Merchants Road, Hotwells, Bristol BS8 4PZ

£425,000 - For Sale

  • Mixed Use Investment
  • Ground Floor Veterinary Practice
  • HMO above
  • Fully let with potential to increase

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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

A mixed use investment property comprising a ground floor and basement Veterinary Practice with an additional and self contained 4 bedroom House of Multiple Occupancy (HMO). The commercial element is let at £9,000pa on an effectively fully repairing and insuring basis and the accommodation above is let to students at a low rent of £325pcm per room. Whilst the property is fully let producing approximately £23,300pa, we suggest that there is potential to increase this to circa £400-£450 per room, i.e a total rent in the region of £28,200 - £30,600pa. Early enquiries are recommended.

DESCRIPTION -

The property is arranged as a ground floor Veterinary Practice with additional basement storage, with a 4 bedroom House of Multiple Occupancy above. The maisonette above also provides a large kitchen/living room with 2 showers and WCs. Our client is in the process of applying for a Landlords License.

LOCATION -

The property is situated in a prominent location in Hotwells providing easy access to the Cumberland basin, Bristol City Centre and Millennium Square.

TENANCY INFORMATION: -

VETERINARY PRACTICE -

The ground and basement floors are let to Independent Vetcare Limited (Company No. 07746795) at a passing rent of £9,000pa on an effectively a fully repairing and insuring basis for a term of 5 years from October 2017. Independent Vetcare Limited are a leading veterinary service providing over 1,300 clinics and hospitals across Europe.

MAISONETTE -

The rooms are currently let on Assured Shorthold Tenancy terms for a period of 11 months at a rent of approximately £325pcm until 30/6/2020. We understand the rent includes water rates. We consider this to be a low rent and suggest there is potential to increase the rent to a figure in the region of £400-£450pcm (exclusive of bills) over a 12 month period.
Our client has made an application for a Landlords License and is awaiting an inspection.

ENERGY PERFORMANCE CERTIFICATE -

Rating:
Ground/Basement: C (May 2017)
Maisonette: E (May 2017)

VIEWINGS -

Strictly by Appointment with Maggs and Allen

TENURE -

To be confirmed.

FLOOR PLAN -

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

VAT -

All figures quoted are exclusive of VAT unless otherwise stated.

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.