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Lot 5

Restaurant Investment - Gross Yield 10.2%
On behalf of Trustees
6 Week Completion

Situation

Located at the busy junction with Holdenhurst Road and Christchurch Road (A35), close to such multiples as Ladbrokes, Papa Johns, Subway, Domino's and Betfred.
Bournemouth Railway Station (CrossCountry and South Western Railway) is less than ½ mile distant.
Bournemouth is a popular seaside resort on the South Coast, approximately 25 miles south-west of Southampton.

Property

Forming part of a terraced property comprising a Ground Floor and Basement Restaurant.

Accommodation

Ground Floor Restaurant
Gross Frontage	19'0"
Internal Width	17'5"
widening at rear to	18'9"
Restaurant Depth	36'2"
Built Depth	70'10"
Restaurent Area	Approx. 650 sq ft
Kitchen/Prep Area	Approx. 390 sq ft
2 WCs
Basement Restaurant
Seating Area	Approx. 370 sq ft

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 29th June 1984 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to KK-Cchin Sushi Bar Limited as a Sushi Bar for a term of 10 years from 21st January 2020 at a current rent of £17,850 per annum exclusive rising to £18,500 p.a. in January 2028.

Note 1: The tenant did not action their January 2027 Break.

Note 2: There is an £8,500 Rent Deposit held.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

6 Lansdowne Road, Bournemouth, Dorset BH1 1SD