The Corner House, 1-3 Poole Hill, Bournemouth, BH2 5PW

Description



These Grade 11 listed premises are located within central Bournemouth in an area of mixed commercial uses being prominently
situated at the junction of Poole Hill and West Hill Road.

West Hill Road is a busy thoroughfare linking Poole Hill with the West Cliff and the premises also benefit from close proximity to a large shoppers' car park.

The ground and lower ground floors are let to an established escape rooms operator and the upper floors comprise 4 flats all of which are sold off by way of long leases originally grated for terms of 99 years from 24th June 1995. We understand that two of the long leaseholders have been granted lease extensions of a further 90 years in each case.

We are advised that the combined grounds rents receivable from the four flats is currently £425 per annum. We have not had sight of the relevant documentation.




Accommodation



The ground floor commercial space has an internal width of 40'3" ( 12.27m) maximum and extends to a net internal area of approximately 1,028 sq ft. The lower ground floor extends to a net internal area of approximately 888 sq ft thus providing a total net useable area of approximately 1,916 sq ft ( 178 sq m)



Planning



Interested parties are advised to make their own enquiries of the Local Authority for confirmation.



EPC Text



Asset Rating - D86



Rating



Rateable Value £12,000
Source www.voa.org.uk The 2022/2023 small business multiplier is 0.499 (XXX payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. *If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.



Terms



The commercial unit ( 1 Poole Hill ) is let to U Escape Limited by way of a lease granted for a term of 15 years from 9th June 2017. Four individuals stand as joint guarantors for the lease. We are advised that the rent passing is £14,100 per annum ( payable monthly in advance) and the lease provides for upwards only rent reviews at 3 yearly intervals. The tenant contributes towards to landlords costs of maintaining and repairing the common parts through a service charge which is linked to RPI. This was originally set at £200 per calendar month and is now, we are advised, payable at £215.57 pcm. The lease is subject to a Schedule of Condition.

Ground rents of £425 per annum ,as described above, are currently receivable from the long leaseholders of the flats.

The total income currently receivable including the commercial tenant's contribution towards maintenance etc. is £17,111.84 in the current 12 months period.

There are some external maintenance works in hand for which the freeholder is liable , we understand , for one third of the costs. Further details available from the agents .









( Agency Pilot Software ref: 8148 )