A mixed-use investment property comprising an extended ground floor bar of approx. 950 sq ft, which has recently been been refurbished, with additional large beer garden to the rear. The upper parts are currently arranged to provide a self contained three bedroom maisonette and offers potential to redevelop into two flats, or convert to an office, subject to obtaining the necessary consents. The bar is let on a long term lease subject to a rent of £25,000 pa and the flat is let on an Assured Shorthold Tenancy basis.
Whilst the current annual rent is £37,000 pa, we suggest a market rent in the region of £41,200pa.
The property is situated in a highly sought after location on North Street, Bedminster. Notable neighbouring occupiers include The North Street Standard and The Old Bookshop.
The property is let on the following basis:
Let to Really Good Wine Bars Limited on a 7 year internal repairing and insuring term from 7th August 2019 at £25,000pa subject to a tenant only 4 year break option and rent review. The tenant has provided 3 months deposit and paid the first years rent in advance.
The maisonette is currently let to the bar tenants at a discounted rent of £1,000pcm on a conventional Assured Shorthold Tenancy agreement until 31st July 2020. We would suggest a market rent of circa £1,350pcm on the basis it is let to three sharers.
Offered for sale on a freehold basis subject to the occupational tenancies.
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.
Strictly by appointment with Maggs and Allen only
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 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.