***SALE AND LEASEBACK OPPORTUNITY*** A freehold commercial investment of approximately 6,000sqft arranged over two storeys offered for sale as a leaseback to 'The Workout Bristol Limited'. The first floor operates as a gym and the ground floor is sublet as to a CrossFit gym. A new 25 year Full Repairing and Insuring lease is proposed, at a passing rent of £45,000pa. The property is situated in a popular location within close proximity to North Street, Southville and Greville Smyth Park.
A two storey gym of approximately 6,000sqft arranged as a large ground floor gym with two first floor studios, additional toilets and showers. The property is situated just off Ashton Road close to Greville Smyth Park and benefits from off street parking to the front. The property is offered for sale on a sale and leaseback basis. A new 25 year lease is proposed at a passing rent of £45,000pa.
The property is situated just off Ashton Road opposite Greville Smyth Park, within easy reach of the shops and amenities of North Street, Southville. We understand that there are plans for a substantial redevelopment of the neighbouring site to create 94 new homes and 2,000sqm of co-working and commercial space.
PROPOSED LEASE -
Our client is proposing a leaseback to The Workout Bristol Limited. The Workout Bristol Limited were incorporated in March 2010.
A new 25 year Full Repairing and Insuring lease at a passing rent of £45,000pa has been proposed. The lease will be within the security provisions of The Landlord & Tenant Act 1954, subject to a 10 year tenant only break option and 5 yearly upwards only market rent reviews.
The tenant will have the right to sublet a part of the space to another D1/D2 occupier.
Rating: C - May 2017.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
All figures quoted are exclusive of VAT unless otherwise stated
BUSINESS RATES -
The property is currently rated as:
Ground Floor - The Workout, Lower Baynton Buildings - £13,500 effective from April 2017
We have been unable to locate the rating for the first floor.
There is a car park to the front of the property.
Viewings are strictly by appointment only 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.
Maggs & Allen use all reasonable endeavours 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.