Residential Development for sale

Dove Lane & Wilson Place, Bristol, Bristol

Sold STC 14,000 sq. ft. | £950,000

Property Description

Commercial information

  • 14,000 sq ft (1,300 sq m)
  • Use class orders: B1 Business

Full description

Two large connecting freehold buildings of approximately 14,000sqft (Gross Internal Area) currently arranged as light and airy offices with studio space over 2-3 storeys. The property is situated close to Bristol City Centre in a location due to undergo substantial redevelopment.

The building would make an ideal commercial investment with potential to sub-divide into smaller office/studio suites, would suit owner occupation and also offers potential for residential redevelopment, subject to obtaining all necessary consents. Best and final offers are invited by 12 noon on 14th December 2016.

Description - A substantial freehold commercial building fronting both Dove Lane and Wilson Place. The building is currently let to three separate tenants producing £56,800pa (approximately £3.80-£5.75/ft), which we feel is substantially below that of market level. The property is situated in a central position at the bottom of the M32 close to the entrance to the Cabot Circus car park.

Location - The property is situated in a central Bristol location in an area that is due to undergo significant redevelopment. The site directly opposite the subject property was granted outline planning consent in December 2012 for a mixed use development of up to 21,892sqm residential floorspace (a maximum of 250 separate units); up to 8,400sqm of commercial floorspace (B1 Class); up to 2,000sqm of commercial floorspace (A1, A2, A3, A4 or A5); a doctors surgery of up to 150sqm (D1); and car and cycle parking, associated ancillary uses and infrastructure, structural landscaping and formation of public open spaces and associated infrastructure and public realm works.

Accommodation - Please refer to the floor plan for layout and sizes.

5-11 Dove Lane - Arranged as ground floor office space with warehouse, photographic studio and further loft style office space to the first floor.

14-16 Wilson Place - Arranged as dance studios to the ground floor with additional mezzanine level. To the first floor is a large, predominantly open plan office with additional recording studios.

Tenancy Scheudle - Currently let to three tenants until 11th July 2017 (outside of the Landlord & Tenant Act) on the following basis:

Ground Floor (Plus Mezzanine) Of 14-16 Wilson Place - Let to a theatre school at £14,000pa.





First Floor Of 14-16 Wilson Place - Let as offices/recording studio at £19,800pa.

5-11 Dove Lane - Let at £23,000pa.

Potential Rents - We would anticipate market rents in the region of £8/ft equating to approximately £100,000pa.

Method Of Sale - Offered for sale by Informal Tender - Guide Price £950,000. Best and final bids are invited in writing on a date and time to be confirmed. Offers are invited on both an unconditional and a subject to obtaining planning consent basis. Best and final offers are invited by 12 noon on 14th December 2016.

Joint Agents - Andrew Frost - Colliers International: 0117 9172043.

Vat - Please note this property is elected for VAT. All figures quoted are exclusive of vat unless otherwise stated.

Energy Performance Certificate - Rating: D.

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.

Viewing - Strictly by appointment with Maggs & Allen.

The Agent has not tested any apparatus, equipment, fixtures and fittings or services and so cannot verify that they are in working order or fit for the purpose. A Buyer is advised to obtain verification from their Solicitor or Surveyor. References to the Tenure of this property are based on information supplied by the Seller. The Agent has not had sight of the title documents. A Buyer is advised to obtain verification from their Solicitor.
These particaulrs including all measurements, plans, dimensions and photographs are provided for guidance purposes only and any intending purchaser or lessee should make their own enquiries.


More information from this agent

Nearest stations

  • Montpelier (0.6 mi)
  • Lawrence Hill (0.8 mi)
  • Stapleton Road (0.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Maggs & Allen, Auction, Commercial & Investment

60 Northumbria Drive, Henleaze, Bristol, BS9 4HW

0117 407 2072 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Floorplans


To view this property or request more details, contact:

Maggs & Allen, Auction, Commercial & Investment

60 Northumbria Drive, Henleaze, Bristol, BS9 4HW

0117 407 2072 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Montpelier (0.6 mi)
  • Lawrence Hill (0.8 mi)
  • Stapleton Road (0.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Maggs & Allen, Auction, Commercial & Investment

60 Northumbria Drive, Henleaze, Bristol, BS9 4HW

0117 407 2072 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 26558260. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Maggs & Allen, Auction, Commercial & Investment. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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