58-61 Westover Rd 2,215 SF Retail Condo Unit Offered at $1,840,167 CAD in Bournemouth BH1 2BZ

Property Description:
Comprises an upper ground floor restaurant that benefits from an outdoor seating area and a lift, providing the following accommodation and dimensions:
Upper Ground Floor: 205.76 sq m (2,215 sq ft)
Open plan restaurant, bar, kitchen, staff rooms, storage, wc

Location:
The property is situated in a prominent corner location on the northern side of the prestigious Westover Road, just off Bath Road (A3066) which is the main road into Bournemouth town centre. The property lies in a prime leisure location between the town centre and the seafront less than 100 metres from three major council car parks providing a total of over 450 parking spaces. Nearby occupiers include Nando's, PizzaExpress, Five Guys, Starbucks, Wagamama and Turtle Bay.

Investment Consideration:
Gross Initial Yield: 7.69%
Rental Income: £75,000 p.a.
VAT is applicable to this property. TOGC available.
Let until December 2039. No breaks. Rent reviews in 2029 and 2034.
Comprises upper ground floor restaurant premises t/a Prezzo
Benefits from large glass frontage and external terrace with sea views
Prime leisure location between the town centre and the seafront less than 100m from three major council car parks providing a total of over 450 parking spaces
Nearby occupiers include Nando's, Pizza Express, Five Guys, Starbucks and more.

Tenancy:
The property is at present let to Prezzo Trading Limited for a term of 25 years from 4th December 2014 at a current rent of £75,000 per annum and the lease contains full repairing and insuring covenants. Rent review on 04.12.29 and 04.12.34 open market upward only. No breaks. Lease within Landlord & Tenant Act 1954.

Tenure:
Virtual freehold. Held on a 999 Year lease from 25th December 2001 at a fixed ground rent of £1 p.a.