25 Portland Street, Clifton, Bristol, BS8 4JB

Guide Price £250,000 - For Sale By Auction - LOT 23

COMMERCIAL INVESTMENT - SHOP / ART GALLERY & FLAT ABOVE

  • For Sale By Public Auction
  • Tuesday 18th June 2019
  • County Cricket Ground, Bishopston BS7 9EJ
  • Legal Packs via our website

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Telephone: 0117 973 4940

Email: admin@maggsandallen.co.uk

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Property Details

A mixed-use investment property arranged as a very well-presented ground floor art gallery with additional basement storage and a self-contained 1 bedroom flat above. The ground floor art gallery is let on a 5 year lease from March 2016 at a rent of £8,500 per annum and the flat is let producing £7,800 per annum although the tenant intends to vacate on 15th May 2019. A rare opportunity to purchase a freehold investment property in a fantastic prominent location in Clifton Village.

FOR SALE BY AUCTION -

This property is due to be auctioned on the 18th June 2019 at The Grace Room, The Bristol Pavilion, County Ground, Nevil Road, Bishopston, Bristol at 7pm.

VIEWING -

Thursdays 4.00pm - 4.30pm

SUMMARY -

COMMERCIAL INVESTMENT - SHOP / ART GALLERY & FLAT ABOVE

DESCRIPTION -

A mid-terraced two storey investment property arranged as a very well-presented art gallery on the ground floor with additional basement storage and a self-contained one bedroom flat at first floor level. The art gallery benefits from full-width windows to the front and is arranged in an L-shape with additional toilet facilities and basement storage. The flat is accessed via its own private entrance with a hallway and bathroom at ground floor level; a lounge, kitchen and bedroom on the first floor.

LOCATION -

The property is situated in a fantastic position on Portland Street in Clifton Village, close to the junction with The Mall. Notable occupiers in the vicinity include Cote Brasserie and The Ivy as well as a wide variety of independent retailers, restaurants and bars. Clifton Village is a beautiful suburb of Bristol, renowned for some of the most iconic destinations in Bristol, including Brunel's Suspension Bridge, the Observatory and Bristol Zoo.

SCHEDULE OF ACCOMMODATION (Approximate Floor Areas) -

Ground Floor Art Gallery (including WC and storage): 406 sq ft (37.7 sq m)
Basement: 135 sq ft (12.6 sq m)
Ground & First Floor Flat (1 Bed): 336 sq ft (31.2 sq m)

The above floor areas are provided for indicative purposes only and have been calculated on a Gross Internal Area basis.

FLOOR PLAN -

The floor plan is provided for indicative purposes only and should not be relied upon.

LEASE/TENANCY DETAILS -

Ground Floor Gallery & Basement: Let on a 5 year Internal Repairing & Insuring lease from 25/3/2016 at a rent of £8,500 per annum.

Flat (25A Portland Street) - Currently let on an Assured Shorthold Tenancy agreement at £650 pcm (£7,800 per annum), although the tenant has notified the managing agent that she intends to vacate at the end of the tenancy on 15/05/2019.

ENERGY PERFORMACE CERTIFICATE (EPC) RATINGS -

25 Portland Street: G
25A Portland Street: E

SOLICITOR -

Mr S Parker
Barcan + Kirby
199a Whiteladies Road
Clifton
Bristol BS8 2SB
Tel: 0117 905 9786
Email: s.parker@barcankirby.co.uk

BUYER'S PREMIUM -

Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 inc VAT) buyer's premium payable upon exchange of contracts.

*GUIDE PRICE -

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.

RESERVE PRICE -

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.

PROXY BIDDING -

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 £1,200 inc VAT) is required by the auction department no later than 4pm on the day of the auction.

ATTENDING 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.

DEPOSIT & BUYER'S PREMIUM PAYMENTS -

Forms of acceptable payment:

* Cheque
* Bankers Draft
* Debit Card Payment

For card payments:
Please ensure that you advise your bank of the potential payment prior to the auction.

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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.