Retail premises for sale

Location

Bristol is the 5th largest conurbation in the UK and capital of the South West, situated approximately 120 miles West of London, 88 miles South of Birmingham and 78 miles North of Exeter. Excellent road communications are provided with the M5/M4 motorway interchange situated 5 miles North of the City Centre. The M32 motorway provides a fast link from the City Centre to Junction 19 of the M4,5.5 miles to the North East. The M48 and M49 motorways give access to South Wales via both Severn crossings.

Situation

The property is situated in a prominent position on the established Fishponds Road (A432), one of the main arterial routes into Bristol City Centre. Fishponds Road is a very popular high street and boasts a wide range of national and independent shops, cafes and restaurants serving the densely populated surrounding areas.

Description

The property comprises a self contained ground floor retail unit totalling 651 sq ft (60.45 sq m). The current tenant uses the property as a tanning salon and has fitted the unit to with vinyl flooring, suspended ceiling with fluorescent lighting and staff facilities to the rear.

The property is situated close to a free customer car park (Stoke View Car Park) at the rear.

Areas

The shop unit has the following approximate net internal floor areas:

(There is a non full height basement used for storage of approximately 422 sq ft)

Tenure

The property is held freehold.

Tenancy

The ground floor occupational lease was renewed recently with a lease commencement date of 24th June 2023, with Fishponds Tanning Limited until 23rd June 2028, with a rent review in 24th June 2026, at a current rent of £9,000 per annum exclusive.

Proposal

We are seeking offers in offers in the region of which would show a net initial yield of excess of £97,750 (ninety seven thousand seven hundred and fifty pounds) which shows a net initial yield of approximately 9.04% after purchasers costs of 1.80%.

VAT

We understand that VAT is not chargeable

Business rates

Rateable Value: £8,600.
Rates Payable (2023/24) 49.9p in the £
Interested parties should make their own enquiries to the Local Billing
Authority.

EPC

Retail – C (60)

Legal costs

Each party is to be responsible for their own legal costs.

Anti-money laundering

In accordance with Anti-Money Laundering Regulations, evidence of identity
and source of funding will be required from the successful purchaser prior to
instructing solicitors.