FREEHOLD FOR SALE RETAIL INVESTMENT WITH ANCILLARY INCOME FROM GROUND RENTS LOCATED IN A THRIVING SUBURB OF

WARWICK COURT, 22 ROAD LOWER PARKSTONE, POOLE, BH14 0ES SUMMARY

■ Lower Parkstone is a thriving suburb of Poole situated approximately 2 miles north-east of Poole Town Centre. ■ Situated in a prominent trading position on a busy thoroughfare ■ Ground floor retail unit currently let until December 2029 (no break options) producing a rent of £27,200 per annum exclusive - let to a Ltd with guarantors in place ■ 20 flats all sold off on leasehold interests producing the total ground rent of £3,100 per annum ■ Freehold

PROPOSAL

Net income £30,300 per annum

Price £449,950

A purchase at this level would reflect a net initial yield of 6.45% after allowing for purchaser’s costs of ASHLEY CROSS GREEN 4.47%. APPROX. 110M FROM WARWICK COURT LOCATION

Lower Parkstone is a thriving suburb of Poole situated approximately 2 miles north-east of the Town Centre. The area is a popular location for retailers and leisure operators, as it is easily accessible from the surrounding residential areas which include , and .

Ashley Cross Green Approx. 110m from the property PHOTO SHOWS RESDIENTIAL APARTMENTS

ACCESSED THROUGH LOCKABLE GATES

WARWICK COURT, 22 BOURNEMOUTH ROAD LOWER PARKSTONE, POOLE, DORSET BH14 0ES DESCRIPTION Residential apartments: VIEWINGS These are sold off by way of 125 year long leasehold Warwick Court is a substantial mixed use interests from 2004, with the last being sold in Strictly by prior appointment through the joint sole development which comprises a large retail unit 2006. The leases incorporate 25 yearly RPI rent agents, Goadsby or Nettleship Sawyer, through on the ground floor with 20 residential apartments reviews and the total current ground rent is £3,100 whom all negotiations must be conducted. per annum. above and to the rear of the development. The James Edwards ground floor retail unit is prominently located on [email protected] Bournemouth Road and benefits from excellent TENURE 07801 734797 return frontage. There is an open plan sales area, Grant Cormack storage facilities to the rear and a single WC with Freehold. [email protected] 01202 550000 07776 217453 wash hand basin. The retail unit is allocated 4 car- parking spaces which are located in a secure car- PRICE park to the rear. Steve Chiari £449,950 (plus VAT) which reflects a net initial yield [email protected] of 6.45% after allowing for purchaser’s costs of 07808 724 411 ACCOMMODATION 4.47%.

VAT Ground floor retail unit: ANTI MONEY LAUNDERING Approx. net internal area 177 sq m // 1,903 sq ft We have been informed by our client that the premises are currently elected for VAT. Under Anti Money Laundering Regulations, we Residential apartments: are obliged to verify the identity of a proposed purchaser once a sale has been agreed and prior to Block A 5 Apartments EPC RATING instructing solicitors. This is to help combat fraud Block B 9 Apartments and money laundering and the requirements are Retail unit: C - 70 Block C 6 Apartments contained in statute. A letter will be sent to the proposed purchaser once terms have been agreed. LEGAL COSTS TENANCIES Each party is to be responsible for their own legal Ground floor retail unit: costs incurred in the transaction. This is let to White On Ltd by way of a 15 year full repairing and insuring lease from 8 December 2014. These particulars are believed to be correct, but their accuracy is not guaranteed There are upward only rent reviews every 4 years and they do not form an offer or contract. STRICTLY SUBJECT TO CONTRACT, ALL and there are no break options during the term. MEASUREMENTS APPROXIMATE. Agents note: At no time have we undertaken The current passing rent is £27,200 per annum a structural survey and services have not been tested. Interested parties should satisfy themselves as necessary, to the structural integrity of the premises and exclusive. There are 3 personal guarantors. condition/working order of services, plant or equipment.

WARWICK COURT, 22 BOURNEMOUTH ROAD LOWER PARKSTONE, POOLE, DORSET BH14 0ES