North Street, Bedminster, Bristol BS3 1EN

£795,000 - For Sale

  • Let at £62,000pa*
  • North Street, Bedminster
  • 2 Commercial Units
  • 3 Bedroom Maisonette
  • Studio Flat

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 substantial mixed-use freehold investment property situated in a highly sought after location in North Street, Bedminster within close proximity to The North Street Standard and The Old Bookshop. The ground floor provides a a recently refurbished Deli/Wine Bar, let on a 7 year term at £25,000pa, and a retail unit let to Photographique on a new 5 year term at £13,000pa The upper parts provide a modern 3 bedroom maisonette (anticipated rent of £1200pcm), and further 1 bedroom flat let at £800pcm. i.e a total passing rent of £62,000pa

DESCRIPTION -

A mixed-use investment property comprising an extended ground floor deli/wine bar of approx. 950 sq ft, which has recently been been refurbished, with additional large beer garden to the rear.

In addition there is a further retail unit of approx. 390 sq ft with first floor rear offices of circa 300 sq ft (gross areas).

The upper parts are provide a self contained three bedroom maisonette with potential to redevelop into two flats, subject to consents, and a further first floor one bedroom flat which also offers potential for conversion of the loft space subject to consents. We understand both flats were fully refurbished in 2016 including rewiring, new heating, new kitchens and shower rooms and LED lighting.

The site offers potential for further development/conversion of the offices (subject to the tenant vacating and necessary consents). To be sold fully let producing £62,000pa.

LOCATION -

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.

FLOOR PLAN -

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

VIEWING -

Strictly by appointment with Maggs and Allen only

TENURE -

Offered for sale on a freehold basis subject to the occupational tenancies.

VAT -

All figures quoted are exclusive of vat unless otherwise stated.

LEASE DETAILS -

The property is let on the following basis:

51 NORTH STREET - Deli/Wine Bar -

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.

53 NORTH STREET - Photographique -

Our client operates the business and will be taking a leaseback on the shop and rear offices on a new 5 year internal repairing and insuring term subject to a passing rent of £13,000pa. We understand Photographique was established in 2008 and has traded successfully throughout the COVID-19 lock-down.

51 NORTH STREET - MAISONETTE -

The maisonette was until recently, let to the tenants of 51 North Street. However, they are in the process of vacating and our client expects to re-let the accommodation on a conventional Assured Shorthold Tenancy basis at a rent of £1,200pcm.
Please contact the office for the current position.

53 NORTH STREET - FIRST FLOOR FLAT -

Let on a conventional Assured Shorthold Tenancy at £800pcm.

ENERGY PERFORMANCE CERTIFICATE -

51 North Street: C Jan 2012
51a Maisonette: D Sep 2016
53 North Street: D Feb 2014
53a Flat: E Feb 2014

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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.