Land for saleSt. Peters Road, Bournemouth
Sold by Us
Investment opportunity. A newly converted Victorian building located in a conservation area within the heart of Bournemouth Town Centre. The building has undergone a complete refurbishment and building works should be completed by January 2017.
Comprising of: 16 x flats over four floors. Including: 4 x one bedroom flats and 12 x studio flats. Studio flats range in size between 219 sq ft (20.3 sq mt) and 278 sq ft (25.8 sq mt) and the one bedroom flats between 325 sq ft (30.2 sq mt) and 386 sq ft (36.0 sq mt). Each flat has been fitted out with quality fully fitted kitchens (inc: oven, hob, extractor, washing machine, dish washer, fridge/freezer), fully tiled shower rooms and fitted wardrobes. Electric heating and secondary double glazed sash windows or double glazed windows. Each flat has the benefit of SKY Q and Broadband. Communal rear garden with bike store and access path to Old Christchurch Road with its wide range of shops, restaurants and entertainment venues, bus routes to Poole & Christchurch Town Centers and train routes to London. The Churchfield lettings department have determined that if all the units were let on AST's the building would produce £121,920.00 p.a. gross, giving a 7.0% return, based on the asking price. The GDV for the units if sold separately is approximately £1,993,500.00. The freehold has a value of £120,000 based on the ground rents of £250.00 p.a. per unit. A new 125-year lease will be offered for all flats, so they could be sold separately in the future. The investment will be sold with the benefit of the freehold and a Build Zone 10-year guarantee. For further details please Contact Andrew Hooper. More development and investments on our web site www.churchfield.uk.com
Development or Investment site (s), bought through Churchfield the purchaser is required to retain us at the rate of 1.8% (minimum fee of £2,400) including Vat at the prevailing rate. For any Land, Development or Investments acquired, Churchfield must be instructed to re-sell the finished units at 1.8% including vat or re-let at 9.6% including vat (fully managed) the acquired property or the developed properties on a sole agency basis within three years of completion. If Churchfield are not instructed and the acquisition is sold or Let by the purchaser/s within this period, an additional fee of 1.8% including vat (minimum fee £2,400 including vat) of the original purchase price will be chargeable to the purchaser in addition to any other costs or charges agreed. Once the three-year period after completion of the purchase has expired, the purchaser is free to offer the acquisition to any third party with Churchfield having no financial interest.
Churchfield Offer a FREE Selling Service to Vendors of Land and Investments
£480.00 (Inc. VAT) agency fee applies per property (Additional fees apply for guarantors and additional applicants) Full breakdown of fees available on request
1. We have not been able to test any equipment/appliances and recommend that any prospective purchasers arrange for a qualified person to check them before entering into any commitment.
2. These particulars are issued on a strictly Private & Confidential basis and on condition that the information given is for private use of the recipient and any professional adviser consulted by the recipient and, further, that any information contained within these Particulars is not divulged to third parties. To comply with the Property Misdescriptions Act of 1991 these Particulars are intended only as a guide and must not be relied upon as a statement of fact.
3. In compliance with the Property Misdescriptions Act 1991 these particulars are prepared for the guidance only of prospective purchasers, they are intended to give a fair overall description of the property or premises concerned but are not intended to constitute part of an offer or a contract.
4. Any information contained herein (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact.
5. Nothing in these particulars shall be deemed to be a statement that the property is in good condition or otherwise or that any services or facilities are in good working order.
6. Any photographs appearing in the literature may not show all the property and show only certain aspects of the property at the time when the photographs were originally taken. Certain aspects of the property may have changed since the photographs were taken, it should not be assumed that the property remains precisely as depicted in the photographs. Furthermore, no assumption should be made in respect of any parts of the property, which are not shown in the photographs.
7. Any measurements, areas or distances referred to herein are approximate only. If the property is undergoing conversion/refurbishment some changes to size and specification may change. Potential purchasers should satisfy themselves as to the correct dimensions before entering any agreement.
8. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of a part of the property, this is not intended to be a statement that any necessary planning, building regulation or other consents have been obtained. Any intending purchaser must verify these matters.
9. Any statements regarding Leasehold Interests have been prepared with due diligence but we will not necessarily have had sight of original legal documentation. It will be the responsibility of the intended lessee or purchaser to confirm that these details are correct with the vendors or landlord's legal representatives.
10. Descriptions of the property are inevitably subjective and the descriptions contained herein are used in good faith as an opinion and not by way of a statement of fact.
11. If renting a commercial property, you should be aware that the Code of Practice on Commercial Leases in England and Wales strongly recommends that you seek professional advice from a qualified surveyor, solicitor or licensed conveyancer before agreeing or signing a business tenancy agreement. The code is available via the website: http://www.leasingbusinesspremises.co.uk/
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