This property is due to be auctioned on the 27th Februay 2018 at The Grace Room, The Bristol Pavilion, County Ground, Nevil Road, Bishopston, Bristol at 7pm.
FREEHOLD MIXED-USE INVESTMENT
Substantial, three story mixed use investment comprising a ground floor shop of approximately 1,000sqft and 3 self contained flats to upper floors. The property is fully let and currently producing £38,500 per annum.
Situated on Regent Street being the main High Street in Kingswood within close proximity to the Kings Chase Shopping Centre. Kingswood offers easy access to Bristol City Centre and has good links to the Avon Ring Road and further afield. Notable nearby occupiers include 'Nationwide Building Society', 'Domino's Pizza', 'St Peters Hospice' as well as various local, independent retailers and eateries.
Please refer to floorplan for approximate room measurements and internal layout.
Shop: The retail shop is let on a 5 year Full Repairing and Insuring lease from 15th June 2017 at £14,500 Per Annum + VAT with 3 months deposit provided to the landlord.
9A: Let at £725 per calender month on a standard AST agreement.
9B: Let at £725 per calender month on a standard AST agreement.
9C: Let at £550 per calender month on a standard AST agreement.
Shop: The rateable value as per the VOA website is £11,250.
Flats: Band A
We are informed there is live planning to extend the rear studio flat to accommodate a larger 1 bedroom flat which would increase the overall income.
We are informed that VAT is applicable on this property and the purchase price is subject to such.
Ratings: Shop: E, 9A: C, 9B: C, 9C: D
Mr L Jacobs
Redfern & Co
Third Floor, White House
111 New Street
Birmingham B2 4EU
Telephone: 0121 643 0395
Please be advised that all purchasers are subject to a £750 plus VAT (£900 inc VAT) buyer's premium payable upon exchange of contracts.
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
If you are unable to attend the auction then you can submit a proxy bid. This will authorise a representative of Maggs & Allen to bid on your behalf up to a pre-set amount. The proxy bidding form is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and 2 cheques (one for the 10% deposit and one for the buyer's premium of £900 inc VAT) is required by the auction department no later than 4pm on the day of the auction.
If you are intending to bid and are successful, the following will be required:
* Proof of identity (valid passport or photo driving licence).
* Proof of address (bank statement, recent utility bill, council tax bill or tenancy agreement).
* 10% deposit payment.
* Buyer's premium payment.
* Details of your solicitor.
Forms of acceptable payment:
* Bankers Draft
* Debit Card Payment
For card payments:
Please ensure that you advise your bank of the potential payment prior to the auction.
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.