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Cheltenham Road, Bristol £359,950

  • Prominently positioned mixed use investment property
  • Set on the Cotham/St Andrews/Bishopston boarders
  • Comprises shop/cafe with 2 bed maisonette above + hoarding
  • Currently fully let producing circa £19,000 p.a.
  • Currently represents gross annual yield of in excess of 5%
  • Significant potential to increase yield
  • Qualifies for commercial stamp duty rates
  • Shop EPC - G. Maisonette EPC - E

This is a mixed use end of terrace building arranged over three floors of unusual shape. The ground floor is occupied by a sandwich shop/cafe. Upstairs is a large self-contained maisonette offering a large open plan kitchen/living space and 2 double bedrooms. It was refurbished approximately 5 years ago and is currently let on an expired Assured Shorthold Tenancy. In addition to this there is a hoarding producing £950 per annum. This is an excellent investment opportunity or offers potential for owner occupiers wanting an income.


Cheltenham Road
Bristol BS6 5QU
Sale Type: Sold STC
Ref #: AH000145

Situation

The property is situated in a prominent high street position on the junctions of Cheltenham Road, Gloucester Road and Zetland Road. The area is internationally renowned for its high number of independent traders as well as several national chains. There are a number of restaurants, bars, shops, cafes and art studios in the immediate vicinity. Montpelier train station is approximately 0.25 miles away while there is a local bus service providing access to the rest of the city.

Description

This is a mixed use end of terrace building arranged over three floors of unusual shape. The ground floor is occupied by a sandwich shop/cafe. Upstairs is a large self-contained maisonette offering a large open plan kitchen/living space and 2 double bedrooms. It was refurbished approximately 5 years ago and is currently let on an expired Assured Shorthold Tenancy. In addition to this there is a hoarding producing £950 per annum. This is an excellent investment opportunity or offers potential for owner occupiers wanting an income.

Accommodation

Commercial Unit

30.8 SQM

Self contained commercial unit currently used as a sandwich shop/cafe. Let on a 3 year lease from June 2016 at £7,800 per annum..

Rateable value

The rateable value effective from the 1st April 2017 is £9,200 pa.

Maisonette

The property is approached via a solid wood door on Cromwell Road. This gives access to a small lobby area with stairs to the first floor landing.

First Floor Landing

This is a good sized area offering plenty of storage space, with door leading to open plan living space.

Kitchen/Living Room

27' 6'' (max) x 13' 9'' (max) (8.39m (max) x 4.19m (max))

A large open plan living space with triple aspect. The kitchen offers a range of floor and wall units with stainless steel sink and drainer, spaces for free standing cooker, washing machine and fridge freezer. In addition there is a window looking back up Gloucester Road. The living space benefits from two windows overlooking Cheltenham Road and one over Cromwell Road. From the living space there is an arch leading to the stairs.

Half landing

With door leading to WC and wash basin

Second Floor

With doors to accommodation and stairs to bathroom

Bedroom 1

16' 3'' (max) x 14' 5'' (max) (4.95m (max) x 4.40m (max))

An unusual shaped room roughly triangular in shape with dual aspect. The tenants are currently using it as a second living room/study.

Bedroom 2

14' 0'' x 11' 3'' (4.26m x 3.44m)

A good sized double bedroom with views over Cheltenham Road

Bathroom

Situated on the half landing, accessed via stairs from the second floor. Comprises white suite consisting of bath with shower over, WC and pedestal wash basin. Floor to ceiling tiling and window.

Possession

The maisonette is currently let on an expired Assured Short-hold Tenancy at £850 PCM. It should be noted that whilst we do not do residential letting we believe the current market rent to be in the region of £900 - £950 PCM. Should anyone wish to buy the property for their own occupation of the maisonette vacant possession can be obtained with 2 months notice

Council Tax

Band A - council tax payable for 2017/18 is £1,199.84

Outside

There is a hoarding attached to the Cromwell Road elevation currently let at £950 p.a. We understand that the our client has served notice to have it removed at the end of the year although Insight have expressed a desire to continue the lease so could be reversed with a possible increase in rent.

Tenure

Leasehold - residue of a 999 year lease with the majority still to run


Cheltenham Road
Bristol BS6 5QU
Sale Type: Sold STC
Ref #: AH000145
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