3a & 5 , Abbotsford Road, Cotham, Bristol, BS6 6EZ
, BS6 6EZ
Price: Sale Price: £250,000
Size: SOA Primary Category: Investment All Categories:
Investment, Property Ref/Movehut: MH617596 Property Ref/Agent: 28748855/bristol/abbotsford-road
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: June 15, 2019
A sizeable two storey commercial property (approx. 1,990 sq ft) that is currently trading as an electrical supplies store and is let producing £15,250 per annum on a 10 year lease from June 2015. There is potential to increase the rent at review and the property also offers long-term scope for residential development, subject to obtaining the necessary planning consents and vacant possession. The property is situated in a fantastic position just off Cotham Hill and provides easy access to Whiteladies Road and Clifton Down Shopping Centre.
FOR SALE BY AUCTION -
This property is due to be auctioned on the 18th June 2019 at The Grace Room, The Bristol Pavilion, County Ground, Nevil Road, Bishopston, Bristol at 7pm.
TWO STOREY RETAIL / WAREHOUSE PREMISES WITH LONG-TERM DEVELOPMENT POTENTIAL
A substantial two storey commercial premises (approx. 1,990 sq ft) arranged as a ground floor electrical supplies retailer with rear storage and additional first floor storage space, office, kitchen and toilet facilities. The first floor offers scope for residential conversion and possibly an additional second storey, subject to obtaining the necessary planning consents and vacant possession.
The property is situated in a prime position on Abbotsford Road just off Cotham Hill in Cotham. There are a wide variety of independent shops, bars and restaurants locally and easy access is provided to Whiteladies Road and Clifton Down Shopping Centre.
FLOOR PLAN -
The floor plan is provided for indicative purposes only and should not be relied upon.
SCHEDULE OF ACCOMMODATION (Approximate Floor Areas - GIA) -
Ground Floor: 996 sq ft (92.5 sq m)
First Floor: 994 sq ft (92.4 sq m)
LEASE DETAILS -
The property is let to Rexel UK Limited on a 10 year Full Repairing and Insuring lease from 24/6/2015 at a passing rent of £15,250 per annum, subject to a rent review on 24/6/2020 and a tenant only break clause on 23/6/2020 (subject to 6 months' written notice).
COVENANT STRENGTH -
For the year ending 31 December 2017, Rexel UK Limited reported an annual turnover of £739,622,000.
Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 inc VAT) buyer's premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation.
They are not necessarily figures which a property will sell for and may change at any time prior to the auction.
Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY BIDDING -
If you are unable to attend the auction then you can submit a proxy bid. This will authorise a representative of Maggs & Allen to bid on your behalf up to a pre-set amount. The proxy bidding form is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and 2 cheques (one for the 10% deposit and one for the buyer's premium of £1,200 inc VAT) is required by the auction department no later than 4pm on the day of the auction.
ATTENDING THE AUCTION -
If you are intending to bid and are successful, the following will be required:
* Proof of identity (valid passport or photo driving licence).
* Proof of address (bank statement, recent utility bill, council tax bill or tenancy agreement).
* 10% deposit payment.
* Buyer's premium payment.
* Details of your solicitor.
DEPOSIT & BUYER'S PREMIUM PAYMENTS -
Forms of acceptable payment:
* Bankers Draft
* Debit Card Payment
For card payments:
Please ensure that you advise your bank of the potential payment prior to the auction.
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.