SUBSTANTIAL FREEHOLD MIXED-USE INVESTMENT - FULLY-LET PRODUCING £70,400 PA
A prime freehold investment opportunity comprising a triple-fronted ground floor retail space with two well-presented two-bedroom flats above. The ground floor shop is currently leased to South Western Tool Supplies Limited on a 10-year lease, with an annual rent of £35,000 following a recent rent review in February 2024. The property also offers convenient rear parking.
Both flats are in excellent condition, boasting modern kitchens, double bedrooms, and private outdoor terraces. The two flats are let on Assured Shorthold Tenancy agreements producing £1,450 pcm and £1,500 pcm respectively.
This is an ideal opportunity for investors seeking a solid income-generating property in a desirable location.
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 -
SOLD PRIOR - SUBSTANTIAL MIXED-USE INVESTMENT PROPERTY - TRIPLE FRONTED SHOP AND TWO FLATS
DESCRIPTION -
This excellent freehold investment opportunity features a triple-fronted ground floor shop with two well-presented two-bedroom flats above. The ground floor shop benefits from rear parking and is leased to South Western Tool Supplies Limited on a 10-year term, let at £35,000 per annum following a rent review in February 2024. Both flats are in excellent condition benefiting from modern kitchens, double bedrooms and each with an outside terrace. The two flats are let on Assured Shorthold Tenancy agreements producing £1,450 pcm and £1,500 pcm respectively equating to a total annual income from the building of £70,400 per annum.
LOCATION -
The property enjoys a prime position on Filton Road in a vibrant and bustling area. Its strategic location benefits from high footfall, driven by local residents, shoppers, and commuters, ensuring excellent visibility and accessibility. Rental demand for the flats is excellent with a number of large employers including Southmead Hospital, Airbus and Rolls Royce all being within easy each.
ACCOMMODATION -
RETAIL UNITS (APPROX. 3,643 FT²) - A large, triple-fronted shop with an office, store rooms, workshop, kitchen and toilet facilities.
FLAT 84A (Approx. 66 m²) - Comprising two double bedrooms, kitchen/diner, living room, bathroom and roof terrace.
FLAT 86A (Approx. 64 m²) - Comprising two double bedrooms, kitchen/diner, living room, bathroom, shower room and roof terrace.
Please refer to floorplan for approximate room measurements and internal layout.
LEASE/TENANCY DETAILS -
GROUND FLOOR SHOPS:
Rental Income: £35,000pa
Tenants: South Western Tool Supplies Limited
Tenancy Start Date: 05/02/2019
Tenancy Length: 10 years
FLAT 84A:
Rental Income: £1,450pcm (£17,400pa)
Tenancy Start Date: 02/08/2024
Tenancy Length: 12 months
FLAT 86A:
Rental Income: £1,500pcm (£18,000pa)
Tenancy Start Date: xx/05/2024
Tenancy Length:
TENURE -
The property is to be sold on a freehold basis, subject to the commercial lease and ASTs above. Please note that the flat above 82 Filton Road has been sold off on a long leasehold basis.
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 / 84a & 86a Filton Road - D
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.
