Colston Street, Bristol City Centre, Bristol BS1 5AX
, BS1 5AX
Price: Sale Price: £225,000
Size: SOA Primary Category: Investment All Categories:
Investment, Property Ref/Movehut: MH621895 Property Ref/Agent: 29166796/avon/bristol/colston-street
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: June 3, 2020
A freehold commercial investment comprising a well presented and recently refurbished ground floor bar let on a 20 year lease from June 2016 subject to a current passing rent of £14,500pa. In addition the freehold includes the ground rents of 5 flats above, which provide an additional income of £125pa.
We consider this to be a low rent and offers potential to increase at the end rent review.
The property is situated close to the city centre within close proximity to Christmas Steps and Colston Hall.
A double fronted and recently refitted Tequila bar of approximately 900sqft let on a 20 year lease at £14,500pa. In addition the property benefits from the ground rents of 5 flats above which produce an additional £125pa.
Situated in a central position close to the Colston Tower and the Bristol Royal Infirmary.
Planning consent for A4 Use (drinking establishment) was obtained in April 2016.
BUSINESS RATES -
The rateable value with effect from September 2017 is £13,500. The tenant is responsible for the business rates.
LEASE DETAILS -
Let on a 20 year effectively Full Repairing and Insuring basis (subject to a 20% liability) from June 2016 subject to a passing rent of £14,500pa and 5 yearly rent reviews. The lease is inside The Landlord & Tenant Act 1954 providing the tenant security of tenure. The shop is let to Lower The Bar Limited and is also subject to a directors personal guarantee.
GROUND RENTS -
The freehold also includes the ground rent of 5 flats above which provide an additional £125pa.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
EPC RATING -
EPC Rating: D - (August 2012)
All figures quoted are exclusive of VAT unless otherwise stated.
As a trading business viewings are strictly 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.
Maggs & Allen use all reasonable endeavors to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.
EPC for Colston Street, Bristol City Centre, Bristol BS1 5AX
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