High Street, Portishead, Bristol BS20 6EN

£475,000 - For Sale

  • Mixed-Use Investment
  • Portishead High Street
  • Shop & 2 Flats
  • Potential Rent of circa £33,600pa.

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 rare opportunity to acquire this attractive, period, freehold mixed-use investment property situated on the High Street in Portishead. The ground floor is arranged as a large shop let to a travel agents at £18,000 pa and the first floor provides 2 self contained one bedroom flats. The flats are currently underlet but the property offers the potential to produce a gross annual rent of approximately £33,600pa.

DESCRIPTION -

A period semi detached, two storey mixed-use property comprising a large ground floor shop of just over 1,000 sq ft (GIA) with 2 self contained one bedroom flats above. The shop is let at £18,000pa and whilst the flats are currently let at below market rents of £400pcm each, we suggest a market rent in the region of £650pcm each.

LOCATION -

The property is situated in a busy position on the High Street in Portishead. Notable neighbouring occupiers include Iceland, HSBC and Dominos. Portishead is a popular coastal town benefiting from a modern marina conveniently located just off the M5 providing easy access to Bristol and the South West.

FLOOR PLAN -

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

LEASE INFORMATION -

The property is let on the following basis:

SHOP -

The shop is let to The Original Travel House Limited for a term of 6 years from 24th June 2017, on an internal repairing and insuring term £18,000pa. The Original Travel House Limited were incorporated in September 2001 and for the year ending September 2018 reported a turnover of £2.6m and a profit of £304,134,000.

FLATS -

We understand both flats are currently let at £400pcm on conventional Assured Shorthold Tenancy agreements. This is below the market rent and we would anticipate a rent in the region of £650pcm per flat.

EPC -

Ratings:

Shop: D (Oct 2019)
32a Flat - F (Oct 2019)
32b Flat - F (Oct 2019)

VAT -

All figures quoted are exclusive of vat unless otherwise stated.

BUSINESS RATES -

The rateable value with effect from April 2017 is £16,250.

VIEWINGS -

Strictly by appointment with Maggs and Allen only

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 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.