A substantial three-storey mixed-use investment property arranged as a ground floor retail unit with a self-contained 3-bedroom maisonette above. The ground floor shop is currently vacant and the maisonette is let on an AST producing £700 pcm, which is well below market level. Situated in a prime location on East Street in Bedminster, the property presents an excellent and potentially high-yielding investment opportunity with a market rent in the region of £28,100 per annum once fully occupied.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 24 April 2025 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
FREEHOLD MIXED-USE INVESTMENT - SHOP & 3-BEDROOM MAISONETTE
DESCRIPTION -
An impressive three-storey mixed-use investment property, featuring a spacious ground-floor retail unit and a self-contained three-bedroom maisonette above. The ground-floor shop is currently vacant, while the maisonette is let on an AST at £700 pcm - significantly below market level.
Located in a sought-after position on bustling East Street, this property boasts exceptional potential for high rental yields, with an estimated market rent of approximately £28,100 per annum when fully occupied. A superb investment opportunity in an area undergoing significant redevelopment.
LOCATION -
The property is situated in a busy and prominent position on East Street, Bedminster. There is easy access to a wide range of shops, bars, restaurants and cafes. The city centre and Bristol Temple Meads train station are both within easy reach.
ACCOMMODATION -
The ground floor comprises a retail unit of approximately 667 sq ft with additional store rooms, kitchen and toilet facilities. Accessed via a two storey annexe at the rear of the building, the maisonette comprises a living room, kitchen, bathroom and three bedrooms.
Please refer to floorplan for approximate room measurements and internal layout.
TENANCY DETAILS / POTENTIAL RENTAL INCOME -
The ground floor shop is to be sold with vacant possession. the first and second floor maisonette is currently let on an AST producing £700 pcm, which is well below market level. A copy of the AST will be available in the online legal pack.
We would anticipate a market rent for the ground floor shop of circa £12,500 per annum and £1,300 pcm (£15,600 per annum) for the maisonette.
TENURE -
The property is for sale on a freehold basis, subject to the AST of the maisonette.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Ratings:
Ground Floor Shop - B / Flat - C
LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -
Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on 0117 9499000 or email lettings@maggsandallen.co.uk.
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email admin@maggsandallen.co.uk
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,500 plus VAT (£1,800 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £150,000: £5,000
£151,000 and above: £10,000
If you bid is successful, the balance of the deposit monies and Buyer’s Premium (£1,800 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you within 5 working days.
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
