High Street Retail Property for sale

Westbourne Arcade, Bournemouth BH4


Fixed price
£16,200
459 ft²

Features

  • New Lease
  • Premium £24950
  • Sought after location
  • Trading since 2016
  • Turnover approximately £70,000 per year

Description

Situation and description

Situated in the popular Westbourne Arcade which is a busy thoroughfare which connects Poole Road to Seamoor Road and consists of many independent retailers.

The unit comprises a double frontage with a central door for access into the main sales area, the unit benefits from good visibility within the Arcade and is operated as a hairdressers.
Accommodation

Sales area: 18'6 x 16'5 (5.6m x 5m)
201.28 sq.ft. (28 sq.m.)
Rear sales area: 14'3 x 11'2 (4.3m x 3.4m)
157.31 sq.ft. (14.62 sq.m.)

Total area: 458.59 sq.ft. (42.62 sq.m.)
EPC rating E


Rateable value - £9000

From 1st April 2017 premises with a rateable value below £12,000 will receive 100% small business rates relief (no rates payable).
Interested parties should enquire of the local Rating Authority as to the implications of the phasing arrangements on the amount of rates actually payable. Parties should also make enquiries concerning the implications of the small business allowance
Price

£24,950 for the goodwill of the business, fixtures and fittings, new lease plus stock at valuation.
The current turnover is averaging £70,000 per annum.
Tenure

We understand that a new lease will be granted with terms to be negotiated at a rental of £16,200 per annum exclusive.

Ellis and Partners can prepare a new tenancy agreement for a term of up to three years at a cost of £350 plus VAT to the incoming tenant, or alternatively a tenancy agreement for a term of up to six years can be prepared in house at a cost of £550 plus VAT to the incoming tenant.
Planning

Long established Class A1 retail use
From September 2020 this property falls within Class E Commercial Businesses and Services, which include A1, A2, A3, B1, Indoor sports and Medical use, crèche/day nursery
Legal fees

The incoming tenant will be responsible for their own legal fees.
Viewing and further details

By arrangement with Ellis and Partners through whom all negotiations are to be conducted.

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Categories

High Street Retail Property
Property reference
CP202100_294