A stunning Grade II mixed-use investment property situated in a popular and central location in Stokes Croft. The property has been extensively refurbished to create a ground floor studio, with a stunning 2 bedroom maisonette above. The ground floor is let at £12,000pa and the flat at £1,400pcm, i.e a total gross annual rent of £28,800pa.
In addition, there is a parcel of land to the rear which benefits from full planning consent for a 3 storey house, which is available by separate negotiation.
DESCRIPTION -
A stunning Grade II mixed-use investment property situated in a popular and central location in Stokes Croft. The property has been extensively refurbished to create a ground floor studio, with a stunning 2 bedroom maisonette above. The ground floor is let at £12,000pa and the flat at £1,400pcm, i.e a total gross annual rent of £28,800pa.
In addition, there is a parcel of land to the rear which benefits from full planning consent for a 3 storey house, which is available by separate negotiation.
LOCATION -
The property is situated in a highly desirable trading position in Stokes Croft, opposite The Carriage Works Development.
LAND TO REAR -
To the rear of the site is a parcel of land which benefits from full planning consent for a 1 bedroom three storey house. This is available by separate negotiation at £150,000.
TENURE -
Offered for sale on a freehold basis subject to the tenancy details below.
Please note, the maisonette is known as The Flat, 3 Armada Place.
TENANCY DETAILS -
SHOP -
The shop is let to Studio Floc Limited on a 5 year term from January 2022 subject to a tenant break in January 2025, and is subject to a passing rent of £12,000pa plus service charge. The lease is drafted on an internal repairing and insuring basis plus service charge.
MAISONETTE -
We understand the maisonette is let on a 12 month Assured Shorthold Tenancy basis at £1,400pcm and is due for renewal in the Summer of 2024.
VIEWINGS -
By appointment.
BUSINESS RATES/COUNCIL TAX -
Ground Floor: The Rateable Value with effect from April 2023 is £11,000.
Maisonette: Council Tax Band B
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating: D (expires September 2030)
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.
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.
