Prime Freehold Mixed-Use Investment Opportunity on Portishead High Street
A freehold mixed-use investment property, situated in a prominent position on Portishead High Street. The ground floor provides a double-fronted retail unit of approximately 676 sq ft, whilst the first floor comprises a spacious two-bedroom flat in need of updating with its own private entrance at the side of the building. To the rear of the building is a garden, garage and storage container. For sale with vacant possession, the property presents a superb opportunity for investors and owner occupiers.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on XXX at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
DESCRIPTION -
Occupying a prominent High Street position in the heart of Portishead, this freehold mixed-use property presents a superb investment opportunity.
The ground floor features a well-proportioned, double-fronted retail unit of approximately 676 sq ft - ideal for a variety of commercial uses in a high footfall location. Above is a spacious two-bedroom flat with a private side entrance that offers excellent scope for refurbishment and strong rental returns. To the rear, the property benefits from a garden, garage, and additional storage container.
Offered with vacant possession, this versatile property is perfectly suited for investors with a potential rental income in excess of £34,000 PA, or for owner-occupiers looking to combine business and living space in a thriving coastal town.
LOCATION -
The property is situated in a prime position on the thriving Portishead High Street. Other notable commercial occupiers in the vicinity include Impero Lounge, Coffee #1, Boots and Greggs. Portishead Marina is also within easy reach.
ACCOMMODATION -
GROUND FLOOR SHOP (Approx. 676 ft²) - Comprising a main sales area, rear sales area, store room, kitchen and WC.
FIRST FLOOR FLAT (Approx. 734 ft²) - Comprising an entrance hall, living room, two bedrooms, kitchen, utility room and bathroom.
Please refer to floorplan for approximate room measurements and internal layout.
POTENTIAL RENTAL INCOME -
Following the refurbishment of the first floor flat, we would anticipate the following rental income:
Ground Floor Shop - £20,000 Per Annum
First Floor Flat - £1,200 Per Calendar Month (£14,400 Per Annum)
TOTAL: £34,400 Per Annum
SITE PLAN -
The site plan is provided for indicative purposes only, please refer to the title plan within the legal pack for confirmation of the site boundaries.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
TENURE -
The property is offered for sale on a freehold basis with vacant possession.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating:
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email admin@maggsandallen.co.uk
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,800 plus VAT (£2,160 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 is £5,000.
If you bid is successful, the balance of the deposit monies and Buyer’s Premium (£1,800 plus 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 within 5 working days.
LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -
Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on 0117 9499000 or email lettings@maggsandallen.co.uk.
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
