This substantial and fully let mixed use investment property presents an excellent opportunity for prospective buyers. The building consists of 2 well positioned ground floor retail units, along with 4 residential dwellings located on the upper floors. Collectively, the property generates an annual income of £72,000, demonstrating its strong income producing potential.
The property is offered for sale on a freehold basis, subject to the existing occupational leases and tenancies in place, providing a secure income stream for the new owner.
Additionally, there is an adjacent plot of land to the rear of the property, which is available for purchase by separate negotiation. This provides further development potential or opportunities for expansion, subject to consent.
DESCRIPTION -
This substantial and fully let mixed use investment property presents an excellent opportunity for prospective buyers. The building consists of 2 well positioned ground floor retail units, along with 4 residential dwellings located on the upper floors. Collectively, the property generates an annual income of £72,000, demonstrating its strong income producing potential.
The property is offered for sale on a freehold basis, subject to the existing occupational leases and tenancies in place, providing a secure income stream for the new owner.
Additionally, there is an adjacent plot of land to the rear of the property, which is available for purchase by separate negotiation. This provides further development potential or opportunities for expansion, subject to consent.
LOCATION -
The property is situated fronting East Street in the vibrant and highly sought after area of Bedminster. This great position offers excellent visibility and accessibility, making it an attractive prospect for both retail and residential tenants. East Street itself is a well established thoroughfare, known for its mix of local shops, businesses, and residential dwellings, contributing to a lively and diverse community.
TENURE -
Understood to be freehold.
LETTING DETAILS -
The property is fully let producing £72,000pa on the following basis:
Commercial lettings
13 East Street - £6,600pa
15 - 17 East Street - £12,000pa
Residential lettings
13a (2 bed) - £1,300pcm
15a (2 bed) - £1,200pcm
17a (studio) - £900pcm
17b (1bed) - £1,050pcm
BUSINESS RATES -
The rateable value with effect from April 2023 for each commercial unit is as follows:
13 East Street - £2,750
15 - 17 East Street - £8,400
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Ratings:
13-17 East Street - D (expires December 2025)
13a East Street - E, 15a East Street - E, 17a East Street - E & 17b East Street - D
FLOOR PLAN -
The floor plan is provided for indicative purposes and is not to be relied on.
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.
REAR PLOT -
Please note the plot at the rear of the property is available by separate negotiation.
