Commercial property for sale in Henleaze Road, Henleaze, Bristol BS9

A mixed use investment property situated in a highly desirable location on the Henleaze High Street. The property is arranged as a ground floor extended shop with a large self-contained 3 bedroom maisonette above.

The shop is let at £22,000pa on an effectively fully repairing and insuring basis. The flat is currently let at a reduced rent of £1,250pcm but with some updating, we consider the market rent to lie in the region of £750pcm per room (i.e £2,250pcm) subject to obtaining a Landlord Licence. There is also potential for a further 4th bedroom, subject to obtaining the necessary consents.

The property is therefore currently let at £37,000pa but offers potential to produce an annual rent of circa £50,000pa and to create a further bedroom.

Description

A mixed use investment property situated in a highly desirable location on the Henleaze High Street. The property is arranged as a ground floor extended shop with a large self-contained 3 bedroom maisonette above.

The shop is let to Bayfield Opticians and Audiologists at £22,000pa, on an effectively fully repairing and insuring basis. The flat is currently let at a reduced rent of £1,250pcm but with some updating, we consider the market rent to lie in the region of £750pcm per room (i.e £2,250pcm) subject to obtaining a Landlord Licence. There is also potential for a further 4th bedroom, subject to obtaining the necessary consents.

The property is therefore currently let at £37,000pa but offers potential to produce an annual rent of circa £50,000pa and to create a further bedroom.

Location

The property is situated in a busy trading position on Henleaze Road. Neighbouring occupiers include Boots, Costa Coffee and The Co-Operative supermarket, and various other more local operators.

Shop Accommodation

The shop has been recently refurbished by the tenant and is arranged as a retail area to the front, with partitioned examination room, two further examination rooms to the rear, office/kitchen, male and female toilet facilities, and rear access. The shop has gas central heating, air conditioning and modern LED lighting.

Maisonette Accomodation

The maisonette is accessed from the rear, off Cavendish Road. The maisonette is currently arranged as 3 bedrooms with large lounge, kitchen/diner, shower room and bathroom. There is potential to reconfigure the maisonette to create a further fourth bedroom, subject to obtaining the necessary consents. The flat has gas central heating and UPVC double glazing.

Floor Plan

The floor plan is provided for indicative purposes only and should not be relied upon.

Viewings

By appointment.

Lease Details

Shop

The shop is let to Bayfield Opticians and Audiologists (Bayfields Y Limited) on a 5 year effectively fully repairing and insuring term from the 30th June 2022, at a passing rent of £22,000pa. The lease is excluded from Sections 24-28 of The Landlord & Tenant Act 1954. A copy of the lease is available on request. For the year ending December 2022, Bayfields Y Ltd reported a turnover of £12.9m.

Maisonette

We understand the flat is let on an Assured Shorthold Tenancy at £1,250pcm. This is below market level and offers potential to increase.

Business Rates / Council Tax

The shop has a rateable value of £12,750 with effect from April 2023. The maisonette has a council tax band B.

Energy Performance Certificate (Epc)

Rating:
Shop: C - valid to C February 2032.
Maisoentte: D - valid to February 2032

Vat

All figures quoted are exclusive of VAT unless otherwise stated.

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.