Cobham Road, Ferndown Industrial Estate Wimborne, DORSET, BH21 7PE, UK

Porsche Bournemouth

Asset Description

The two storey, purpose-built property comprises 33,500 sq ft of accommodation, built to Porsche’s latest brand standards.

The ground floor totals 22,086 sq ft and includes a 6,605 sq ft showroom and ancillary offices together with 9,785 sq ft of workshop accommodation.

The first floor mezzanine has an additional 11,415 sq ft of showroom, office, consultation and customer welfare accommodation.

There are 103 parking spaces within a secure compound to the rear, 22 customer spaces outside the front of the property (including 6 electric vehicle charging points and 2 disabled spaces), and 51 spaces on the roof which is accessed via a car lift from within the property.

...

Attributes

Building area net

3,112 m²

Occupancy

100%

WAULT

146.6 years

Asking price

€2,990,000

Media

Investment Highlights

Located within the highly affluent area of Ferndown
A modern 33,500 sq ft purpose built prestige car showroom and repair centre
Prominently situated on the corner of the A31 Ferndown bypass, the main link between Bournemouth and Poole
Secure, long let indexed linked ground rent investment let to Thetford Reversion Limited
Lease for a term of 150 years from 30th June 2021, expiring 29th June 2171
Current passing rent of £126,228 per annum
The site is let to Thetford Reversion Limited and occupied by Group 1 Automotive (formerly Inchcape)
Freehold
Yearly upwards only RPI linked rent reviews with a cap and collar of 1% - 3.5% per annum

We are instructed to seek offers in excess of £2,500,000 (Two Million, Four Hundred and Fourteen Thousand Pounds) subject to contract and exclusive of VAT.

A purchase at this level reflects a net initial yield of 4.75% assuming standard purchaser’s costs of 6.38%.