SIPP 16 - White House Resource Centre
The property is situated in a prominent location on the main office Park in Sherborne and adjacent to residential properties.
The site itself is circa 0.42 of an acre and the building is single storey. The property could be split in the future to provide five individual units.
The property is used as a day centre by the NHS Trust.
The NHS Trust have leased this property for the last 11 years and it is our understanding that they also own some adjoining residential property and this relates to their occupation of Unit 4.
• This property was purchased by one of our shorter term Aqua Partnerships, with the express intention of achieving a new lease and then selling Unit 4 to a longer term pension syndicate. Lewis’ are minor investors in that Aqua and it is appropriate that we state the potential conflict of interest. However an independent valuation from property advisers Cowling and West will qualify the price the syndicate is paying for this unit.
• We are able to secure funding from NatWest at extremely competitive rates, thereby achieving discounts not available to a typical private investor.
PURCHASE PRICE £675,000
MEMBERSHIP TO THIS SIPP SYNDICATE NO LONGER AVAILABLE
There is tarmac car parking at the front of the building for 18 cars.
Rent and Lease
• The rent review is on a five-yearly upward only basis; the new 10 year lease is on a full-repairing and insuring basis with a break option in July 2012 with a six month penalty if vacating at that point.
• The new rent is £ 53,750 per annum and should increase at the next rent review in July 2012.
• The tenant is the Dorset NHS Trust .
< Back