Retail Investment with Development Opportunity
Summary
- Let to The Entertainer (Amersham) Limited
- Prominent position on Poole’s pedestrianised High Street
- Large retail unit – approximately 5,253 sq ft (488 sq m)
- Part vacant first floor space (1,130 sq ft) potentially suitable for redevelopment (STP)
- Nearby occupiers include The Works, Mountain Warehouse, Robert Dyas and Santander
Accommodation
The accommodation comprises the following areas:
| Name | sq ft | sq m |
| Ground - Retail Sale | 2,777 | 257.99 |
| Ground - Retail ancillary | 689 | 64.01 |
| 1st - Retail stock room | 1,787 | 166.02 |
| 1st - Vacant space | 1,130 | 104.98 |
| Total | 6,383 | 593 |
Location
The property is situated in a prime location fronting Poole’s pedestrianised High Street, between Lagland Street and Chapel Lane. The Chapel Lane public car park is located directly to the rear of the property whilst the Dolphin Shopping Centre is also within close proximity.
Nearby occupiers include The Works, Robert Dyas, Santander, Mountain Warehouse, Nationwide, Savers, CEX and Bon Marche.
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Mainline Stations
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Poole4 mins
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Parkstone (Dorset)32 mins
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Hamworthy32 mins
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Branksome56 mins
Underground Station
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Reading1304 mins
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Twyford1381 mins
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Maidenhead1504 mins
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Taplow1533 mins
Further Information
Price Offers in the region of £575,000
Rates Payable Upon Enquiry
Description
The property comprises an attractive two storey building with rear loading access.
The retail unit comprises accommodation on ground floor and part first floor. The ground floor is arranged with a large open plan sales area with rear ancillary accommodation and loading access. A stock room is situated on part of the first floor.
A separate vacant area is located on the first floor towards the front of the building with direct access to the High Street via an internal stairwell. The space is provided in shell condition and is potentially suitable for conversion to residential use or, alternative commercial uses (office, studio etc), subject to the necessary consent. A previous planning consent (now expired) achieved a change of use for two 1x bed flats of this area. The application also incorporated the separate space at the rear of the property retained on a Long Lease (7 flats in total)
The rear part of the building comprises additional void space but is subject to a Long Leasehold interest.
Tenure
Freehold, subject to an occupational lease to The Entertainer (Amersham) Limited.
The rear part of the building is subject to a long leasehold interest.
Lease Terms
The retail unit is let to The Entertainer (Amersham) Limited on a 6 year effective full repairing and insuring lease from 28/01/2022, subject to an open market rent review on 28/01/2027, at a current passing rent of £50,000 per annum exclusive.
Covenent
The Entertainer (Amersham) Limited (Company No. 02057757) has a Credit Score of 96/100 (Very Low Risk). It provides a strong covenant with a turnover of £208m in 2024 and pre tax profits of £7.88m.
Proposal
We are instructed to seek offers in the region of £575,000 (Five Hundred and Seventy Five Thousand Pounds) exclusive.
EPC
An EPC has been commissioned and will be provided shortly.
VAT
The property is elected for VAT and we anticipate that the sale will be undertaken as a Transfer of a Going Concern (TOGC).
AML
A successful bidder will be required to satisfy all Anti Money Laundering requirements when Heads of Terms are agreed.
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