Cheltenham Road, Montpelier, Bristol

Property Details: • Type: Commercial Development • Tenure: N/A • Floor Area: N/A

Key Features: • Commercial investment • Let at £33,500pa • Freehold • Popular location

Location: • Nearest Station: Montpelier Station • Distance to Station: 0.1 miles

Agent Information: • Address: 60 Northumbria Drive, Henleaze, Bristol, BS9 4HW

Full Description: An excellent investment opportunity comprising 2 ground floor commercial units located on Cheltenham Road. The property currently let producing £33,500pa. In addition each of the flats sold off on long leases pays a ground rent of £50pa until 31st January 2052, £75pa until 31st January 2085 and £100pa thereafter. Offered for sale on a freehold basis subject to the long leases of the flats, previously sold off.Description - An excellent Investment opportunity comprising 2 ground floor commercial units currently let producing £33,500pa. In addition each of the flats sold off on long leases pays a ground rent of £50pa until 31st January 2052, £75pa until 31st January 2085 and £100pa thereafter.Location - The property is situated in a great position on Cheltenham Road, a bustling and vibrant area known for its diverse mix of independent businesses, shops, and eateries. This high-footfall location offers excellent visibility and accessibility, making the commercial units highly desirable to tenants.Tenure - The 2 commercial units are held on a long leasehold basis but the sale is to include the freehold of the property. The 4 flats have previously been sold off on long leases.Lease Details - The commercial units are let on the following basis producing £33,500pa. One of the two commercial units is let on a long lease. The lease has expired on the other commercial unit and the tenants are “holding over”. In addition each of the 4 flat owners pay a ground rent of £50pa until 31st January 2052, £75pa until 31st January 2085 and £100pa thereafter. Two of the flats have 87 years left on their leases the other two of the flats are held on the residue of 999 year leases.Unit 1 - Aid Box Community - Let at £16,000pa. Currently holding over from July 2024, we understand that they do not plan to renew. We would suggest the market rent to align with the adjoining unit at £17,500pa.Unit 2 - Papa Johns - Let at £17,500pa on the remainder of a 15 year lease from October 2013.Business Rates - The rateable value with effect from April 2023 for each unit is as follows:Unit 1 - £13,250 Unit 2 - £14,000Energy Performance Certificate (Epc) - Unit 1 - C (valid until March 2032)Unit 2 - D (valid until March 2032)Floor Plan - The floor plan is provided for indicative purposes only and should not be relied upon.Vat - All figures quoted are exclusive of VAT unless otherwise stated.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.BrochuresCheltenham Road, Montpelier, Bristol