Investment Consideration:
Rental Income: £90,000 p.a.
Let until 2047 (no breaks)
Rent reviews every 5th Year linked to RPI
VAT is NOT applicable to this property
Comprises two-storey detached nursery with two outbuildings on a 2.25 acres site
Successful nursery operator with multiple locations across UK
Located close to A338 and A31, with direct link to Southampton and Bournemouth.
Property Description:
The property comprises two-storey detached nursery on a large plot of 2.25 acres land. The ground floor provides dining area, commercial kitchen, cloakrooms, changing areas and WCs. The first floor accommodation is similar in style to each ground floor element and is used for the baby element with associated kitchen, offices and staff WCs. There are also two outbuildings used as staff/laundry room and temporary pre-school.
Ground Floor: 162.08 sq m (1,744 sq ft)
Conservatory, Play Area, Storage, Office, WCs
First Floor: 108.91 sq m (1,172 sq ft)
Sleeping Rooms, Kitchen, Office, Storage, WCs
Outbuilding: 16.22 sq m (175 sq ft)
Staff and Laundry Room
Outbuilding: 76.62 sq m (825 sq ft)
Temporary pre-school
Total net internal area: 364 sq m (3,916 sq ft)
Tenancy:
The property is at present let to Ellingham House Day Nursery Limited for a term of 25 years from 7th April 2022 at a current rent of £90,000 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:
Ringwood is a market town in south-west Hampshire, England, located on the River Avon, close to the New Forest, northeast of Bournemouth and southwest of Southampton. Ellingham is a small hamlet, part of the parish of Ellingham, Harbridge and Ibsley, to the west of the New Forest National Park. This particular group of property is situated 0.2 miles west of the A338, two miles north of Ringwood, 15 miles south of Salisbury, 4 miles south of Fordingbridge. The A31 connects Southampton (22 miles) and the M27 (14 miles) to the east, westward to Dorchester (32 miles) and the West Country. The A338 connects south to Bournemouth (12 miles) and Salisbury (16 miles) to the north.
