Retail premises to let in 1-2 Royal Arcade, Bournemouth, Dorset BH1

Description

Lease for Assignment- Retail Unit With Return Frontage to and Basement Space In Prime Royal Arcade Location.

This Grade II listed building occupies a prime trading position, opposite kfc and located at the western end of Boscombe's pedestrianised shopping precinct fronting the main pedestrianised entrance to the Royal Arcade.

The subject premises can be accessed from both the Arcade and the High Street, it comprises an open ground floor sales space which is currently configured as a post office and benefits from extensive basement storage space.

The property benefits from three phase electricity, air conditioning and has been granted planning for off-licence.

The Royal Arcade provides a mixture of independent retailers and other major names trading close by include McDonalds, Subway, Primark and the O2 Academy.

Accommodation

Ground Floor
Sales Area 1,313 Sq.Ft (121.95 Sq.M)

Basement
Storage Rooms 1,245 Sq.Ft (115.63 Sq.M)

Total Internal Area 2,558 Sq.Ft (237.64 Sq.M)

Planning

Interested parties are advised to make their own enquiries of the Local Authority for confirmation. Under the new planning regulations, we believe the current permitted use to be use class 'E' which includes uses such as retail, professional services, café, health clinics, indoor recreation/sport and office. All parties are advised to make their own enquiries of the local authority for confirmation.

EPC Text

Asset Rating - B 39

Rating

Rateable Value £29,000
Source The 2024/2025 small business multiplier is 0.499 (49.9p payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. *If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.

Terms

The premises are held on the residue of an effective full repairing and insuring lease (via service charge) granted for a term of 10 years from 22 August 2018 at a passing rent of £29,500 per annum, excusive expiring on 2028. Please note VAT is payable on the rents.

Service charge

The building operates a service charge budget and the current amount payable by the subject premises is £125 per quarter plus VAT.

All interested parties should be aware of the Code of Leasing Premises 1st Edition, February 2020, for England and Wales, which recommends that they should seek professional advice from property professionals before agreeing or entering into a business tenancy.