Available
Bournemouth – Retail Shop & Ground Rent
1076/1076A Christchurch Road, Bournemouth BH7 6DSFreehold Vacant Retail & Residential Ground Rent Investment
Price
£180,000
Rent P.A.
£75
Yield
ERV: £15,075
Tenure
Freehold
Area
705 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- ERV: £15,075 p.a. GIY: 8.37%
- Comprises ground floor retail shop (Class E) and residential flat at first/second floor (sold-off)
- Residential ground rent doubles every 33 years. Valuable leasehold reversion (c.75 years unexpired)
- Situated on the north side of Christchurch Road, close to its junction with Waltham Road.
- Occupiers nearby include Sainsbury`s Local, Halfords Autocentre, Takeaway`s, Nail Salon and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises ground floor retail shop (Class E) and self-contained residential flat at first/second floor which has been sold-off on long leasehold. The property provides the following accommodation and dimensions:
Ground Floor: 65.5 sq m (705 sq ft)
Open plan retail, storage, kitchen, wc
First/Second Floor: Residential flat (sold-off)
Ground Floor: 65.5 sq m (705 sq ft)
Open plan retail, storage, kitchen, wc
First/Second Floor: Residential flat (sold-off)
Tenancy Description
The retail shop is at present vacant. ERV: £15,000 p.a.
The residential flat has been sold-off on long leasehold for a term of 99 Years from 24th June 2002 at a ground rent of £75 p.a. Fixed ground rent increase to £150 p.a. on 24.06.2035 and £300 p.a. on 24.06.68 until the remainder of the term. Reversion 2101 (c. 75 years unexpired).
The residential flat has been sold-off on long leasehold for a term of 99 Years from 24th June 2002 at a ground rent of £75 p.a. Fixed ground rent increase to £150 p.a. on 24.06.2035 and £300 p.a. on 24.06.68 until the remainder of the term. Reversion 2101 (c. 75 years unexpired).
Tenancies & Accommodation
Location Description
Bournemouth is an important regional, commercial and tourist centre on the South Coast located 32 miles west of Southampton. The town benefits from good communications being located on the A35/A338 which leads to the A31 trunk road to the east of the town, which in turn connects to the M27 south coast motorway. Pokesdown Railway Station is just a short walk from the property. Bournemouth Station is the next stop and offers direct services to London (approximately 2 hours), as well as Birmingham and Manchester. The property is situated on the north side of Christchurch Road, close to its junction with Waltham Road. Occupiers nearby include Sainsbury`s Local, Halfords Autocentre, Takeaway`s, Nail Salon and many more.
