download pdf brochure Brochure for:  24-26 Holdenhurst Road  Bournemouth Dorset  BH8 8AD. Investment Property For Sale: £795,000. Total Floor Area: 349 sq.m/3,756 sq.ft. Net Investment Income: £55,000

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