North Street, Southville, Bristol BS3 1JH

£950,000 - Sold Subject to Contract




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An extremely rare opportunity to purchase a substantial freehold mixed-use investment property comprising a double-fronted ground floor retail unit (trading as an estate agents) with five, self-contained flats above and to the rear. The property is currently fully-let producing £56,200 per annum, which is below market level and there is scope to increase the total rents to a figure in the region of £70,300 per annum over time. The property further benefits from a pedestrian rear access via Truro Road and an enclosed communal rear garden. A superb long-term investment or potential break-up opportunity.

PRIME FREEHOLD INVESTMENT OPPORTUNITY -

* Substantial mixed-use investment.
* Comprising a double retail unit and five flats.
* Prominent position on the popular North Street.
* Current Rental Income: £56,220 PA.
* Scope to increase rental income to circa £70,300 PA.
* Potential break-up opportunity.

DESCRIPTION -

An extremely rare opportunity to purchase a substantial freehold mixed-use investment property comprising a double-fronted ground floor retail unit (trading as an estate agents) with five, self-contained flats above and to the rear. The property is currently fully-let producing £56,200 per annum, which is below market level and there is scope to increase the total rents to a figure in the region of £70,300 per annum over time. The property further benefits from a pedestrian rear access via Truro Road and an enclosed communal rear garden. A superb long-term investment or potential break-up opportunity.

ACCOMMODATION & TENANCIES -

211-213 North Street - Ground Floor Retail -

Retail Unit: 91.6 sq m (986 sq ft) Sales Area, Office, Kitchen, WC.
Term: 10 years from July 2020.
Current Rent: £1,500 PCM (£18,000 PA).
Market Rent: £2,083 PCM (£25,000 PA).

211 North Street - First Floor Flat -

1-Bedroom Flat: 39.4 sq m (424 sq ft) Double Bed, Lounge, Kitchen, Bathroom.
Term: AST.
Current Rent: £650 PCM (£7,800 PA).
Market Rent: £750 PCM (£9,000 PA).

211 North Street - Second Floor Flat -

1-Bedroom Flat: 42.5 sq m (458 sq ft) Double Bed, Lounge, Kitchen, Bathroom.
Term: AST.
Current Rent: £550 PCM (£6,600 PA).
Market Rent: £750 PCM (£9,000 PA).

213 North Street - Ground Floor Rear Flat -

Studio Flat: 16.8 sq m (179 sq ft) Bedroom/Lounge/Kitchen, Shower Room.
Term: AST.
Current Rent: £490 PCM (£5,880 PA).
Market Rent: £625 PCM (£7,500 PA).

213 North Street - First Floor Flat -

2-Bedroom Flat (unable to measure) 2 Bedrooms, Lounge, Kitchen, Bathroom.
Term: AST.
Current Rent: £770 PCM (£9,240 PA).
Market Rent: £900 PCM (£10,800 PA).

213 North Street - Second Floor Flat -

1-Bedroom Flat: 35.9 sq m (386 sq ft) Double Bed, Lounge, Kitchen, Bathroom.
Term: AST
Current Rent: £725 PCM (£8,700 PA).
Market Rent: £750 PCM (£9,000 PA).

TOTAL -

Current Rent: £56,220 per annum.
Market Rent: £70,300 per annum.

LOCATION -

The property is situated in a prominent position on the ever-popular North Street in Southvillle, Bristol. Easy access is provided to Bristol City Centre, Bristol Temple Meads train station and a wide range of local amenities.

Southville is a vibrant and laid-back residential area and cultural hub on the south bank of the River Avon. At its heart is the dynamic Tobacco Factory Theatre, staging contemporary plays in converted industrial buildings. On lively North Street can be found an eclectic mix of eateries, delis, independent shops and craft-beer bars. Attractive bay-windowed Victorian terraced houses line the nearby roads.

Other notable occupiers in the immediate vicinity include Southville Deli, Coffee 1, The Burger Joint, Co-Operative Food and The Loungers.

TENURE -

The property is offered for sale on a freehold basis, subject to the existing commercial lease and residential tenancies.

ENERGY PERFORMANCE CERTIFICATES -

Ground Floor Retail: D
First Floor Flat (211): D
Second Floor Flat (211): C
Ground Floor Flat (213): E
First Floor Flat (213): C
Second Floor Flat (213): C

VIEWING -

Strictly by appointment with Maggs & Allen.

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.

CONTACT -

Maggs & Allen Clifton Office
Tel: 0117 973 4940
Email: commercial@maggsandallen.co.uk

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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.

Floorplan for North Street, Southville, Bristol