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Lot - Corn Market House, 34-36 High Street, & 1 New Street, Poole, Dorset, BH15 1BP

Guide Price* £475,000

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Property Type
Mixed Use
Tenure
Freehold
Type
Commercial
Bidder Security Deposit
£3,500*

Property Summary

  • Freehold retail/residential investment
  • Two retail units trading as Mungo’s Corner and Angels Above Tattoo & Piercings let on leases expiring in 2028 and 2031 respectively
  • Three flats each let on periodic tenancies
  • Extensive refurbishment works have been carried out
  • Producing £49,800.00 per annum

Freehold town centre mixed use investment producing £49,800.00 per annum

Description

The property comprises an attractive early 19th century Grade II Listed mixed use town centre corner building arranged as two ground floor retail units with three self-contained flats (2 x one bedroom, 1 x three bedroom) arranged over the first and second floors of the entire building that have separate access from New Street. The property has been extensively refurbished.

Location

Poole is an attractive and prosperous Dorset harbour town renowned for its beauty, maritime heritage and leisure activities located 36 miles south-west of Southampton and 5 miles west of Bournemouth.
The town is located on the A350/A3049, with the M27 Motorway lying approximately 22 miles north-east, with access via the dual carriageway (A31/A348). Poole mainline station is operated by South Western Railway, with regular services to Weymouth and London Waterloo with approximate journey times of 40 minutes and just over 2 hours respectively.

The property is situated on the north side of High Street at the junction with New Street. Nearby occupiers include Slug & Lettuce and Sainsbury's Local.

Tenancy Schedule

Address Floor Use Sq M Sq Ft Tenant Tenancy Rent (£ pa)
34-36 High Street Ground Retail
Kitchen
34.70
4.00
374
43
t/a Mungo's Corner (1) 6 years from 19/06/2022 £12,600.00
1 New Street Ground Retail 8.50 91 t/a Angels Above Tattoo & Piercing (2) 6 years from 30/11/2025 £6,000.00
Flat 1 Second Residential Three bedroom flat Individual 12 month periodic tenancy £13,800.00
Flat 2 First Residential One bedroom flat Individual Periodic tenancy £8,100.00
Flat 3 First Residential One bedroom flat Individual Periodic tenancy £9,300.00
Total £49,800.00

Note

The retail floor areas have been taken from the VOA website.

(1) Mungo’s Corner trades as a café.

(2) Angels Above Tattoo & Piercing is a tattooist and piercing business. There is a mutual rent review clause and option to determine at the end of year 3.

EPC Rating

34/36 High Street – C
1 New Street Street – C
Flat 1 - E
Flat 2 – E
Flat 3 - E

VAT

Please refer to the legal pack in this regard

Disclaimer*

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide Price.

The Guide Price for the Lot does not include the Buyers Administration Fee of £1,500 (inclusive of VAT). In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

To participate in the sale, SW Property Auctions must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £5,000 comprises £3,500 relating to your bidder security (partial deposit payment) and the buyers administration fee of £1,500 (inc. VAT).

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All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of SW Property Auctions or the seller.

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Additional Information

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Office Contact

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Oliver Childs
07732 681 150
Sanderson Weatherall LLP,
4th Floor,
87-88 Bartholomew Close,
London,
EC1A 7BL

Joint Agent

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Abcore Real Estate
Robert Neaverson
020 3002 1234

Vendors Solicitor

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McPhersons Solicitors LLP
Chris Nichols
07827 441273

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