A substantial mixed use investment property occupying a prominent corner position and comprising a large lower ground floor bakery (circa 4,300 ft²), a generous ground floor restaurant and 6 self-contained one-bedroom flats.
The property is currently under-let and offers potential to produce a gross annual rent of circa £137,000 per annum. The bakery element also offers potential for residential redevelopment, subject to obtaining the necessary consents.
A superb investment opportunity in a prime location in Montpelier with great scope to increase the rental return and develop the site further in the future.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on the 26th June 2025 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SUBSTANTIAL MIXED-USE INVESTMENT PROPERTY WITH DEVELOPMENT POTENTIAL.
DESCRIPTION -
Occupying a highly visible corner position in one of Montpelier’s most sought-after locations, this substantial mixed-use property presents an exceptional investment opportunity with significant scope for increased rental returns and future redevelopment. The property is currently arranged to provide:
- A spacious lower ground floor bakery (approx. 4,300 sq ft)
- A generous ground floor restaurant
- 6 x well-presented one-bedroom flats
Currently under-let, the property has the potential to generate an income of approximately £137,000 per annum if rents are increased to market levels. The bakery element, situated on the lower ground floor and rear of the site, also offers potential for residential redevelopment, subject to obtaining the necessary consents.
LOCATION -
The property is situated in a highly desirable residential location in Montpelier, on the junction of York Road and Wellington Avenue. Easy access is provided to a wide range of amenities on Picton Street and Bristol city centre.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout. The floor plans are provided for indicative purposes only and should not be relied upon.
TENANCY DETAILS -
Bakery -
The bakery is trading as 'Herbert's Bakery' and is let on a 10 year term from August 2007 at the initial rent of £20,000 per annum - the tenants are currently holding over. A renewal was discussed in 2017 and a lease was drafted for a further 10 years although we understand this was not completed.
Restaurant -
The restaurant is trading as 'Thali Cafe' and is let on a 10 year lease which commenced on the 16th July 2020. The passing rent is £16,300 per annum and a rent review is due in July 2025.
Flats -
We understand the flats are all let on Assured Shorthold Tenancy Agreements at the following rents:
12A - £875pcm
12B - £850pcm
14A - £600pcm
14B - £850pcm
16A - TBC
16B - TBC
However, we consider the market rent for each flat to lie in the region of £1,100pcm.
TENURE -
The property is offered for sale on a freehold basis, subject to the occupational tenancies noted above.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE (EPC) RATINGS -
Thali Cafe - C / Herbert's Bakery - TBC / Flat 12A - E / Flat 12B - D / Flat 14A - TBC / Flat 14B - E / Flat 16A - E / Flat 16B - C
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.
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.
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.
