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Lot - Cinnamon House, 24-26 High Street, Poole, Dorset, BH15 1BP

Guide Price* £775,000

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

Property Summary

  • In the same family ownership for over 50 years
  • Freehold retail/residential investment
  • Two retail units trading as Maddisons Hairdressers and The Brow Haus & Co. let on leases expiring in October 2028 and April 2030 respectively
  • Two flats and a rear mews house (one flat and mews house let, one flat vacant due to post let decoration)
  • Onsite parking for 5 cars
  • Extensive refurbishment works have been carried out
  • ERV £60,350.00 per annum

Freehold town centre mixed use investment. ERV £60,350.00 per annum

Description

The property comprises an attractive mixed use town centre Grade II Listed three storey building of red brick construction under a terracotta tiled roof arranged as two ground floor retail units with two self-contained two bedroom flats arranged over the first and second floors and a rear two bedroom mews house. The flats and the mews house are accessed from the rear of the property. The property has been extensively refurbished, and the redecoration of Flat 2 following a long let is being finished 27th March 2026.

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, almost opposite the junction with Bell Lane. Nearby occupiers include Slug & Lettuce and Sainsbury's Local.

Tenancy Schedule

Address Floor Use Sq M Sq Ft Tenant Tenancy Rent (£ pa)
24 High Street Ground Retail 51.42 553 t/a Maddisons Hairdressers (1) 6 years from 24/10/2022 £13,000.00
26 High Street Ground Retail 31.54 339 t/a The Brow Haus & Co (2) 6 years from 11/04/2024 £10,750.00
Flat 1 First / Second Residential Two bedroom flat Individual Monthly periodic tenancy £12,600.00
Flat 2 First / Second Residential Two bedroom flat The flat was let until early March 2026 at £12,000.00 pa and is currently under refurbishment Vacant (3) ERV £13,200.00
Mews House (Flat 3) Ground / First (rear) Residential Two bedroom mews house Individual Monthly periodic tenancy £10,800.00
Current Total £47,150.00
ERV £60,350.00

Note

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

(1) For further information on Maddisons Hairdressers visit their website at www.maddison-hairdressers.co.uk.
(2) For further information on The Brow Haus & Co. visit their website at www.thebrowhausandco.co.uk. There is a mutual rent review clause and option to determine at the end of year 3.
(3) Flat 2 was previously let until March 2026 for £12,000.00 per annum. The flat is currently vacant being redecorated after which we anticipate it will re-let swiftly. ERV £13,200.00 per annum.

EPC Rating

24 High Street – C
26 High Street – C
Flat 1 - C
Flat 2 – C
Flat 3 - C

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 £2,000 (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 £5,500 comprises £3,500 relating to your bidder security (partial deposit payment) and the buyers administration fee of £2,000 (inc. VAT).

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Oliver Childs
07732 681 150
Sanderson Weatherall LLP,
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Robert Neaverson
020 3002 1234
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Chris Nichols
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