Telephone: 0117 973 4940
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.
Thursdays 2.15pm - 2.45pm
MIXED-USE FREEHOLD INVESTMENT - CAFE & 4 BEDROOM MAISONETTE
A four storey mixed-use investment property arranged as a well-presented cafe over ground and basement levels (approx 1,280 sq ft) with an additional self-contained 4 bedroom maisonette above. The property is currently let at £27,600pa (including bills in respect of the maisonette) although we consider that there is potential to increase the rents to approximately £37,000pa (exclusive of bills).
The property is situated in a prime position just off Whiteladies Road/Blackboy Hill in Clifton in a mixed parade of shops. Neighbouring occupiers include Alfie & Bella pet shop and Divino Deli.
Ground Floor Cafe (including rear kitchen): 570 sq ft (52.9 sq m)
Basement (additional kitchen/storage rooms): 624 sq ft (57.9 sq m)
First & Second Floor Maisonette: 1,195 sq ft (111.1 sq m)
To the rear of the property is an enclosed rear courtyard providing access to the basement level and stairs to the maisonette. Access to the courtyard is obtained from Whiteladies Road.
Let for a term of 5 years from 11th May 2012 at £12,000 per annum on an effectively Full Repairing and Insuring basis (subject to a fair and reasonable proportion). The tenant is currently holding over although we are informed that the tenant would like to renew. We understand that the lease was assigned to the current tenant on the 14th January 2013. A rent review was due in May 2015 although we understand that this has not been actioned.
The maisonette is let to 4 students on the following basis:
Room A - Let at £350pcm on on a 12 month Assured Shorthold Tenancy from 9th September 2018.
Room TBC - Let at £325pcm on a 12 months Assured Shorthold Tenancy from the 3rd September 2017.
Room TBC - Let at £325pcm on a 9 month Assured Shorthold Tenancy from 7th September 2015.
Room D - Let at £300pcm on a 14 months Assured Shorthold Tenancy from 7th June 2018.
We understand that whilst it is not referred to in the tenancy agreements, the landlord includes utility bills within the rent. Deposits are lodged with the DPS.
Ground Floor Shop: E
Mr P Murray, Star Legal
Tel: 01275 858266
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 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 £1,200 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.