Mixed-use Investment Opportunity in Redland

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

Key Features: • 3 Large HMO's (2x three beds and 1x four bedroom) • Industrial Units to Rear • Total Rent of £121,500pa (increasing to £125,640pa) • Redevelopment Potential.

Location: • Nearest Station: Redland Station • Distance to Station: 0.4 miles

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

Full Description: A substantial mixed-use investment property occupying a site area of approximately 0.35 acres located in the heart of Redland. The site comprises 3 large student flats (HMOs) to the front, with a number of industrial units to the rear. The site is fully let producing a gross annual rent of approximately £121,465pa (increasing to £125,640pa from July 2025) although we consider the market rent to lie in the region of £155,000pa (based on £10-£12 per ft² for the industrial premises and £750pcm per student room).The industrial units also offer potential for future residential redevelopment, subject to obtaining the necessary planning consent and vacant possession.Description - A substantial mixed-use investment property occupying a site area of approximately 0.35 acres located in the heart of Redland. The site comprises 3 large student flats (HMOs) to the front, with a number of industrial units to the rear. The site is fully let producing a gross annual rent of approximately £121,465pa (increasing to £125,640pa from July 2025) although we consider the market rent to lie in the region of £155,000pa (based on £10-£12 per ft² for the industrial premises and £750pcm per student room).The industrial units also offer potential for future residential redevelopment, subject to obtaining the necessary planning consent and vacant possession.Location - Lower Redland Road is located just off Redland Road in Redland, in a predominantly residential location.Business Rates - Luccombe Garage: Ratabble value of £23,000.Niche Renovations: Rateable Value of £3,450.Redland Bodyworks: Rateable Value of £7,100.Viewings - By appointment.Vat - All figures quoted are exclusive of VAT unless otherwise stated although we understand the site is not opted for VAT.Floor Plan - The floor plan is provided for indicative purposes only and should not be relied upon. A site plan is available on request.Energy Performance Certificate (Epc) - Rating:62a (Ground/Basement Maisonette): D (valid to April 2029)First Floor Flat: C (valid to April 2029)Top Floor Flat: E (valid to April 2029)Unit 1 - D (valid to September 2034)Unit 2 - C (valid to September 2034)Unit 3 - D (valid to September 2034)Unit 4 & 5 - E (valid to September 2034)Schedule Of Accomodation - The ground and basement maisonette is arranged as a large 4 bedroom HMO. The first and second floor flats and both arranged as separate self contained 3 bedroom HMOs.The industrial units provide the following floor areas (approximate):Unit 1 & 2: 1,287 ft²Unit 3: 450 ft²Unit 4 & 5: 4,007 ft². In addition there are approximately 16 allocated parking spaces.Tenancy Details - The three flats are let on Assured Shorthold Tenancy agreements to students for the 2024-2025 academic year at a total rent of £78,445pa which reflects a low rent of circa £650pcm per room.We understand the flats have been let for the July 2025-June 2026 academic year, as follows:Maisonette: £682.50pcm per tenantFirst Floor Flat: £710pcm per tenant.Top Floor Flat: £675pcm per tenant.The total rent for the 2025 academic year will therefore increase to £82,620pa.Commercial Lease Details - The units are let on the rents as outlined below. We understand each of the leases are granted on a 7 year internal repairing and insuring basis, which commenced in April 2023, and are subject to 3 yearly rent reviews. Unit 1 & 2: Let to Redland Body Works at £12,120pa. Unit 3: Let to Niche Renovations at £3,600pa.Unit 4 & 5: Let to Luccombe Garage at £27,300pa.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.BrochuresMixed-use Investment Opportunity in RedlandEnergy Performance CertificatesEE RatingEI Rating