439-443 Wimborne Road, Bournemouth, Dorset, BH9

Investment Consideration:
Gross Initial Yield: 8.69%
Rental Income: £86,500 p.a.
VAT is NOT applicable to this property
Low capital value of £120 per sq ft
Two-storey retail parade comprising 3 ground floor shops with ancillary accommodation at first floor
Residential and retail redevelopment potential, STTP. No.443 tenant vacating in June 2025.
Situated on the east side of Wimborne Road, the principal thoroughfare of Winton, with occupiers close by including Waitrose, KFC, Greggs, Lidl, Nationwide, Betfred, Halifax and more.

Property Description:
Two-storey retail parade comprising 3 ground floor shops with ancillary accommodation at first floor. The property benefits from rear entrance and allocated car parking, providing the following accommodation and dimensions:
No.439: 190 sq m (2,040 sq ft)
Ground Floor: 95 sq m (1,020 sq ft)
Open plan retail, office, storage, wc
First Floor: 95 sq m (1,020 sq ft)
Ancillary, storage, office
No.441: 192 sq m (2,074 sq ft)
Ground Floor: 100 sq m (1,081 sq ft)
Open plan retail, office, storage, wc
First Floor: 92 sq m (993 sq ft)
Ancillary, storage, office
No.443: 411 sq m (4,425 sq ft)
Ground Floor: 207 sq m (2,225 sq ft)
Open plan retail, office, storage, wc
First Floor: 204 sq m (2,200 sq ft)
Ancillary, storage, office
Total GIA: 793 sq m (8,539 sq ft)

Development Potential:
No.443 tenant vacating in June 2025. Ground floor provides redevelopment potential to be split into 2 retail units, while first floor provides residential development potential under PD. The rear entrance of each shop opens directly onto a staircase leading to the first floor, providing easy access in the event of redevelopment Additional development potential of the remaining accommodation at first floor, as well as two-storey extension above, subject to vacant possession and obtaining the necessary consents.

Tenancy:
No.439 is at present let to The Trussell Trust for a term of 5 Years from 1st February 2020 (holding over) at a current rent of £23,000 p.a. and the lease contains full repairing and insuring covenants. Tenant in occupation since 2010.
No.441 is at present let to Funeral Services Limited for a term of 10 Years from 20th November 2015 at a current rent of £22,000 p.a. and the lease contains full repairing and insuring covenants.
No.443 is at present let to Debra UK for a term of 6 years from 13th June 2019 at a current rent of £41,500 p.a. and the lease contains full repairing and insuring covenants.
Tenant vacating in June 2025.

Location:
Bournemouth, with a population of 155,000, is an important regional, commercial and resort town on the south coast located 32 miles west of Southampton. The town benefits from good communications being located on the A35/A338 which leads to the A31 trunk road to the east of the town, which in turn connects to the M27 south coast motorway. Winton is a suburb of Bournemouth which is located some 3 miles north of the town centre. The property is situated on the east side of Wimborne Road, the principal thoroughfare of Winton, with occupiers close by including Waitrose, KFC, Greggs, Lidl, Nationwide, Betfred, Halifax and more.