Unit 1, 83 Ringwood Road, Parkstone, Poole, Dorset

Property Details: • Type: Commercial Property • Tenure: FREEHOLD • Floor Area: 8739 sqft

Key Features: • Sale and leaseback • New overriding lease of the whole building at a rental income of £65,000 p.a. • Warehouse and Yoga Studio, secure yard and 12 parking spaces to front • Gross Internal Area: 8,739 sq.ft. (811 sq.m.)

Location: • Nearest Station: Parkstone Station • Distance to Station: 0.7847488618510283 miles

Agent Information: • Address: Old Library House, 4 Dean Park Cresent, Bournemouth, BH1 1LY

Full Description: <b>Situation and Description</b><br /><br />The property is located in an established industrial estate fronting the busy B3068 Ringwood Road that is one of the main arterial roads into Poole Town Centre. If you continue north on Ringwood Road there are numerous industrial estates and other commercial occupiers along the length of the road. The subject property is located next door to Jewson Builders Merchants, Oasis Home and Garden discount retailer and Oops vehicle Body repair and workshop.<br /><br />The property comprises a traditional industrial unit of steel portal frame construction. The ground floor comprises a Yoga retail shop at the front and warehouse behind. The warehouse has the benefit of a mezzanine floor over the entire footprint of the warehouse. The Accommodation includes a self contained yoga studio. The Yoga studio is accessed from the front of the building into a ground floor reception area and the first floor mezzanine comprises two yoga studios male and female cloakrooms. Outside there is a secure yard , 12 parking spaces and land that houses 7 shipping containers for the owner occupiers business.<br /><br /><br /><br /><b>Planning</b><br /><br />The only information available on the council planning portal was for a single storey flat roofed extension to form yoga studio. Granted 27th October 2016. <br />Planning Application No. APP/16/01365/F<br /><br /><br /><b>Legal Fees</b><br /><br />Each party will be responsible for their own legal fees.<br /><br /><b>EPC</b><br /><br />Rating D<br /><br /><b>Accommodation Text</b><br /><br />Yoga shop / Office 33'05" x 19'00" (10.1m x 5.8m)<br />Warehouse 49'06" x 80'06" (15.1m x 24.5m)<br />Office 8'06" x 21'03" ( 2.6m x 6.5m)<br />Mezzanine floor 49'06" x 80'06" (15.1m x 24.5m)<br /><br />Yoga Studio<br />Ground floor reception with stairs leading to first floor <br />First floor comprises two Yoga studios, male and female changing rooms <br /> 17'08" x 59'09" (5.3m x 18.2m)<br />Gross Internal Area 8,739 sq.ft. (811 sq.m.) Approx<br /><br />Outside<br />Secure Yard to the side of the building (shared with the neighbouring units 3 and 4)<br />12 parking spaces in front of the building<br />Additional land that is currently used to house 7 shipping containers for the freeholders business<br /><br /><br /><br /><b>Tenure Comments</b><br /><br />The Yoga Studio is let on a 5 year lease from 2021 at a rental of £20,000 p.a. <br /><br />The current owners Lonach Investments Limited (company number 04120687) will be taking a new overriding lease of the whole property for a term of 10 years with a fifth year rent review at a rental of £65,000 p.a The lease will be within the provisions of the Landlord and Tenant Act there will include an option to renew the lease for a further 10 years<br /><br />Lonach Investments Limited, which trades as YogaStudio, is an ecommerce company that sells sports clothing and equipment but primarily specialising in yoga and Pilates, to both retail and wholesale customers online. Their website is below<br />yogastudiostore.com<br /><br />Projected sales for the year ending March 2026 will be £1.7m (excluding VAT) and a Net Profit after tax of £101,000. The latest accounts at Companies House show Shareholders Funds of £628,858<br /><br />The company has recently secured distributor rights for a USA Brand which is projected to increase turnover by £200,000.<br /><br />PRICE<br />£855,000 subject to and with the benefit of the new lease and rental income of £65,000 p.a. <br /><br /><br />INVESTMENT FOR SALE