Property Information
Address:
Concorde Drive, Bristol
, BS10 6PZ
Price: Property no longer available.
Size: 2577 sq ft239 sqm
Primary Category: Investment
All Categories:
Investment, Shop,
Property Ref/Movehut: MH647886
Property Ref/Agent: 18632
*Please use the agent ref when calling the agent directly.
Property description
Mixed use investment
Prominent roadside location
Popular local centre
On street parking
Rear service yard
Asset management opportunities
£437,000 subject to contract
7.50% net initial return
Location
A popular Bristol suburb situated between the city centre (approximately 2 miles south) and Cribbs Causeway. A corner plot with good visibility from Greystoke Avenue. There are several primary schools, a hospital, and a David Lloyd within the area.
The property comprises a block of five retail units and five flats. All the flats and two retail units have been sold off on long leasehold arrangements.
The three retail units are let on Full repairing and Insuring occupational leases each being a ground floor lock up unit with rear access and servicing. The building is of part brick cavity with mono pitch bitumen felt roof.
The site extends to approximately 0.232 acres (0.09 hectares) on Promap.
Accommodation
All areas are approximate and measured in accordance with the RICS Property Measurement (2nd Edition).
Planning
Interested parties should make their own enquiries.
Rent / Price
Freehold subject to the tenancies shown overleaf. The total net rent is currently £34,302 pa ex.
Terms
Offers are invited in the region of £437,000 subject to contract which reflects a net initial yield of 7.50% allowing for purchasers costs of 4.50%
Business Rates
From the Valuation Office Agency website () we
understand that the current rateable value from 1st April 2017 is:
Unit 1:
£6,200
Billing authority reference: 033
Unit 2: £7,500
Billing authority refrence: 002
Unit 3: £7,500
Billing authority refrence: 001
Services
We understand that mains electricity water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries.
EPC
An Energy Performance Certificate has been carried out on this property and can be viewed by going to
Unit 1: C (70)
Unit 2: E (113)
Unit 3: C (61)
Legal Fees
Each party to be responsible for their own legal fees in relation to this transaction.
VAT
The property has not been elected to charge VAT and will therefore not be chargeable in respect of this sale.
Mixed use investment
Prominent roadside location
Popular local centre
On street parking
Rear service yard
Asset management opportunities
Potential to increase rents
7.50% net initial return
;