***MIXED-USE INVESTMENT WITH DEVELOPMENT POTENTIAL*** An opportunity to purchase a mixed-use freehold property comprising a substantial ground floor retail unit with rear store (approx. 1,152 sqft) and a 3 bedroom maisonette above. The ground floor unit is to be sold with vacant possession but we anticipate a rental income in the region of £12,000pa and offers potential for conversion of the rear section into a self-contained flat, subject to consents. The maisonette is currently vacant, but has been producing an income of £795 pcm. The property is situated in a prime position on Regent Street in Kingswood in a varied parade of shops within close proximity to Kings Chase Shopping Centre.
A three storey mixed-use commercial investment opportunity with further development potential to the rear in a prime location in Kingswood. The property is currently arranged to provide a sizeable ground floor retail unit with additional toilet facilities and extensive storage. To the first and second floors is a large 3 bedroom maisonette with roof terrace.
The property is situated on Regent Street, the main high street in Kingswood within close proximity to the Kings Chase Shopping Centre and with excellent transport links provided to the City Centre and A4174 Ring Road. Notable occupiers in the vicinity include Dominos and Iceland.
ACCOMMODATION (Approximate GIA Floor Areas) -
Ground Floor - 1,152 sq ft (107.0 sq m) -
Comprising a large retail unit with full width windows to the front, rear stores and toilet facilities.
First & Second Floor Maisonette - 896 sq ft (83.3 sq m) -
Comprising a lounge, kitchen/diner, bathroom, 3 bedrooms and a roof terrace.
DEVELOPMENT POTENTIAL -
The rear of the ground floor shop and extended stores offer potential for conversion to an additional self-contained flat or house, subject to obtaining the necessary planning consents. Interested parties should make their own enquiries with the local planning department.
LOCAL AUTHORITY -
South Gloucestershire Council.
The property is for sale on a freehold basis.
BUSINESS RATES -
The Rateable Value for the ground floor effective from April 2017 as per the VOA website is £11,000.
We would anticipate full rate relief would therefore be applicable to those eligible for small business relief. However interested parties are advised to make their own enquiries with the local authority to confirm.
FLOOR PLAN -
The floor plan is provided purely for indicative purposes only and should not be relied upon.
By appointment with Maggs & Allen.
ENERGY PERFORMANCE CERTIFICATES (EPCs) -
Ground Floor Shop - C (Sept 19)
Maisonette - C (Sept 19)
All figures quoted are exclusive of VAT unless otherwise stated.
CONTROL OF ASBESTOS REGULATIONS -
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.