Lakehouse Nursery, 49 Beach Road West, BS20

Investment Consideration:
Rental Income: £70,000 p.a.
Let until 2047 (no breaks)
Rent reviews every 5th Year linked to RPI
VAT is NOT applicable to this property
Comprises late Victorian three-storey detached house, operating as a nursery
Successful nursery operator with multiple locations across UK
Excellent location overlooking the sea, adjacent to a Lake Grounds and associated public car park.

Property Description:
The property comprises late Victorian three-storey detached house with modern rear extensions and two conservatories, operating as a children`s day nursery. The property benefits from external garden areas, which are substantially surfaced in artificial grass or similar materials to provide all weather play.

The property provides the following accommodation and dimensions:
Ground Floor: 107.81 sq m (1,160 sq ft)
Reception, Sleep Rooms, Storage, Kitchen, WCs
First Floor: 64.44 sq m (694 sq ft)
4 Playrooms, Staff WC
Second Floor: 13.96 sq m (150 sq ft)
Ancillary, Office Room
Total net internal area: 186.21 sq m (2,004 sq ft)

Tenancy:
The property is at present let to Lakehouse Nurseries Ltd for a term of 25 years from 31st March 2022 at a current rent of £70,000 per annum and the lease contains full repairing and insuring covenants. Guarantor is LGDN Bidco Limited, parent company of Family First Nursery and Little Garden Nursery Group. No break clause. Rent review every 5th Year linked to RPI.

Location:
Portishead is a town on the Severn Estuary, approximately ten miles west of Bristol, part of north Somerset District Council`s administrative area. The town has areas of high-quality residential property, particularly between the town centre and Portishead beach. The A369 runs through the town and connects to the M5 at Junction 19, with alternative access via the B3124 at Junction 20. A new railway station for Portishead is planned (estimated 2024 opening), part of the MetroWest programme which will reinstate rail links to Bristol. The property is located at the junction of Beach Road West with Lake Road, overlooking the sea and being adjacent to Lake Grounds, a park arranged around a large artificial lake with café and public conveniences in the opposite side of Lake Road.