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Accommodation
In accordance with the floor plans which are available to download, the property provides the following net internal floor areas;
| Gross Frontage | 7.56 m | 24 ft 10 in’s |
| Built Depth | 28.24 m | 92 ft 8 in’s |
| Retail Depth | 21.56 m | 70 ft 9 in’s |
| Ground Floor | ||
| Zone A | 39.6 sq m | 426 sq ft |
| Zone B | 39.5 sq m | 425 sq ft |
| Zone C | 39.0 sq m | 420 sq ft |
| Zone D | 14.4 sq m | 155 sq ft |
| ITZA | 70.9 | 763 |
| Total Retail | 132.5 sq m | 1,426 sq ft |
| Ancillary | 20.0 sq m | 215 sq ft |
| Total Ground Floor | 152.5 sq m | 1,641 sq ft |
| First Floor | ||
| Ancillary | 68.0 sq m | 732 sq ft |
| TOTAL (Net Internal Area) | 220.5 sq m | 2,373 sq ft |
Tenure
Freehold.
Tenancy
The property is entirely let to Santander UK PLC on a full repairing and insuring basis for a term of 5 years from 15th May 2026, at a current passing rent of £41,000 per annum. The lease provides for a tenant break option on 14th May 2029, subject to a 3 months’ rent penalty.
Santander occupied under an earlier lease at a rent of £42,750 per annum. As a result, it can be appreciated that the rent was re-based at the lease renewal in 2026.
Covenant
Santander UK PLC (Co No.02294747) has reported the following figures:
| 31st December 2025 | 31st December 2024 | |
| Total Operating Income | £4,729 million | £4,657 million |
| Pre-Tax Profits | £1,482 million | £1,349 million |
| Shareholders’ Equity | £13,018 million | £10,873 million |
Santander UK is a large retail and commercial bank based in the UK and a wholly owned subsidiary of the major global bank Banco Santander. For further information visit www.santander.co.uk/.
EPC
The property has an Energy Performance Certificate rating of B.
VAT
The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek a figure of £578,000 (Five Hundred and Seventy-Eight Thousand Pounds), subject to contract, reflecting a net initial yield of 6.75%, assuming standard purchaser’s costs of 4.98%.
Please note a purchaser will be charged a Transaction Fee of 1.0% of the Purchase Price plus VAT, and the cost of searches.
Investment Considerations
An opportunity to acquire a highly secure retail investment let to the undoubted covenant of Santander UK PLC;
In excess of 4.5 years unexpired lease term;
The property occupies a prime retailing pitch in the town centre;
Christchurch is an affluent town and popular tourist destination;
A purchase at the asking price will provide an investor with an attractive net initial yield;
Attractive lot size to an investor.
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