Lot 163: FREEHOLD INVESTMENT

Sold £120,000

Located in central Bournemouth, this three storey building comprises a ground floor shop, which is currently let at £12,000 per annum, and five flats which are all sold on long leases.

Three of the residential leases remain on their original terms and it is considered that there will be an uplift from the extension of these in the future.

The freeholder is responsible for the maintenance and upkeep of the building, the costs of which are recoverable by way of a service charge.

Ground Floor

Main retail area, store room, staff kitchen and cloakroom with W.C.

Tenancy

Let under the terms of a three year lease from April 2018 at a rental of £12,000 per annum.

Upper Floors

Flats 1-3

Tenure

Sold on 99 year leases, from 25th March 2002, each at a current rental of £150 per annum.

Flats 4-5

Tenure

Sold on 125 year leases, from 25th March 2017, each at a current rental of £100 per annum.

Auctioneer’s Note

Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.

Residential EPC: C
Commercial EPC: G