GUIDE PRICE: £200,000-£225,000
A mixed-use freehold investment property arranged as a ground floor shop with a self contained 2-bedroom flat above. The property is situated in a prime position on the main shopping parade in Kingswood and benefits from excellent transport links to the city centre and Ring Road. The ground floor fishmongers is currently let producing £10,000 per annum on a 15 year lease from December 2021 and the 2-bedroom flat above is currently vacant. Once fully occupied, the property has a potential total rental income of circa £20,500 per annum.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 13 September 2022 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
FREEHOLD MIXED-USE INVESTMENT - SHOP & 2-BEDROOM FLAT CAPABLE OF PRODUCING £20,500 PA
A mid-terraced freehold investment property comprising of a ground floor retail premises (trading as Fresco Fishmarket) with a self-contained 2-bedroom flat on the first floor. The ground floor is let on a 15 year lease from December 2021 producing £10,000 per annum and the first floor flat is currently vacant. An excellent investment opportunity with a potential rent of £20,500 per annum, once the flat has been let.
The property is situated in a busy trading position on Regent Street in Kingswood, opposite the junction with Downend Road. Other notable occupiers in the vicinity include Iceland, Greggs and Barclays Bank. Excellent transport links are provided to the city centre and A4174 Ring Road.
Please refer to floorplan for approximate room measurements and internal layout.
GROUND FLOOR SHOP - Approx. 77 sq m (830 sq ft) -
Arranged to provide a primary retail area, rear shop with cold stores, a preparation area, WC and store.
FIRST FLOOR FLAT - Approx. 54 sq m ((584 sq ft) -
Accessed via an external staircase at the rear of the property, the first floor flat comprises of a spacious entrance hall with utility area, an open-plan kitchen/living room, two bedrooms and a bathroom.
LEASE DETAILS -
Ground Floor Shop: Let on a 15 year lease from December 2021 at £10,000 per annum, subject to 5 yearly rent reviews.
First Floor Flat: Currently vacant. We would anticipate a market rent in the region of £875 pcm once updated.
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE -
Ground Floor Shop: B
First Floor Flat: E
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,200 plus VAT (£1,440 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a cheque/bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,440 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.