INDUSTRIAL/ MOTOR-TRADE INVESTMENT OPPORTUNITY

FOR SALE

ADDRESS

1a Colville Road Bournemouth Dorset BH5 2AG

SIZE

550 Sq Ft (51 M²)

LOCATION

The property is accessed directly from Colville Road in Bournemouth which sits directly behind the main A35 Christchurch Road, approximately 300 metres from Pokesdown Mainline Train Station. Bournemouth town centre is approximately 3 miles distant.

DESCRIPTION

The property comprises an industrial/motor-trade premises formed of render-finished blockwork elevations beneath a pitched, sheet profile roof.

Accessed by way of roller shutter and pedestrian doors, the unit provides open plan workshop/ production space with office and WC.

Externally the unit benefits from concrete loading area and off-road, allocated parking.

The property offers a rare, freehold investment opportunity being sold with the benefit of a new 10 year, full repairing lease commencing December 2016 at an annual rent of £8,400 per annum exclusive.

The property has been occupied by the current tenant for in excess of 11 years and the lease is taken in a personal name with provision for tenant break and rent review in the 5th year of the term.

The asking price of £100,000 would reflect a net initial yield of approximately 8.2% after assuming purchaser’s costs of approximately 2.4%.

RATES

We understand that the rateable value is £1,550 per annum. The current standard non – domestic multiplier is 49.3p

The Government has doubled Small Business Rate Relief. Eligible occupiers may benefit from having a significantly reduced liability for Uniform Business Rates (up to 100% relief where properties have a rateable value of £6,000 or less) during this period. Applicants must check their eligibility and entitlement to any related benefits with the relevant Local Authority.

Interested parties are advised to obtain confirmation of the rateable value and rates payable from the local authority.

For more information visit:

https://www.gov.uk/introduction-to-business-rates

PRICE

£100,000 for the freehold. We understand that VAT is not payable on this transaction.

PLANNING

We understand that the unit has planning consent for:

Garage/ workshop use.

In accordance with our usual practice all interested parties are encouraged to contact Bournemouth Borough Council, planning department (01202 451 451) with respect to the authorised use of the property and their proposed use.

EPC

Available on request.

LEGAL COSTS

Each party to bear their own in this transaction.

FINANCE ACT 1989

Unless otherwise stated, all prices and rents are exclusive of Value Added Tax. Purchasers or Lessees must satisfy themselves as to the incidence of VAT in respect of any transaction.

IMPORTANT NOTE

At no time has a structural survey been undertaken and appliances have not been tested. Interested parties must satisfy themselves as necessary as to the integrity of the premises and condition therein.

These particulars are believed to be correct, but their accuracy is not guaranteed and they do not constitute an offer or form part of any contract.

ESTATE AGENTS ACT 1979

In accordance with the requirements in the Estate Agents Act 1979 a Director of J M Watts Commercial Properties Limited declares an interest in these premises.