Description
For Sale - Tenanted Investment in Strong Location
The subject premises are located in the very heart of the Lansdowne area where most student accommodation blocks are located. There is significant ongoing development of both accommodation and teaching facilities 'on the doorstep' and accordingly the premises are very well located to benefit from the associated opportunities.
The property has recently been fully refurbished and at ground floor level there is a spacious, well decorated bar and restaurant seating area, together with a stylised beach themed lounge space.
Also at ground floor level are male and female WC's.
At basement/lower ground floor level there is a good-sized restaurant and bar, together with a large commercial kitchen plus ancillary areas.
The property benefits from two allocated car parking spaces to the rear together with a beer cellar at ground floor level.
We understand that the premises are licenced for 200 customers at any one time and also have the benefit of a favourable Premises Licence which permits certain 24-hour licenced activities.
Accommodation
Ground Floor
Bar Area: 1,064 Sq. Ft (98.88 Sq. M.)
Rear Lobby: 76 Sq. Ft (7.06 Sq. M.)
Beer Cellar: 128 Sq. Ft. (11.90 Sq.M.)
Basement
Restaurant: 1,500 Sq. Ft (139 Sq. M.)
Commercial Kitchen: 396 Sq. Ft (36.80 Sq. M.)
Total NIA - 3,164 Sq. Ft. (293.64 Sq. M.)
Rating
Rateable Value �XXX
Source www.voa.org.uk
Terms
Offers invited in the region of �XXX subject to contract for the long leasehold interest subject to the subsisting tenancy.
Please note VAT is not payable on the rents.
Tenancy Details
The property is let by way of an effective full repairing and insuring lease to Bournemouth Events Ltd commencing 6th June 2024 expiring 5th June 2034 at a passing rent of �XXX per annum, exclusive payable monthly in advance.
The lease is subject to an upward only rent review and tenant only break clause on 6th June 2029.
The lease is subject to a photographic schedule of condition.
A three-month rental deposit is held by the landlord (�XXX).
Planning
Under the new planning regulations, we believe that the current permitted use of the ground floor to be us class 'E' which includes uses such as retail, professional services, caf�XXX health clinics, indoor recreation/sport and office.
Interested parties are advised to make their own enquiries of the Local Authority for confirmation.
EPC Text
Asset Rating - D93
Anti Money Laundering
Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.