62, Lower Redland Road, Bristol, BS6 6SS

Guide Price £1,800,000 - For Sale

  • 3 Large HMO's (2x three beds and 1x four bedroom)
  • Industrial Units to Rear
  • Fully Let Producing approx. £123,000pa
  • Potential Rent of circa £155,000pa.
  • Redevelopment Potential.



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A substantial mixed-use investment property occupying a site area of approximately 0.35 acres located in the heart of Redland. The site comprises 3 large student flats (HMOs) to the front, with a number of industrial units to the rear. The site is fully let producing a gross annual rent of approximately £123,000pa although we consider all parts to be underlet and consider the market rent to lie in the region of £155,000pa (based on £10-£12 per ft² for the industrial premises and £750pcm per student room).

The industrial units also offer potential for future residential redevelopment, subject to obtaining the necessary planning consent and vacant possession.

DESCRIPTION -

A substantial mixed-use investment property occupying a site area of approximately 0.35 acres located in the heart of Redland. The site comprises 3 large student flats (HMOs) to the front, with a number of industrial units to the rear. The site is fully let producing a gross annual rent of approximately £123,000pa although we consider all parts to be underlet and consider the market rent to lie in the region of £155,000pa (based on £10-£12 per ft² for the industrial premises and £750pcm per student room).

The industrial units also offer potential for future residential redevelopment, subject to obtaining the necessary planning consent and vacant possession.

LOCATION -

Lower Redland Road is located just off Redland Road in Redland, in a predominantly residential location.

BUSINESS RATES -

Luccombe Garage: Ratabble value of £23,000.
Niche Renovations: Rateable Value of £3,450.
Redland Bodyworks: Rateable Value of £7,100.

VIEWINGS -

By appointment.

VAT -

All figures quoted are exclusive of VAT unless otherwise stated although we understand the site is not opted for VAT.

FLOOR PLAN -

The floor plan is provided for indicative purposes only and should not be relied upon. A site plan is available on request.

ENERGY PERFORMANCE CERTIFICATE (EPC) -

Rating:
62a (Ground/Basement Maisonette): D (valid to April 2029)
First Floor Flat: C (valid to April 2029)
Top Floor Flat: E (valid to April 2029)

Unit 1 - D (valid to September 2034)
Unit 2 - C (valid to September 2034)
Unit 3 - D (valid to September 2034)
Unit 4 & 5 - E (valid to September 2034)

SCHEDULE OF ACCOMODATION -

The ground and basement maisonette is arranged as a large 4 bedroom HMO. The first and second floor flats and both arranged as separate self contained 3 bedroom HMOs.

The industrial units provide the following floor areas (approximate):
Unit 1 & 2: 1,287 ft²
Unit 3: 450 ft²
Unit 4 & 5: 4,007 ft².
In addition there are approximately 16 allocated parking spaces.

TENANCY DETAILS -

The three flats are let on Assured Shorthold Tenancy agreements to students for the 2024-2025 academic year at a total rent of £78,445pa which reflects a low rent of circa £650pcm per room.

COMMERCIAL LEASE DETAILS -

The units are let on the rents as outlined below. We understand each of the leases are granted on a 7 year internal repairing and insuring basis, which commenced in April 2023, and are subject to 3 yearly rent reviews.

Unit 1 & 2: Let to Redland Body Works at £12,120pa.
Unit 3: Let to Niche Renovations at £3,600pa.
Unit 4 & 5: Let to Luccombe Garage at £27,300pa.

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 Mixed-use Investment Opportunity in Redland
EPC Graph for Mixed-use Investment Opportunity in Redland