Available
Bournemouth – Prezzo Restaurant
58-59 Westover Road, Bournemouth, Dorset BH1 2BZVirtual Freehold Restaurant Investment
Price
£975,000
Rent P.A.
£75,000
Yield
7.69%
Tenure
Leasehold
Lease Term
25 Years
Years Left on Lease
13y 4m
Area
2,215 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Let until December 2039. No breaks. Rent reviews in 2029 and 2034.
- Comprises upper ground floor restaurant premises t/a Prezzo
- Benefits from large glass frontage and external terrace with sea views
- Prime leisure location between the town centre and the seafront less than 100m from three major council car parks providing a total of over 450 parking spaces
- Nearby occupiers include Nando's, Pizza Express, Five Guys, Starbucks and more.
Key Features
Tenure
Leasehold
VAT
VAT is Applicable
Property Description
Comprises an upper ground floor restaurant that benefits from an outdoor seating area and a lift, providing the following accommodation and dimensions:
Upper Ground Floor: 205.76 sq m (2,215 sq ft)
Open plan restaurant, bar, kitchen, staff rooms, storage, wc
Upper Ground Floor: 205.76 sq m (2,215 sq ft)
Open plan restaurant, bar, kitchen, staff rooms, storage, wc
Tenancy Description
The property is at present let to Prezzo Trading Limited for a term of 25 years from 4th December 2014 at a current rent of £75,000 per annum and the lease contains full repairing and insuring covenants. Rent review on 04.12.29 and 04.12.34 open market upward only. No breaks. Lease within Landlord & Tenant Act 1954.
Tenure:
Virtual freehold. Held on a 999 Year lease from 25th December 2001 at a fixed ground rent of £1 p.a.
Tenure:
Virtual freehold. Held on a 999 Year lease from 25th December 2001 at a fixed ground rent of £1 p.a.
Tenancies & Accommodation
Location Description
The property is situated in a prominent corner location on the northern side of the prestigious Westover Road, just off Bath Road (A3066) which is the main road into Bournemouth town centre. The property lies in a prime leisure location between the town centre and the seafront less than 100 metres from three major council car parks providing a total of over 450 parking spaces. Nearby occupiers include Nando's, PizzaExpress, Five Guys, Starbucks, Wagamama and Turtle Bay.
