Property Details
Pugh Auctions
Lot 085
Lot 085
Auction: October Auction 2015 22/10/2015

Units 1-12 Gordon Row, Chapelhay, Weymouth, Dorset, DT4 8LL

Property Details
Location

The units are located approximately 0.25 miles south of Weymouth town centre and Weymouth Bay is just a short walk. Gordon Row can be accessed by foot from either Franchise Street or St Leonard's Road, directly from the A354.

Description

Ten retail investments forming two facing shopping parades within Chapel Hay having pedestrianised access only. Two of the units are currently vacant with the remaining units producing a combined income of ú41,700 per annum. The potential rent when fully let is considered to be ú63,620 per annum*. Unit 7 has been sold on a Long Leasehold.

Accommodation

BLOCK ONE Unit Size Lease Rent 1 90 sq m (969 sq ft) Vacant N/A 3 45 sq m (485 sq ft) 10 years from 01/09/2013 ú6,240 5 59 sq m (635 sq ft) 10 years from 07/04/2014 ú5,200 7* 55 sq m (592 sq ft) 124 years from 22/01/2003 - 9 42 sq m (452 sq ft) 10 years from 11/12/2013 ú5,200 BLOCK TWO Unit Size Lease Rent 2 38 sq m (410 sq ft) 10 years from 13/08/2014 ú5,200 4 58 sq m (628 sq ft) 10 years from 10/04/2015 ú4,680 6 55 sq m (592 sq ft) Vacant N/A 8 46 sq m (500 sq ft) 10 years from 01/05/2015 ú5,200 10/12 82 sq m (883 sq ft) 10 years from 01/10/2009 ú9,980 *Unit 7 has recently been sold for the sum of ú70,000.

Approx Site Area

Approximately 806 sq m (964 sq yds).

Tenure

Leasehold for a term of 125 years (less 3 days) from 22nd January 2003.

General

1. It is the Vendors opinion that the ERV for Unit 1 is ú11,000 per annum and ú6,240 for Unit 6. *Interested parties should rely on their own enquiries. 2. Units 1, 6, 7, 10/12- Energy Performance Asset Rating = D. Units 2 and 3 - Energy Performance Asset Rating = G. Units 4,5,8,9- Energy Performance Asset Rating = E.

Addendum

The Vendor does not have a copy of the lease for Unit 10 to 11, but they believe it is a 10 year lease from 1 October 2009 with a current rent of ú9,980 which they are receiving. Leasehold for a term of 125 years (less 3 days) from 22nd January 2003. The interest being sold is ground floor only. The rent on Unit 2 has been reduced to ú5,200 pa by a side letter rising to ú6,240 in Year 3. The rent on Unit 4 has been reduced by a side letter to ú4,680 pa in Year 1, rising to ú5,200 in Year 2, rising to ú6,240 in Year 3. The term for Unit 4 is 10 years from 10th April 2015. The rent on Unit 5 has been reduced to ú5,200 pa by a side letter rising to ú6,240 in Year 3. The term for Unit 5 is 10 years from 7th April 2014. The term for Unit 5 is 10 years from 1st May 2014. The rent on Unit 9 has been reduced to ú5,200 pa by a side letter rising to ú6,240 in Year 3. The current annual equivalent rent is ú41,700 per annum.

Property Location Address:
Units 1-12 Gordon Row,
Chapelhay,
Weymouth,
Dorset,
DT4 8LL
Auction Details
Auction: October Auction 2015 Date: 22nd October 2015 Lot Number: 085 Doors Open: 12:00pm Bidding Starts: 12:00pm
Address:
Manchester City Football Club,
Manchester,
M11 3FF

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