Clarence Street, Gloucester, Gloucester

Asking price £1,000,000 - For Sale

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Telephone: 0117 973 4940

Email: admin@maggsandallen.co.uk

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Property Details

***MIXED-USE FREEHOLD INVESTMENT*** Substantial mixed residential/commercial investment comprising 4 x four bedroom student flats with an additional ground floor commercial unit. The property is currently partially let but we are advised a gross annual income of £89,200 per annum once fully let. The property is situated in Gloucester city centre opposite the bus station. Early enquiries are recommended.

DESCRIPTION -

Freehold, 4 storey, mixed-use investment property situated in the centre of Gloucester. The accommodation is arranged as a ground floor restaurant with 4 x four bedroom self contained flats. The property is currently partially let (as the clients await the new student term) although once fully let we are advised £89,200 per annum to be in order.

LOCATION -

Situated in the Kings Quarter designated development zone the property will significantly benefit from the redevelopment of the city centre meaning there is likely to be good long term capital growth. Works on the £7.5 million redevelopment of Gloucester bus station have already begun and will have an immediate impact on the area once completed which we expect to be the start of the regeneration process.

ENERGY PERFORMANCE CERTIFICATE -

Shop: D
Flats: Ground Floor: D First Floor: C Second Floor: C Third Floor: D

FLOOR PLAN -

The floor plan has been provided for indicative purposes only and are not to be replied upon.

VAT -

All figures quoted are exclusive of VAT unless otherwise stated.

VIEWING -

Strictly by appointment with Maggs & Allen.

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LEASE DETAILS -

GROUND FLOOR -

The Ground Floor comprises a lock up shop of circa 103 sqm currently used as a Restaurant/takeaway let at £16,000 per annum (£1,333pcm) on a 5 year Full Repairing and Insuring lease with approx. 2 years remaining. We are informed the leaseholder is keen to secure a longer 15 year lease.

In addition, there is a recently converted 4 bedroom flat of circa 176 sqm let at £19,200 per annum (£1,600pcm).

FIRST FLOOR -

Comprises of a 4 bedroom flat of circa 111sqm which was previously let at £18,000 per annum (£1,500 pcm). Currently awaiting next student term to commence.

SECOND FLOOR -

Comprises of a 4 bedroom flat of circa 111sqm which was previously let at £18,000 per annum (£1,500 pcm). Currently awaiting next student term to commence.

THIRD FLOOR -

Comprises of a 4 bedroom flat of circa 111sqm which is currently let at £18,000 per annum (£1,500 pcm).

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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.