Mixed use freehold investment opportunity.
A fully let mixed use property comprising a ground floor retail unit with basement storage, a self-contained maisonette above, and a rear workshop. The property generates a total rental income of £34,200pa. The rear workshop offers scope for conversion to residential use, subject to the necessary consents, providing potential for future value uplift. Offered for sale freehold, subject to existing occupational tenancies.
DESCRIPTION -
Mixed use freehold investment opportunity.
A fully let mixed use property comprising a ground floor retail unit with basement storage, a self-contained maisonette above, and a rear workshop. The property generates a total rental income of £34,200pa. The rear workshop offers scope for conversion to residential use, subject to the necessary consents, providing potential for future value uplift. Offered for sale freehold, subject to existing occupational tenancies.
LOCATION -
The property enjoys a prominent position within a vibrant and well established mixed use parade on St. Peter’s Rise, Headley Park, Bristol. Located at the junction with Bishopsworth Road, the premises benefit from high visibility, making it an attractive location for both commercial and residential occupiers.
TENURE -
Understood to be freehold.
TENANCY DETAILS -
The property is fully let producing £34,200pa on the following basis:
Shop - £12,000pa (7 year term from February 2025, upwards only rent review and tenant break clause, year 3)
Flat - £18,000pa (subject to an annual review)
Workshop - £4,200pa (7 year term from February 2025, upwards only rent review and tenant break clause, year 3)
BUSINESS RATES -
The rateable value with effect from April 2023 is £7,200. We therefore would expect those eligible for small business relief to benefit from 100% exemption at this time. However, we advise all interested parties to confirm directly with the local authority.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
EPC ratings:
Shop & Basement - C (valid until July 2034)
Maisonette - E (valid unit February 2035) Recommended works from assessor to improve to a C rating: 1. Dual meter electricity and one heater. 2. Dual immersion tank.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
VAT -
We understand the property is not elected for VAT.
VIEWINGS -
By appointment with Maggs & Allen.
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.
