Description
FOR SALE - Mixed-Use Freehold Investment in Prominent Town Centre Location
The attractive and historic East Dorset market town of Wimborne Minster is situated approximately 5 miles north of Poole and some 10 miles north west of Bournemouth.
The town features a vibrant mixture of local and national retailers and also features a strong foody scene with a number of quality independent restaurants, cafes and bars trading alongside Wetherspoons and Piazzo Lounge.
Both Waitrose and Co-op have supermarkets in the town and other major retailers represented include Fat Face, Rohan, Crew Clothing, Mint Velvet, Superdrug, WH Smith, Specsavers, Seasalt, Moshulu and Phase Eight.
The premises occupy an excellent trading location within the town centre being prominently located at the junction of Poole Road and East Street each of which offer shopper's car parks within close proximity.
The premises also benefit from roadside parking (subject to daytime restrictions) within a few yards.
The ground floor is tenanted by 'The Mobility Shop' and comprises a good-sized corner shop which is linked to a spacious warehouse benefitting from retail frontage. The warehouse also features a mezzanine floor and good loading facilities via a roller shutter door.
The warehouse has been stud partitioned to form a second, spacious and well fitted retail unit within it.
As such the premises, as currently configured, offer excellent retail and storage facilities together with a stockroom, office, staffroom, kitchenette and WC.
The first floor is tenanted by Rawlins Davy Reeves (Formerly Jacob and Reeves), benefits from two ground floor entrances and a large reception area with five separate office rooms, kitchenette and small store room.
Accommodation
25-26 East Street | Retail and Warehouse
Gross Frontage: 113' 6" (34.60m)
Retail Frontage: 94' 8" (28.86m)
Corner Shop/ Showroom
Internal Width (max): 23' 10" (7.26m)
Shop Depth (max): 59' 1" (18.01m)
Net Sales Area: 1,240 Sq. Ft. (115 Sq. M.)
Storeroom: 135 Sq. Ft. (12.55 Sq. M.)
Office: 38 Sq. Ft. (3.53 Sq. M.)
Staffroom: 47 Sq. Ft. (4.37 Sq. M.)
Kitchen: 24 Sq. Ft. (2.23 Sq. M.)
Cloakroom: with WC
Warehouse: 3,070 Sq. Ft. (285 Sq. M.)
incorporating stud partitioned retail unit of 1,024 Sq. Ft. (95 Sq. M.)
Mezzanine Floor: 1,552 Sq. Ft. 144 Sq. M.
NET USEABLE AREA
Ground Floor: 4,554 Sq. Ft. (423 Sq. M.)
Mezzanine: 1,552 Sq. Ft. (144 Sq. M.)
TOTAL: 6,106 Sq. Ft. (567 Sq. M.) approx.
Outside:
Small enclosed yard.
25 East Street | First Floor Office
Reception - 278 Sq. Ft. (25.84 Sq. M.)
Office 1 - 139 Sq. Ft. (12.93 Sq. M.)
Office 2 - 165 Sq. Ft. (15.31 Sq. M.)
Office 3 - 86 Sq. Ft. (8.02 Sq. M.)
Office 4 - 204 Sq. Ft. (18.96 Sq. M.)
Office 5 - 134 Sq. Ft. (12.47 Sq. M.)
Store - 37 Sq. Ft. (3.41 Sq. M.)
Kitchenette
WC
Net Internal Area: 1043 Sq. Ft. (96.94 Sq. M)
Combined Total Net Internal Area: 7149 Sq. Ft. (664.40 Sq. M) Approx.
Planning
Interested parties are advised to make their own enquiries of the Local Authority for confirmation.
EPC Text
Asset Rating - Ground Floor (25-26) - D78
First Floor (25) - E123
Rating
RATEABLE VALUE
Ground Floor (25-26) - £58,500
First Floor (25) - £12,250
Terms
Offers invited in the region of £800,000 subject to contract.
It is proposed there is a sale of the share capital of the owning company 'Dolloways Hardware Limited' by way of a share transfer.
Stamp Duty Savings -
Estimated Stamp Duty Reserve Tax Payable of £4,000.
A traditional purchase would incur a Stamp Duty Land Tax cost of £29,500.
A purchase through share transfer will save approximately £25,500 on Stamp Duty.
VAT is not applicable on this purchase.
Situation and Description
TENANCY DETAILS
25-26 East Street - Is let to Baron Medical Limited trading as 'The Mobility Shop' by way of an effectively full repairing and insuring lease granted for a term of two years from 12th October 2023, expiring 11th October 2025. The lease benefits from a personal directors' guarantee.
The current passing rent is £30,000 per annum, exclusive payable monthly in advance. The lease is contracted outside of the Landlord and Tenant Act 1954 Part II.
Estimated rental value - Approximately £49,000 Per Annum
25 East Street - Is let to private individuals trading as Rawlins Davy Reeves (formerly Jacob and Reeves) by way of an internal repairing and insuring lease granted for a term of 6 years from 1st September 2009 (holding over).
The current passing rent is £16,000 per annum, exclusive payable monthly in advance.
Total current income: £46,000 per annum, exclusive.
Potential reversionary income: Approximately £65,000 per annum.
Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.
( Agency Pilot Software ref: 10359 )