Bath Road, Arnos Vale, Bristol BS4 3EU

£825,000 - Sold Subject to Contract




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An exciting freehold redevelopment opportunity comprising four adjoining mixed-use properties on the Bath Road in Arnos Vale. The ground floor of the properties is currently arranged as a substantial motorcycle showroom with an attached repairs workshop to the rear. The first floor is arranged as four self-contained flats (2 x 2-bedroom flats and 2 x 1-bedroom flats) that are accessed via a rear lane. Two of the first floor flats are presented in good decorative order and the remaining two flats would benefit from modernisation.

DESCRIPTION -

An exciting freehold redevelopment opportunity comprising four adjoining mixed-use properties on the Bath Road in Arnos Vale. The ground floor of the properties is currently arranged as a substantial motorcycle showroom with an attached repairs workshop to the rear. The first floor is arranged as four self-contained flats (2 x 2-bedroom flats and 2 x 1-bedroom flats) that are accessed via a rear lane. Two of the first floor flats are presented in good decorative order and the remaining two flats would benefit from modernisation.

Full planning consent has been granted for the conversion of the ground floor showroom/workshop into a further six self-contained 2-bedroom flats with associated cycle and bin storage. The existing ground floor showroom and workshop benefit from vehicular access from Bath Road with a dropped kerb, a huge benefit for the purposes of carrying out the proposed conversion. This is a superb opportunity for developers to create a unique residential development of ten flats in total. Alternatively, the property could be retained as a mixed-use investment property with a potential annual income in the region of £65,000 - £75,000.

LOCATION -

The property is situated in a prominent position on the A4 Bath Road opposite Arnos Vale Cemetery and just 300m from Paintworks Creative Hub. Excellent transport links are provided to Bristol City Centre and Bristol Temple Meads train station whilst a wide range of local amenities are available on the nearby Sandy Park Road.

PLANNING -

Full planning consent was granted under Application No. 20/02203/F for the conversion of the ground floor showroom/workshop into 6 x 2-bedroom residential apartments on 2 November 2020.

LOCAL AUTHORITY -

Bristol City Council.

ACCOMMODATION -

379-385 BATH ROAD (GROUND FLOOR) -

Motorcycle Showroom & Rear Workshop

APPROXIMATE FLOOR AREA -

5,263 sq ft (489 sq m

CURRENT RENT -

VACANT

379 BATH ROAD (FFF) -

Lounge, Diner, Kitchen, Shower Room and 2 Bedrooms.

APPROXIMATE FLOOR AREA -

TBC

CURRENT RENT -

£700 pcm

381 BATH ROOM (FFF) -

Lounge, Kitchen, Bedroom and Bathroom.

APPROXIMATE FLOOR AREA -

TBC

CURRENT RENT -

£645 pcm

383 BATH ROAD (FFF) -

Lounge, Kitchen, Bedroom and Bathroom.

APPROXIMATE FLOOR AREA -

TBC

CURRENT RENT -

£525 pcm

385 BATH ROAD (FFF) -

Lounge/Diner, Kitchen, Shower Room and 2 Bedrooms.

APPROXIMATE FLOOR AREA -

TBC

CURRENT RENT -

£545 pcm

GROSS DEVELOPMENT VALUE (GDV) -

Following the conversion of the ground floor commercial premises and refurbishment of two of the existing flats, we would anticipate a GDV in the region of £1,750,000.

POTENTIAL RENTAL INCOME -

Following completion of the conversion/refurbishment works we would anticipate market rents of £950pcm for the 2-bedroom flats and £750pcm for the 1-bedroom flats equating to a total annual income of £109,200.

ENERGY PERFORMANCE CERTIFICATES (EPCs) -

Energy Rating: TBC

TENURE -

The property is to be sold on a freehold basis subject to the existing Assured Shorthold Tenancy agreements of the existing
first floor flats. The ground floor commercial premises will be sold with vacant possession.

BUSINESS RATES -

The Rateable Values effective 1 April 2017 are:
379-381 Bath Road: £28,500.
385 Bath Road: £2,950.

VIEWING -

Strictly by appointment with Maggs & Allen.

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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.