East Street, Bedminster, Bristol, Bristol

£625,000 - For Sale

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Telephone: 0117 973 4940

Email: admin@maggsandallen.co.uk

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The above is offered for indicative purposes only and should not be relied upon. Rates will vary lender to lender and subject to the customer’s specific circumstances. Fee’s may also apply.

Property Details

An exciting opportunity to purchase three adjoining mixed-use investment properties arranged as a triple fronted ground floor retail unit with 4 flats above (2 x 2 Bed Maisonettes, 1 x 1 Bed Maisonette and a 1 Bed Flat). In addition the property includes a parcel of land to the rear which offers potential for further development (subject to planning). The property is currently partially let producing approximately £38,200 per annum with potential to increase to circa £47,800 per annum once fully occupied. Situated in a prominent trading position on East Street in Bedminster, the property provides easy access to the city centre and Bristol Temple Meads train station.

DESCRIPTION -

A substantial mixed-use investment property comprising three adjoining terraced buildings, situated in a prominent trading position on East Street in Bedminster. The property is currently arranged to provide a triple fronted ground floor retail unit, 2 x 2 Bedroom Maisonettes, 1 x 1 Bedroom Maisonette and a 1 Bedroom Flat. Also included is a storage unit and building plot to the rear.

LOCATION -

The property is situated on East Street in Bedminster opposite ASDA, within close proximity to Coronation Road and the city centre. Bristol Temple Meads train station is located just 0.9 miles away and other notable occupiers in the vicinity include Barclays Bank, William Hill and Iceland.

ACCOMMODATION -

Please refer to floorplan for internal layout and approximate room sizes. The floor plan is provided for indicative purposes only and should not to be relied upon.

The aerial plan is for indicative purposes only.

GROUND FLOOR - Approx. 1,197 sq ft (111.2 sq m) -

Currently trading as a pawnbrokers and arranged to provide a main retail area with various partitioned offices, stores, a kitchen and toilet facilities - Shaded grey on the floorplan.

SCHEDULE OF RESIDENTIAL ACCOMMODATION -

13A East Street: 2 Bedroom Maisonette - Shaded yellow on floorplan.
15A East Street: 2 Bedroom Maisonette - Shaded blue on floorplan.
17A East Street: 1 Bedroom Flat - Shaded green on floorplan.
17B East Street: 1 Bedroom Maisonette - Shaded pink on floorplan.

TENURE -

Understood to be freehold.

LEASE/TENANCY DETAILS -

Ground Floor Shops -

Let for a term of 15 years from 2005 to 'Speedloan Finance Limited' subject to 5 yearly rent reviews at a current passing rent of £17,500pa on an effectively Internal Repairing and Insuring basis. For the year ended 31 March 2016 Speedloan Finance Limited reported a gross profit of £23m and a balance of £1,303,357.

Residential Accommodation -

13A East Street - Currently vacant, mid-refurbishment, requires further investment.
15A East Street - Let on an AST producing £600pcm (£7,200 pa)
17A East Street - Let on an AST producing £525 pcm (£6,300 pa)
17B East Street - Let on an AST producing £600 pcm (£7,200 pa)

ENERGY PERFORMANCE CERTIFICATES -

13 - 17 East Street (Shops) - D.
13A East Street - D. 15A East Street - E. 17A East Street - E. 17B East Street - C.

VAT -

All figures quoted are exclusive of VAT unless otherwise stated.

VIEWINGS -

Strictly by appointment with Maggs & Allen.

CONTROL OF ASBESTOS -

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.

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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.