10 East Street, Blandford Forum, Dorset, DT11 7DR
A Freehold Retail Investment Opportunity
Features
- Retail shop with 6 flats above (sold off long leasehold)
- 926 sq ft shop trading as a bookmakers
- Let to Done Brothers (Cash Betting) Limited (t/a Betfred) for 16 years from 28/02/2011 (lease expiry 2027)
- Passing Rent of £16,321 per annum
- Located on the main retail thoroughfare in the town
- No VAT applicable
- Freehold
- Rear car park with 18 spaces (sold off long leasehold)
- Guide Price: £149,500
Description
The property comprises a ground floor retail shop currently trading as Betfred bookmakers and fitted out to their usual corporate design. To the first floor, there are 6 flats which have been sold off long leasehold. To the rear there is a car park for 18 cars (also sold off long leasehold) where the occupational tenant has the right to park two cars.
Location
Blandford Forum is an attractive Dorset town located on the River Stour, 16 miles north-west of Bournemouth and 12 miles south of Shaftesbury. It lies in close proximity to the A350 and A345 roads, which link to the A303 to the north and the A31 and A35 to the south. The property is situated on the north side of East Street (B3082), between its junctions with Damory Street and Sheep Market Hill. Occupiers close by include: Sue Ryder, M&Co, Age UK, Specsavers, Dominos and Boots, amongst a range of local traders.Accommodation
Ground Floor – 926 sq ft (86 sq m).First Floor – 6 flats (sold off long leasehold).
External
To the rear there is a car park which has been sold off on a long lease, however Betfred has an exclusive right to use two of the parking spaces.Tenure
Freehold, subject to existing tenancy.Tenancy
Please see enclosed brochure.Price
Offers based on £149,500 are sought for the Freehold interest, equating to a net initial yield of 10.72%.Business Rates
The property has a rateable value of £9,400 and qualifies for 100% business rates relief. Purchasers should satisfy themselves in this regard.Additional Information
TENANT PROFILE -Incorporated in 1976, Done Brothers functions as a facilitator of gambling and betting activities. The primary activity of the company concerns retail bookmaking estate, trading under the Betfred name. The retail business consists of traditional Licensed Betting Offices (LBOs) situated at various locations throughout the United Kingdom. Done Brothers run 1,029 betting offices across the UK.
The ultimate parent company is Betfred Group Holdings Limited. Betfred is a recognised global brand in the betting and gambling industry. The company has over 50 years of history and continues to be owned by family.
