FIVE STOREY BUILDING ARRANGED AS FIVE LARGE FLATS
A substantial five storey Grade II listed period building arranged as five well-presented flats (1 x 3-bedroom flat and 4 x 2-bedroom flats). There is a large garden and additional parking area to the rear that may offer potential for further development, subject to consents.
The property offers a potential rental income in excess of £90,000 per annum once the current rents have been increased and also presents a superb break-up opportunity, whereby the flats could be sold off separately.
DESCRIPTION -
A substantial and attractive five storey Grade II listed period building arranged as five well-presented flats (1 x 3-bedroom flat and 4 x 2-bedroom flats). There is a large garden and additional parking area to the rear that may offer potential for further development, subject to consents. The building has been well-maintained during its current ownership and all of the flats benefit from modern kitchens and bathrooms, gas central heating and spacious living accommodation.
The property offers a potential rental income in excess of £90,000 per annum once the current rents have been increased and also presents a superb break-up opportunity, whereby the flats could be sold off separately.
LOCATION -
The property is situated in a fantastic location within close proximity to Bristol's harbourside which has undergone a huge transformation in recent years. Easy access is provided to the City Centre, Clifton Village and a wide range of amenities on the harbourside and Wapping Wharf.
ACCOMMODATION / CURRENT RENTAL DETAILS -
BASEMENT FLAT - Approx. 72 m² (771 sq ft) -
Comprising a private entrance hall, lounge/diner, modern kitchen, three bedrooms and a bathroom with a garden to the rear.
Currently let on an AST dated 6 January 2022 at a rent of £1,300 pcm.
HALL FLOOR FLAT - Approx. 53 m² (575 sq ft) -
Comprising a lounge/diner, modern kitchen, two bedrooms and a bathroom.
Currently let on an AST dated January 2024 at a rent of £1,200 pcm.
FIRST FLOOR FLAT - Approx. 57 m² (622 sq ft) -
Comprising a lounge/diner, modern kitchen, two bedrooms and a bathroom.
Currently let on an AST dated 29 July 2022 at a rent of £950 pcm.
SECOND FLOOR FLAT - Approx. 53 m² (575 sq ft) -
Comprising a lounge/diner, modern kitchen, two bedrooms and a bathroom.
Currently let on an AST dated 30 May 2020 at a rent of £850 pcm.
TOP FLOOR FLAT - Approx. 51 m² (554 sq ft) -
Comprising an open-plan kitchen/living/dining room, two bedrooms and a bathroom.
Currently let on an AST dated 25 August 2021 at a rent of £850 pcm.
POTENTIAL RENTAL / BREAK-UP FIGURES -
All of the flats are currently under-let and we would anticipate the current market rents below along with break-up sales values:
BASEMENT FLAT: £1,800 pcm / £350,000
HALL FLOOR FLAT: £1,500 pcm / £285,000
FIRST FLOOR FLAT: £1,500 pcm / £295,000
SECOND FLOOR FLAT: £1,500 pcm / £295,000
TOP FLOOR FLAT: £1,250 pcm / £275,000
TOTAL: £90,600 Per annum / GDV: £1,500,000
ENERGY PERFORMANCE CERTIFICATES (EPCs) -
Ratings:
Basement Flat, First Floor Flat & Second Floor Flat - D
Hall Floor Flat & Top Floor Flat - E
TENURE -
The property is for sale on a freehold basis, subject to the current ASTs for each flat.
VIEWINGS -
Strictly by appointment with Maggs & Allen - 0117 973 4940
