Property Details: • Type: 660 sq ft • Tenure: N/A • Floor Area: N/A
Key Features: • Mixed Commercial/Residentail Investment • Affluent Redland Area • Self-Contained upper parts
Location: • Nearest Station: Redland Station • Distance to Station: 0.2 miles
Agent Information: • Address: The Coach House, Hurle Road, Clifton, Bristol, BS8 2SY
Full Description: LOCATION
Bristol is the 5th largest conurbation in the UK and capital of the South West, situated approximately 120 miles West of London, 88 miles South of Birmingham and 78 miles North of Exeter.
Excellent road communications are provided with the M5/M4 motorway interchange situated 5 miles North of the City Centre. The M32 motorway provides a fast link from the City Centre to Junction 19 of the M4, 5.5 miles to the North East. The M48 and M49 motorways give access to South Wales via both Severn crossings.
SITUATION
Situated in the heart of Redland on Chandos Road, this location serves the densely populated and affluent residential areas of Redland, Cotham, and Clifton.
Chandos Road is known for its eclectic mix of businesses, ranging from boutique shops, essential services and gourmet restaurants, making it a bustling hub of activity and a popular destination for local residents including families, young professionals and students.
DESCRIPTION
The property comprises a ground floor unit totalling 660 sq ft (61.36 sq m) with separately accessed residential maisonette above. The current tenant uses the property as a restaurant with the sales area arranged as seating and bar area with WC's. Toward the rear is a kitchen and with storage to the rear.
AREAS
The shop unit has the following approximate net internal floor areas:
TENURE
The property is held freehold.
TENANCY
The property is held on a 20 year lease from 20th September 2022,with tenant only break options on the 4th, 8th and 12th anniversary of the lease and rent reviews on the 5th, 10th and 15th anniversary of the lease. The current passing rent is £19,000 per annum exclusive.
PROPOSAL
We are seeking offers in offers in the region of which would show a net initial yield of excess of £350,000 (three hundred and fifty thousand pounds) which shows a net initial yield of approximately 5.23% after purchasers costs of 3.80%.
VAT
We understand that VAT is not chargeable.
BUSINESS RATES
Rateable Value: £13,600.
Rates Payable (2023/24) 49.9p in the £
Council Tax (Residential) - Band B
Interested parties should make their own enquiries to the Local Billing Authority.
EPC
EPC Rating - C
LEGAL COSTS
Each party is to be responsible for their own legal costs.
ANTI-MONEY LAUNDERING
In accordance with Anti-Money Laundering Regulations, evidence of identity and source of funding will be required from the successful purchaser prior to instructing solicitors.
VIEWING
For further information or to arrange a viewing, please contact the sole agents:
Steve Cullis - or