Opportunity to purchase a commercial investment situated in a corner position on West Street, Old Market. The property is let to a bar (sole trader) at a passing rent of £15,000pa on the remainder of a 10 year lease until October 2028. The property comprises a ground floor bar area with adjoining toilet facilities and basement level providing storage. Offered for sale on a new long Leasehold basis subject to the occupational commercial lease.
DESCRIPTION -
Commercial Investment - We understand the property is let on a 10 year Full Repairing and Insuring lease recovered by way to a service charge from October 2018 to a bar (sole trader) at a passing rent of £15,000pa. Arranged as a ground floor bar area with adjoining toilet facilities. In addition there is a basement providing storage space.
LOCATION -
Situated in a corner position on West Street and Midland Road providing easy access to the M32 motorway and within close proximity to the Bristol City Centre, Cabot Circus and Temple Meads Train Station. Old Market Street is home to a variety of independent businesses and with various redevelopment projects underway is becoming an increasingly popular location.
TENURE -
To be sold on a new long Leasehold basis.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and is not to be relied upon.
ENERGY PERFORMANCE CERTIFICATE -
EPC rating: E (expires June 2029)
BUSINESS RATES -
The rateable value with effect from April 2023 is £10,800. 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.
LEGAL COSTS -
Each party to incur their own respective legal fees.
VAT -
All figures quoted are exclusive of VAT unless otherwise stated.
VIEWING -
As an actively trading business viewings are strictly by appointment with Maggs & Allen.
CONTROL OF ABSESTOS 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.
