A rare opportunity to acquire a mixed use freehold investment property in Henleaze Road. The property comprises an extended ground floor shop of approx. 970 sq ft with a self contained 3-4 bedroom maisonette above.
The ground floor is well presented and let until April 2022 to St Monica's trust at £19,000pa although we consider the market rent to be in the region of £22,000pa.
The maisonette is let on an Assured Shorthold Tenancy at £1,375 pcm, but subject to some improvements/reconfiguration, we consider the flat rent lies in the region of £2,000pcm. The property is therefore currently let at £35,500pa but offers potential to increase to circa £46,000pa.
DESCRIPTION -
A freehold mixed use investment property on Henleaze Road, within close proximity of The Durdham Downs and Waitrose Supermarket. The property would make for an ideal investment in a location where freeholds rarely become available, and would also suit owner occupation. The maisonette is spacious but would benefit from some modernisation/reconfiguration in order to maximise the rental return.
LOCATION -
Situated in a prime location on Henleaze Road close to the junction with Cavendish Road. Neighbouring operators include Boots Pharmacy, The Co-operative Covenience Store, Costa Coffe, Cafe 96 and various other local independent retailers.
TENANCY DETAILS -
SHOP
The shop is to St Moncia's Trust on an effectively fully repairing and insuring basis until April 2022, at a current passing rent of £19,000pa.
We consider the market rent of the shop to be in the region of £22,000pa.
MAISONETTE
Currently let on a 12 month Assured Shorthold Tenancy at £1,375pcm until 1th June 2022.
We consider this to be low and subject to some improvements to the flat, we would anticipate a rent of circa £500pcm per room exclusive of bills, i.e £24,000pa.
SHOP -
The shop is to St Moncia's Trust on an effectively fully repairing and insuring basis until April 2022, at a current passing rent of £19,000pa. We consider the market rent of the shop to be in the region of £22,000pa.
MAISONETTE -
Currently let on a 12 month Assured Shorthold Tenancy at £1,375pcm until 1th June 2022.
We consider this to be low and subject to some improvements to the flat, we would anticipate a rent of circa £500pcm per room exclusive of bills, i.e £24,000pa.
ENERGY PERFORMANCE CERTIFICATE -
Ratings:
Ground Floor Shop: D
Maisonette: D
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
VIEWINGS -
Strictly by Appointment with Maggs and Allen.
CONTROL OF ASBESTOS REGULATIONS -
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.
