SOLD FOR £581,000 - A substantial detached office building occupying a generous plot pf approximately 0.69 acres. The property is currently arranged as six separate office suites capable of producing a gross rental income of circa £51,875 PA (one suite currently vacant). The property also offers excellent potential for conversion into a substantial detached residence, subject to consents. Approached via a dual entrance driveway, the property benefits from a generous car park and a raised garden area to the rear. A superb investment/development opportunity situated in a delightful semi-rural location in Clapton-in-Gordano.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 27 April 2023 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SOLD FOR £581,000 - FREEHOLD DETACHED OFFICE INVESTMENT WITH POTENTIAL FOR RESIDENTIAL CONVERSION
DESCRIPTION -
A substantial detached office building occupying a generous plot pf approximately 0.69 acres. The property is currently arranged as six separate office suites capable of producing a gross rental income of circa £51,875 PA (one suite currently vacant). The property also offers excellent potential for conversion into a substantial detached residence, subject to consents. Approached via a dual entrance driveway, the property benefits from a generous car park and a raised garden area to the rear. A superb investment/development opportunity situated in a delightful semi-rural location in Clapton-in-Gordano.
LOCATION -
The property commands an unrivalled position in Clapton-in-Gordano, within a mile of the A369, which provides direct access to the M5 at Junction 19. The site benefits from stunning views across the Severn Vale towards the Bristol Channel and Portishead. Easy access is provided to a wide range of amenities in Portishead, Clifton and Bristol City Centre.
ACCOMMODATION SCHEDULE/LEASE DETAILS -
All of the office suites are let on licence agreements on an internal repairing basis inclusive of service charge but excluding electricity. The rent includes general maintenance to the building, cleaning of the communal areas and landlord's electric and water.
GROUND FLOOR -
SUITE 1 - Approx. 240 sq ft (22.3 m²) -
Let to Berry Geomatics Ltd at £5,015 per annum - currently holding over.
SUITE 2 - Approx. 470 sq ft (43.6 m²) -
Currently vacant but available to rent at £9,000 per annum.
SUITE 3 - Approx. 615 sq ft (57.1 m²) -
Let to Inacoustic Ltd at £10,620 per annum - licence expires 8 December 2023.
SUITE 4 - Approx. 250 sq ft (23.2 m²) -
Let to PH Sports Coaching Ltd at £4,500 per annum.
FIRST FLOOR -
SUITE 5 - Approx. 235 sq ft (21.9 m²) -
Let to VJ Sports Ltd at £4,740 per annum - licence expires 14 June 2024
SUITE 6 & 7 - Approx. 1,310 sq ft (121.7 m²) -
Let to Money Release Ltd at £18,000 per annum - licence expires 10 April 2024.
REDEVELOPMENT POTENTIAL -
The property offers potential for conversion into an impressive detached home, subject to consents and obtaining vacant possession. James Dexter of Dexter Building Design comments:
“The planning merits of the site are that although it is in a greenbelt location, the site is not greenfield having been already developed land and is surrounded by residential properties. The current building has sufficient volume to be converted to a generously proportioned 4/5-bed grand designs style pad nestled into a semi-rural location. There are plenty of successful applications in the locality of change of use from offices to dwelling house, which back-up the planning position in the case of the subject property.”
TENURE -
The property is to be sold on a freehold basis, subject to the licence agreements above. Please refer to the legal pack for further details.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE -
Rating: C
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 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.
