An attractive Grade II listed four storey building with additional basement level, situated off a quiet courtyard in the heart of Bristol City Centre. The property was previously used as offices but is now arranged as a House of Multiple Occupancy (HMO). The property is currently arranged to provide 6 lettable rooms plus an additional basement that could be rented for storage. Planning and listed building consent was granted for a change of use from offices to a 7-bedroom HMO in October 2014 so there is scope to increase the number of bedrooms, subject to consents. A superb opportunity for developers and HMO investors with a potential rental income of circa £58,800 per annum (plus additional income for the basement storage) if the previously approved planning consent for 7-bedrooms can be reinstated and implemented. The property is currently partially let producing £33,000 per annum.
The property is situated on All Saints Court, a pedestrian lane with access from Corn Street and High Street. This convenient City Centre location provides easy access to the prime shopping areas of Broadmead and Cabot Circus and also provides easy access to Bristol Temple Mead Railway Station.
The ground floor of the property comprises of an entrance hall, reception with rear store room, a kitchen, stairs to the first floor and also stairs to the basement store rooms. The first floor comprises a large bedroom and a WC. The second floor provides three further bedrooms and a WC and the third floor consists of two further bedrooms and a bathroom.
The property previously benefited from planning and listed building consent for a change of use from Use Class A2 (Financial Professional Services) to Use Class C4 (House in multiple occupation). This consent was granted under application numbers 14/03457/F and 14/03458/LA in October 2014.
RENTAL POTENTIAL -
If the planning and listed building consent is reinstated and the HMO conversion works are carried out to provide 7 bedrooms, we would anticipate a market rent in the region of £700 per calendar month per room. This would equate to a gross annual income of circa £58,800 plus any additional income for the basement storage space.
CURRENT RENTAL DETAILS -
Five of the rooms are currently let on ASTs producing a total annual income of £33,000 (£450pcm - £600pcm per room). These tenancy agreements run until February 2022 and the property can either be sold with tenants in situ or with vacant possession, if required.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Energy Rating: D
Freehold (information supplied by eservices.landregistry.gov.uk
LOCAL AUTHORITY -
Bristol City Council.
By appointment only
CONTACT US -
0117 973 4940
IMPORTANT NOTICE -
This information was provided at the time of instruction and may be incorrect or liable to change. Please contact the office to confirm any details.
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.