A substantial freehold commercial building fronting both Dove Lane and Wilson Place. The building is currently let to three separate tenants producing £56,800pa (approximately £3.80-£5.75/ft), which we feel is substantially below that of market level. The property is situated in a central position at the bottom of the M32 close to the entrance to the Cabot Circus car park.
The property is situated in a central Bristol location in an area that is due to undergo significant redevelopment. The site directly opposite the subject property was granted outline planning consent in December 2012 for a mixed use development of up to 21,892sqm residential floorspace (a maximum of 250 separate units); up to 8,400sqm of commercial floorspace (B1 Class); up to 2,000sqm of commercial floorspace (A1, A2, A3, A4 or A5); a doctors surgery of up to 150sqm (D1); and car and cycle parking, associated ancillary uses and infrastructure, structural landscaping and formation of public open spaces and associated infrastructure and public realm works.
Please refer to the floor plan for layout and sizes.
Arranged as ground floor office space with warehouse, photographic studio and further loft style office space to the first floor.
Arranged as dance studios to the ground floor with additional mezzanine level. To the first floor is a large, predominantly open plan office with additional recording studios.
Currently let to three tenants until 11th July 2017 (outside of the Landlord & Tenant Act) on the following basis:
Let to a theatre school at £14,000pa.
Let as offices/recording studio at £19,800pa.
Let at £23,000pa.
We would anticipate market rents in the region of £8/ft equating to approximately £100,000pa.
Offered for sale by Informal Tender - Guide Price £950,000. Best and final bids are invited in writing on a date and time to be confirmed. Offers are invited on both an unconditional and a subject to obtaining planning consent basis. Best and final offers are invited by 12 noon on 14th December 2016.
Andrew Frost - Colliers International: 0117 9172043.
Please note this property is elected for VAT. All figures quoted are exclusive of vat unless otherwise stated.
As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.
Strictly by appointment with Maggs & Allen.
Maggs & Allen use all reasonable endeavors to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.