About this property
*** MIXED, COMMERCIAL AND RESIDENTIAL FREEHOLD INVESTMENT OPPORTUNITY ***
Churchfield are proud to offer to the market this mixed commercial and residential freehold investment opportunity comprising; 2 x commercial units and a 2 bedroom first floor flat.
(364)The flat measures approximately 863.48 Sq.ft (80.22 Mt.Sq) and is currently rented for £725 pcm (£8,700 p/a) using an AST until 22/06/2020, the flat accommodation comprises; private entrance, kitchen, 2 x double bedrooms, a lounge/kitchen/ diner and a landing area that can be used as an office.
(366) Commercial Unit 1 - The rumbling Tum café, measures approximately 495.98 Sq.Ft (46.35 Mt.Sq), currently returning £7,800 p/a respectively and has a 21 year full repairing lease from 5th march 2005, terminating 2026.
(366a) Commercial Unit 2 - Fiveways Chinese Takeaway, measures approximately 294.4 Sq.Ft (27.35 Mt.Sq), currently returning £7,000 p/a respectively and is on its second lease, first commenced 1994 November, terminated 2006 and renewed for further 15 years, due to terminate November 2021 with a full repairing lease.
Total income of £23,500 p/a produces a gross return of 7.58% (based on a purchase price of £310,000).
The freehold and the 3 x units can be purchased with full vacant possession should the purchaser prefer this option.
The property is situated in the popular residential area of Charminster which has a selection of local shops, restaurants, bars, pubs, cafes, parks, schools and regularly serviced public transport links to Bournemouth Town Centre and the surrounding areas, making it an ideal trading location.
For further information or to arrange a viewing please contact Robert Smith.
Development or Investment site (s), bought through Churchfield the purchaser is required to retain us at the rate of 1.8% (minimum fee of £2,400) including Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell the finished units at 1.8% including vat or re-let at 9.6% including vat (fully managed) the acquired property or the developed properties on a sole agency basis within three years of completion. If Churchfield are not instructed and the acquisition is sold or Let by the purchaser/s within this period, an additional fee of 1.8% including vat (minimum fee £2,400 including vat) of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed. Once the three-year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest.
Agents Note: 1. We have not been able to test any equipment/appliances and recommend that any prospective purchasers arrange for a qualified person to check them before entering into any commitment. 2. These particulars are issued on a strictly Private & Confidential basis and on condition that the information given is for private use of the recipient and any professional adviser consulted by the recipient and, further, that any information contained within these Particulars is not divulged to third parties. To comply with the Property Misdescriptions Act of 1991 these Particulars are intended only as a guide and must not be relied upon as a statement of fact. 3. In compliance with the Property Misdescriptions Act 1991 these particulars are prepared for the guidance only of prospective purchasers, they are intended to give a fair overall description of the property or premises concerned but are not intended to constitute part of an offer or a contract. 4. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact. 5. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise or that any services or facilities are in good working order. 6. Any photographs appearing in the literature may not show all the property and show only certain aspects of the property at the time when the photographs were originally taken. Certain aspects of the property may have changed since the photographs were taken, it should not be assumed that the property remains precisely as depicted in the photographs. Furthermore, no assumption should be made in respect of any parts of the property, which are not shown in the photographs. 7. Any measurements, areas or distances referred to herein are approximate only. If the property is undergoing conversion/refurbishment some changes to size and specification may change. Potential purchasers should satisfy themselves as to the correct dimensions before entering any agreement. 8. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of a part of the property, this is not intended to be a statement that any necessary planning, building regulation or other consents have been obtained. Any intending purchaser must verify these matters. 9. Any statements regarding Leasehold Interests have been prepared with due diligence but we will not necessarily have had sight of original legal documentation. It will be the responsibility of the intended lessee or purchaser to confirm that these details are correct with the vendors or landlord's legal representatives. 10. Descriptions of the property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of a statement of fact. 11. If renting a commercial property, you should be aware that the Code of Practice on Commercial Leases in England and Wales strongly recommends that you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The code is available via the website: http://www.leasingbusinesspremises.co.uk/
122 Charminster Road Bournemouth Dorset BH8 8UT