Commercial property for sale

£180,000

Floorplan

Ideally Positioned in a prime location in the middle of Boscombe Town Centre is this freehold commercial unit available FOR SALE.

The property is located within the pedestrianised section of the Christchurch Road and lies a short distance from the Sovereign Shopping Centre. The commercial unit is well positioned on the busy Highstreet of Boscombe Town Centre and is 1 of 4 commercial units available.

Why invest into Boscombe
Boscombe is located to the east of Bournemouth Town Centre and is west of Southbourne. Originally a sparsely inhabited area of heathland, from around 1865 Boscombe developed rapidly from a small village into a seaside resort alongside Bournemouth. Its first pier opened in 1889, and the commercial Centre of Boscombe had a major boost with projects by Archibald Beckett including blocks of shops, the Salisbury Hotel, the Royal Arcade, and a Grand Theatre, which was to become the Boscombe Hippodrome, then the Royal Ballrooms and today the O2 Academy.

Usage
The property is currently sat empty, and has been cleared leaving a tiled floor, roller shutter and suspended ceiling. The commercial unit offers a Long-established Class A1 retail use and falls within Class E Commercial Businesses and Services, which include A1 retail, A2 office, A3 Catering, B1 Light Industrial, Indoor sports, and Medical use, or as crche/day nursery.

Dimensions
Shop width 13 (3.97m)
Shop Depth 865" (26.35m)
Total front sales area: 1127.19 sq.ft. (104.72 sq.m.)
Rear Store: 126.69 sq.ft. (11.77 sq.ft.)


Home to miles of sandy beaches, the popular pier, it has something for everyone. Boscombe is the perfect place to move to whether you are living alone, with your partner or with a family. It offers plenty of things to do and boasts a busy high street and round the clock entertainment.
There are numerous architectural styles within the town, ranging from the elaborate Victorian style of the Royal Arcade and St Clements Church, notable examples of Art Deco such as the former Gas & Water Company store at 709 Christchurch Road, and the modernist 1950s styles of the pier and Overstrand buildings. Alongside these are modern flats developments such as The Reef, The Point (sometimes called the Pointer by some residents) and Honeycombe Beach.

Renting the property out
This property is currently available to rent and vendors will offer a 3 month free rent period. Expected income with a new lease could realise 15,000 per annum.

The vibrant Town Centre continues to grow in stature with more and more independent companies positioning their stores and boutiques alongside some of the biggest names in retail. The Town Centre is going to go under re-generation in the next few years and will provide a number of new homes, facilities and public spaces to enjoy.

Agent Notes
Available for Sale
Available to Rent
Freehold Building
Tenure Freehold commercial unit.
EPC - Rating E-106
All mains utilities are connected




1. Money laundering regulations: intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: while we endeavor to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: these approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants. Neither Martin and Co Bournemouth limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.

Mortgage Calculator

Your property may be repossessed if you do not keep up repayments on your mortgage.

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Monthly Payment: £ 8,216.87

Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )

Return on Investment

£
£
£
£

Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.

Mortgage Required

£ 142200

Mortgage Loan to Value

%

Gross Yield

%

Annual ROI

%

Annual Rental Profit

£

Cumulative Rental Profit

£

Cost of Purchase

£
  • Stamp Duty
    £

    Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.

  • Refurbishment Budget
    £ 4500
  • Survey Costs
    £ 400
  • Mortgage Fees
    £ 1,000

    Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Legal Fees
    £ 1,300

Adjust these figures

£

The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.

£

This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.

£

Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.

£

This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.

Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.

Annual Costs

£ 7200
  • Mortgage Interest
    £

    The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.

  • Letting and Management Costs (Inc VAT)
    £
  • Letting Fee
    £
  • Maintenance
    £
  • Insurance
    £ 500
  • Ground Rent
    £ 0
  • Service Charge
    £ 0

Adjust these figures

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  %
£
  %

This is the percentage of the rent that you will spend maintaining the property.

£

Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.

£

Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.

£

This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.

Total Profit

£
  • Final Equity Profit
    £

    Final Equity Profit = Final Property Value - Mortgage Required - Investment

  • Cumulative Rental Profit
    £

    Cumulative Rental Profit = Annual rental profit x Time of Investment

Adjust these figures

  %

This is the assumed rate of house price inflation.

Final Property Value

£

This is the property value at the end of the investment based on an assumed rate of % house price inflation.

Notes

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