131, High Street, Staple Hill, Bristol, BS16 5HQ

£300,000 - Sold Subject to Contract

  • Freehold Investment
  • Shop, Flat & Ground Rents
  • Gross Annual Rent of £20,600pa
  • Staple Hill High Street



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A very well presented, freehold, mixed use freehold investment property arranged as a ground floor shop with a self contained 3 bedroom flat above.

The shop is let on a new 3 year term at £10,200pa (subject to an 18 month rent review and rolling break option). The flat is let at £960pcm on an Assured Shorthold Tenancy basis. In addition the premises includes further ground rent income of £200pa, plus further service charge, for the 4 residential units to the rear of the shop which have been sold off on long leasehold interests.

The property is therefore let producing a total annual rent of £21,920pa.

Situated on the High Street, in the heart of Staple Hill, in a prominent and bustling position, early enquiries are recommended.

DESCRIPTION -

A very well presented mixed use freehold investment property arranged as a ground floor shop trading as 'American Candy Bristol', with an additional 3 bedroom first floor flat with mezzanine office.

The building was completely renovated in 2017.

The shop is let at £10,200pa on a recent 3 year term and the flat is let at £960pcm on an Assured Shorthold Tenancy basis.

There are 4 houses to the rear which have been sold off on long leasehold interests and the freehold is included in this transaction. Each property is subject to a £50pa ground rent and further management fees.

The property is therefore let producing a total annual rent of £21,920pa.

LOCATION -

Situated on the High Street in Staple Hill, close to the junction with North Street and Soundwell Road.

OUTSIDE SPACE -

The flat benefits from a private outside amenity space to the rear of the building measuring approx. 3m x 10m.

ENERGY PERFORMANCE CERTIFICATE -

Shop - D
131a - C
131b - C
131c - D
131d - C
131e - B

FLOOR PLAN -

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

VAT -

All figures quoted are exclusive of VAT unless otherwise stated.

TENURE -

Offered for sale on a freehold basis. Also included in the sale is the freehold of 4 houses to the rear which have been sold off on a long leasehold subject to an annual ground rent of £50pa per house plus further service charge.

The shop lease is in the process of being renewed for a further 3 years at a rent of £10,200pa (£850pcm), subject to a rolling tenant and landlord break option and an 18 month upwards only market rent review.
We consider this to be a low rent and would anticipate a market rent in the region of £10,800-£12,000pa.

The flat is let on an Assured Shorthold Tenancy basis at £960pcm.

NOTES -

Please note, Section 5 Notices will need to be served on the residential leaseholders to offer them first refusal, before a sale can be completed.

BUSINESS RATES -

The rateable value of the shop, with effect from April 2017, is £9,800. We would therefore expect those eligible for small business relief to benefit from nil rates at this time.

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.

Floorplan for High Street, Staple Hill, Bristol