£575,000
Retail premises for saleHigh Street, Christchurch BH23
2,373 sq. ft
Just added
About this property
Summary
Undoubted Income – Let to Santander UK plc
In excess of 4.5 years unexpired lease term
Prime retailing pitch opposite Marks & Spencer and close to a Waitrose store
Affluent town and popular tourist destination
Tenant been in occupation since 2000
Freehold
£575,000, subject to contract
6.75% Net Initial Yield
Location
The historic town of Christchurch lies approximately 6 miles east of Bournemouth, 23 miles south-west of Southampton and 100 miles south-west of London.
The town benefits from good road communications being served by the A35 which runs from Devon through to Southampton via Poole, Bournemouth and the New Forest. To the north of the town the A338 connects with the A31 which provides access to the M27 Motorway. The town is well connected to the national railway network with a fastest journey time to London Waterloo of 1 hour 56 minutes. Bournemouth International Airport is approximately 4 miles to the north-west and offers regular flights to other European Countries.
Christchurch is positioned next to the New Forest which, along with the town’s award-winning beaches, coastal nature reserves and heritage attractions make it a very popular tourist destination.
Situation
The property occupies a prime retailing pitch on High Street, the town’s main retailing thoroughfare. Other nearby occupiers include Marks & Spencer (opposite), Waitrose, Greggs (adjacent), HSBC, Barclays and Caffe Nero.
The property also benefits from being next to the entrance to the Saxon Square Shopping Centre. Comprising 28 shops the centre is occupied by a mixture of national brands and independent retailers with occupiers including Holland & Barrett, Boots, wh Smith, Costa, Argos, Poundstretcher and The Works.
Housing association Aster Group has obtained full planning consent for a mixed used regeneration scheme on the site of the former magistrates’ court and police station near the Fountain Roundabout, a few minutes’ walk from the subject property. The development will provide 169 homes including a range of one, two, three and four-bedroom homes. For further information see .
Description
The property comprises a ground floor retail unit configured as an open-plan banking area with office/meeting rooms on the first floor. The unit has been fitted out by the tenant, Santander, in their usual corporate style.
Accommodation
In accordance with the floor plans which are available to download, the property provides the following net internal floor areas;
Gross Frontage 7.56 m 24 ft 10 in’s
Built Depth 28.24 m 92 ft 8 in’s
Retail Depth 21.56 m 70 ft 9 in’s
Ground Floor
Zone A 39.6 sq m 426 sq ft
Zone B 39.5 sq m 425 sq ft
Zone C 39.0 sq m 420 sq ft
Zone D 14.4 sq m 155 sq ft
itza 70.9 763
Total Retail 132.5 sq m 1,426 sq ft
Ancillary 20.0 sq m 215 sq ft
Total Ground Floor 152.5 sq m 1,641 sq ft
First Floor
Ancillary 68.0 sq m 732 sq ft
total (Net Internal Area) 220.5 sq m 2,373 sq ft
Tenure
Freehold.
Tenancy
The property is entirely let to Santander UK plc on a full repairing and insuring basis for a term of 5 years from 15th May 2026, at a current passing rent of £41,000 per annum. The lease provides for a tenant break option on 14th May 2029, subject to a 3 months’ rent penalty.
Santander occupied under an earlier lease at a rent of £42,750 per annum. As a result, it can be appreciated that the rent was re-based at the lease renewal in 2026.
Covenant
Santander UK plc (Co No.02294747) has reported the following figures:
31st December 2025 31st December 2024
Total Operating Income £4,729 million £4,657 million
Pre-Tax Profits £1,482 million £1,349 million
Shareholders’ Equity £13,018 million £10,873 million
Santander UK is a large retail and commercial bank based in the UK and a wholly owned subsidiary of the major global bank Banco Santander. For further information visit .
EPC
The property has an Energy Performance Certificate rating of B.
VAT
The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (togc).
Proposal
We are instructed to seek a figure of £578,000 (Five Hundred and Seventy-Eight Thousand Pounds), subject to contract, reflecting a net initial yield of 6.75%, assuming standard purchaser’s costs of 4.98%.
Please note a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT, and the cost of searches.
Investment Considerations
An opportunity to acquire a highly secure retail investment let to the undoubted covenant of Santander UK plc;
In excess of 4.5 years unexpired lease term;
The property occupies a prime retailing pitch in the town centre;
Christchurch is an affluent town and popular tourist destination;
A purchase at the asking price will provide an investor with an attractive net initial yield;
Attractive lot size to an investor.
For full details please visit our website
* Sizes listed are approximations. Please contact the agent to verify actual sizes.
Undoubted Income – Let to Santander UK plc
In excess of 4.5 years unexpired lease term
Prime retailing pitch opposite Marks & Spencer and close to a Waitrose store
Affluent town and popular tourist destination
Tenant been in occupation since 2000
Freehold
£575,000, subject to contract
6.75% Net Initial Yield
Location
The historic town of Christchurch lies approximately 6 miles east of Bournemouth, 23 miles south-west of Southampton and 100 miles south-west of London.
The town benefits from good road communications being served by the A35 which runs from Devon through to Southampton via Poole, Bournemouth and the New Forest. To the north of the town the A338 connects with the A31 which provides access to the M27 Motorway. The town is well connected to the national railway network with a fastest journey time to London Waterloo of 1 hour 56 minutes. Bournemouth International Airport is approximately 4 miles to the north-west and offers regular flights to other European Countries.
Christchurch is positioned next to the New Forest which, along with the town’s award-winning beaches, coastal nature reserves and heritage attractions make it a very popular tourist destination.
Situation
The property occupies a prime retailing pitch on High Street, the town’s main retailing thoroughfare. Other nearby occupiers include Marks & Spencer (opposite), Waitrose, Greggs (adjacent), HSBC, Barclays and Caffe Nero.
The property also benefits from being next to the entrance to the Saxon Square Shopping Centre. Comprising 28 shops the centre is occupied by a mixture of national brands and independent retailers with occupiers including Holland & Barrett, Boots, wh Smith, Costa, Argos, Poundstretcher and The Works.
Housing association Aster Group has obtained full planning consent for a mixed used regeneration scheme on the site of the former magistrates’ court and police station near the Fountain Roundabout, a few minutes’ walk from the subject property. The development will provide 169 homes including a range of one, two, three and four-bedroom homes. For further information see .
Description
The property comprises a ground floor retail unit configured as an open-plan banking area with office/meeting rooms on the first floor. The unit has been fitted out by the tenant, Santander, in their usual corporate style.
Accommodation
In accordance with the floor plans which are available to download, the property provides the following net internal floor areas;
Gross Frontage 7.56 m 24 ft 10 in’s
Built Depth 28.24 m 92 ft 8 in’s
Retail Depth 21.56 m 70 ft 9 in’s
Ground Floor
Zone A 39.6 sq m 426 sq ft
Zone B 39.5 sq m 425 sq ft
Zone C 39.0 sq m 420 sq ft
Zone D 14.4 sq m 155 sq ft
itza 70.9 763
Total Retail 132.5 sq m 1,426 sq ft
Ancillary 20.0 sq m 215 sq ft
Total Ground Floor 152.5 sq m 1,641 sq ft
First Floor
Ancillary 68.0 sq m 732 sq ft
total (Net Internal Area) 220.5 sq m 2,373 sq ft
Tenure
Freehold.
Tenancy
The property is entirely let to Santander UK plc on a full repairing and insuring basis for a term of 5 years from 15th May 2026, at a current passing rent of £41,000 per annum. The lease provides for a tenant break option on 14th May 2029, subject to a 3 months’ rent penalty.
Santander occupied under an earlier lease at a rent of £42,750 per annum. As a result, it can be appreciated that the rent was re-based at the lease renewal in 2026.
Covenant
Santander UK plc (Co No.02294747) has reported the following figures:
31st December 2025 31st December 2024
Total Operating Income £4,729 million £4,657 million
Pre-Tax Profits £1,482 million £1,349 million
Shareholders’ Equity £13,018 million £10,873 million
Santander UK is a large retail and commercial bank based in the UK and a wholly owned subsidiary of the major global bank Banco Santander. For further information visit .
EPC
The property has an Energy Performance Certificate rating of B.
VAT
The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (togc).
Proposal
We are instructed to seek a figure of £578,000 (Five Hundred and Seventy-Eight Thousand Pounds), subject to contract, reflecting a net initial yield of 6.75%, assuming standard purchaser’s costs of 4.98%.
Please note a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT, and the cost of searches.
Investment Considerations
An opportunity to acquire a highly secure retail investment let to the undoubted covenant of Santander UK plc;
In excess of 4.5 years unexpired lease term;
The property occupies a prime retailing pitch in the town centre;
Christchurch is an affluent town and popular tourist destination;
A purchase at the asking price will provide an investor with an attractive net initial yield;
Attractive lot size to an investor.
For full details please visit our website
* Sizes listed are approximations. Please contact the agent to verify actual sizes.
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