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    Key features

    •  To be Offered on Tuesday 10 February
    • A freehold mixed use investment with 6 car parking spaces
    • Majority let to Tesco Stores LTD by way of an assignment; let at £33,300 p.a.
    • 15 year lease from February 2015
    • February 2025 rent review not implemented (open market review capped at 12.5%) projected ERV £37,462 p.a. (subject to negotiation)
    • Tesco has been in occupation since 2000 and a break option in Feb 2025 was not exercised
    • Includes a three bedroom flat/HMO above (of which two are vacant)
    • Future development potential to add more dwellings (subject to the requisite consents)
    • VAT-Free investment
    • Investment let at £54,060 p.a. (8.65% GIY on Guide Price)

    Description

    A two storey property comprising of ground floor convenance store TA as Tesco Express. The first floor is arranged as a 3 bedroom flat/HMO, of which one is vacant.

    The property is located on a busy high street with surrounding side streets predominantly residential.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please note the approximate areas have been provided by the VOA/Vendor/EPC and the property has not been internally inspected by Savills. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. 


    Ground floor - commercial unit an approx. 251.02 sq m (2,702 sq ft)

    First floor - approx. 104.98 sq m (1,130 sq ft)


    Total - 356 sq m (3,832 sq ft)

    Tenancy

    Please see tenancy and accommodation schedule below


    704 Wimborne Road

    Ground floor - Commercial unit

    • Let to Tesco Stores Limited (TA as Tesco Express)
    • Let on a 15 year lease from February 2015 (expiring 2030)
    • Outstanding rent review February 2025 (Open market and capped at 12.5%)
    • It is believed that the February 2020 rent review has also has not been implemented however this can not be verified and any incoming purchaser must do there own due diligence
    • Let at £33,300 p.a.


    First floor - Flats

    • Two out of three of the HMO flats are let on AST's at a total of £21,060


    Total - £54,060 pa

    Rent

    £54,060 p.a.

    Notes

    Addendum: Please note the last letting room is now occupied so the total rent from the property is £54,060 pa and not as stated in the tenancy schedule.



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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Accommodation / Tenancy Schedule

      Local information

      The property is located is located on the west side of Wimborne Road, Between the junctions of Victoria Road Park and Jameson Road.

      Bournemouth Station is located an approx. 1.8 miles from the property

      Transport

      Bournemouth Station - National Rail services

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums