Retail Investment Opportunity in Bournemouth

136 Commercial Road

Bournemouth Bournemouth Dorset BH2 5LU

Investment Property For Sale: £295,000
Total Floor Area: 110 sq.m/1,188 sq.ft
Net Investment Income: £20,250 per annum
Net Investment Yield: 6.7%




Last updated: 08 Jul 2019 Ref: i10048

Property Description

The property comprises a semi-detached three storey building incorporating a retail unit operated as a betting office at ground floor level with residential accommodation above. The upper floors of the property are in residential use. ACCOMMODATION Retail area 105.9 sq m (1,140 sq ft) Kitchen 4.5 sq m ( 48 sq ft) TOTAL 110.4 sq m (1,188 sq ft) These floor areas have been calculated on a gross internal basis. TENANCY DETAILS The ground floor of the property is occupied by Ladbrokes Betting and Gaming Limited under the terms of a ten year full repairing and insuring lease from the 30th September 2013. The lease incorporates an upward only rent review on the 30th September 2018. Current passing rent £20,000 pa. The upper floors of the property are held under the terms of a 125 year full repairing and insuring ground lease from the 24th June 1999. Ground rent £250 pa Total current income £20,250 pa TENANT’S COVENANT Ladbrokes Betting and Gaming Limited is one of the UK’s leading betting and gaming companies with in excess of 2,200 retail units in the United Kingdom. Their annual accounts for the year ending 31st December 2014 show a turnover of £824,322,403 and an operating profit of £50,781,167. ENERGY PERFORMANCE The property has an Energy Performance Asset Rating of G (214).

Measurements

  • Net Internal Floor Area
136 Commercial Road Bournemouth Bournemouth - Ladbrokes Betting and Gaming Ltd
Measurementimperialmetric
Ground Floor1,188 sq.ft110 sq.m
Total Floor Area1,188 sq.ft110.4 sq.m


Agent's Disclaimer

MESSRS COWLING & WEST FOR THEMSELVES AND FOR VENDORS OR LESSORS OF THIS PROPERTY WHOSE AGENTS THEY ARE GIVE NOTICE THAT: THE PARTICULARS ARE SET OUT AS A GENERAL OUTLINE ONLY FOR THE GUIDANCE OF INTENDED PURCHASERS OR LESSEES, AND DO NOT CONSTITUTE, NOR CONSTITUE PART OF, AN OFFER OR CONTRACT; ALL DESCRIPTIONS, DIMENSIONS, REFERENCES TO CONDITION AND NECESSARY PERMISSIONS FOR USE AND OCCUPATION, AND OTHER DETAILS ARE GIVEN WITHOUT RESPONSIBILITY AND ANY INTENDING PURCHASERS OR TENANTS SHOULD NOT RELY ON THEM AS STATEMENTS OR REPRESENTATIONS OF FACT BUT MUST SATISFY THEMSELVES BY INSPECTION OR OTHERWISE AS TO THE CORRECTNESS OF EACH OF THEM; NO PERSON IN THE EMPLOYMENT OF MESSRS COWLING & WEST HAS ANY AUTHORITY TO MAKE OR GIVEN ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.


Sale Terms

Offers are sought in excess of £295,000 subject to contract and exclusive of VAT. A purchase at this price would reflect a net initial yield of 6.7% after allowing for usual purchaser’s costs of 5.8%, and a capital value of £249 per sq ft.


Tenant, lease and rent summary

Bournemouth Bournemouth BH2 5LU
Retail UnitTenantRental IncomeLease Dates
136 Commercial Road Ladbrokes Betting and Gaming Ltd £20,250 No -break
Total Rent £20,250


Covenant Information:

Ladbrokes Betting and Gaming Ltd

The ground floor of the property is occupied by Ladbrokes Betting and Gaming Limited under the terms of a ten year full repairing and insuring lease from the 30th September 2013. The lease incorporates an upward only rent review on the 30th September 2018. Current passing rent £20,000 pa. The upper floors of the property are held under the terms of a 125 year full repairing and insuring ground lease from the 24th June 1999. Ground rent £250 pa Total current income £20,250 pa

Agent's Disclaimer

MESSRS COWLING & WEST FOR THEMSELVES AND FOR VENDORS OR LESSORS OF THIS PROPERTY WHOSE AGENTS THEY ARE GIVE NOTICE THAT: THE PARTICULARS ARE SET OUT AS A GENERAL OUTLINE ONLY FOR THE GUIDANCE OF INTENDED PURCHASERS OR LESSEES, AND DO NOT CONSTITUTE, NOR CONSTITUE PART OF, AN OFFER OR CONTRACT; ALL DESCRIPTIONS, DIMENSIONS, REFERENCES TO CONDITION AND NECESSARY PERMISSIONS FOR USE AND OCCUPATION, AND OTHER DETAILS ARE GIVEN WITHOUT RESPONSIBILITY AND ANY INTENDING PURCHASERS OR TENANTS SHOULD NOT RELY ON THEM AS STATEMENTS OR REPRESENTATIONS OF FACT BUT MUST SATISFY THEMSELVES BY INSPECTION OR OTHERWISE AS TO THE CORRECTNESS OF EACH OF THEM; NO PERSON IN THE EMPLOYMENT OF MESSRS COWLING & WEST HAS ANY AUTHORITY TO MAKE OR GIVEN ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.


There are no plans available to view for this property. Contact the agent for further information

Property Location

The property is situated in a prominent location at the junction of Commercial Road and St Michaels Road on the northern edge of the prime retail area of Bournemouth Town Centre.

Map



CowlingWest
Agents Contact Details

Name: David Cowling
Company: Cowling & West
Address: The White House 170 Magna Road Canford Magna Wimborne Dorset BH21 3AP
Email:
Email the agent
Direct Dial: (01202) 558262
Mobile: (01202) 558262





Download pdf brochure Brochure for:  Bournemouth  Bournemouth Dorset BH2 5LU. Investment Property For Sale: £295,000. Total Floor Area: 110 sq.m/1,188 sq.ft. Net Investment Income: £20,250

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