Retail - Investment
Summary
- Superb trading location on Poole High Street, close to Dolphin Shopping Centre.
- Prominent position adjacent to busy railway crossing.
- Unbroken freehold interest with upper parts included.
- Let to Sportswift Limited trading as Card Factory.
- Fixed rental increase from 22nd May 2027, from £37,500 pa to £40,000 pa for remainder of the term.
- Price - £475,000 exclusive.
Accommodation
The property has the following approximate net internal floor areas:
| Name | sq ft | sq m |
| Ground | 1,657 | 153.94 |
| 1st | 1,420 | 131.92 |
| Total | 3,077 | 285.86 |
Location
The property is situated in a strong trading position fronting the pedestrianised Poole High Street shopping area close to the Dolphin Shopping Centre and adjacent to the High Street level crossing. The level crossing is in regular use and many people congregate outside the property when the barriers are down.
Nearby operators include TG Jones, Grapetree, Superdrug, Cards Direct, Saltrock, Delfino Lounge (Loungers), Coffee#1, Cornish Bakehouse, Vodafone and various others.
Get directions from Google Maps
Mainline Stations
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Poole3 mins
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Parkstone (Dorset)30 mins
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Hamworthy33 mins
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Branksome54 mins
Underground Station
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Reading1302 mins
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Twyford1379 mins
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Maidenhead1502 mins
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Taplow1531 mins
Further Information
Price £475,000
Rates Payable Upon Enquiry
EPC Rating This property has been graded as D (100)
Description
The property comprises an attractive two storey retail unit with rear loading access. The ground floor is currently configured with open plan sales accommodation and separate partitioned office accommodation to the rear. A loading door provides access to a rear loading area accessed from Pitwines Close.
A rear staircase provides access to a sizeable first floor area which provides storage, ancillary staff accommodation and WC’s.
Tenancy
The property is let to Sportswift Limited (trading as Card Factory) on a 5 year lease from 22nd May 2023 at a current passing rent of £37,500 per annum increasing to £40,000 per annum from 22nd May 2027, for the remainder of the term. The lease contains full repairing and insuring covenants and is subject to a photographic schedule of condition.
The Tenant has the benefit of a break option on the 22nd May 2026, subject to 6 months written notice, but no notice has been given.
NB - The lease includes 3 months rent free from the 22nd May 2026 and it is anticipated that the equivalent pro rata rent-free amount will be factored in as a reduction to an agreed sale price - if a sale completes prior to, or during the rent free period.
Covenant
Sportswift Limited (Company No. 03493972 has a Credit Score of 100/100 (Very Low Risk). It provides a very strong covenant with turnover of £587 million and profit after tax of £53 million for the year ending 31/01/25. The company is part of the Card Factory plc Group.
Proposal
We are instructed to seek offers in the region of £475,000 (Four Hundred and Seventy Five Thousand Pounds) exclusive.
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.
EPC
The property has an energy rating of D-100. A copy of the full EPC is available on request.
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