Lot O7 - 76 The Esplanade, Weymouth, Dorset, DT4 7AA

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £275,000

Addendum

In the Particulars of Sale and the Schedule of Accommodation and Tenancies note that under the column titled No. it should read 76 and not as stated.

Attractive Grade II Listed Freehold Betting Shop Investment

  • Located in established shopping parade on the sea front
  • Let to Done Brothers (Cash Betting) Ltd until 2024
  • Self-contained upper parts may lend themselves to development (1)
  • No VAT applicable

Tenure

Freehold

Location

The property is situated opposite Weymouth Beach on the West side of The Esplanade, between its junctions with Gloucester Street and Westham Road.
Occupiers close by include Marks and Spencer, Londis and Barclays Bank amongst other local occupiers.

Description

This Grade II listed property is arranged on basement, ground and three upper floors to provide a ground floor betting shop with basement ancillary accommodation. The self-contained upper floors provide further ancillary accommodation, not presently used by the tenant and are accessed via The Esplanade.
The basement and upper floors benefit from rear access.

Planning

(1) The upper floors may lend themselves to residential conversion subject to the existing lease and obtaining any necessary consents. All enquiries in this regard should be made with the local authority, Dorset County Council. www.dorsetforyou.gov.uk

VAT

VAT is not applicable to this lot.

To View

There will be a single block viewing held prior to the auction. If you would like to attend you must register with us in advance no later than 12 noon on Friday 7th September.

Please email amy.heuch@allsop.co.uk with the name and mobile number of each party wishing to attend. Photographic ID will be required on the day. In the subject box of your email please enter Lot O7 Weymouth.

Current Rent

Current Rent Reserved £19,321 p.a.

Buyers Fee

Buyers Fee -The successful purchaser will be required to pay the auctioneers administration fee of £600 inclusive of VAT. Other additional costs/fees may apply please see Special Conditions of Sale.


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Sold for £306,500

This auction lot is now closed.

Auction Ended

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* Reserve not to exceed:
£275,000
Gross initial yield:
7.0%
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
74 Done Brothers (Cash Betting Ltd) Gross Frontage
Net Frontage
Shop Depth
Built Depth
Basement
Ground Floor
First Floor
Second Floor
Third Floor
6.30 m
4.30 m
18.35 m
20.95 m
101.60 sq m
97.60 sq m
64.20 sq m
51.00 sq m
33.90 sq m
(20' 8")
(14' 1")
(60' 2")
(68' 8")
(1,094 sq ft)
(1,050 sq ft)
(691 sq ft)
(549 sq ft)
(365 sq ft)
15 years from 24.06.2009
Rent Review every 5th year
FR&I
£19,321 p.a. Rent Review 2019
Total £19,321 p.a.

  • * The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price.
  • The Reserve Price will only be disclosed once it has been met during bidding and not before.
  • The term "reserve not to exceed £..." means that the seller's lowest acceptable sale price will not exceed the quoted figure. The reserve price will not be set above this figure. However, it could be set at, or indeed below, the "reserve not to exceed" figure stated.
  • Reserve prices are subject to change up to the date of the auction.
  • At the commencement of marketing a starting price is to be announced. The starting price will be published 24 hours before bidding opens.
  • Lots may be withdrawn prior to auction.