9 bedroom commercial property for sale

MIXED USE / 9 BED HMO - DENMARK STREET

Under Offer £275,000

Property Description

Key features

  • MIXED USE INVESTMENT ( 5875 Sq Ft )
  • GROUND FLOOR RESTAURANT
  • 9 BEDROOM HMO
  • HUGE POTENTIAL

Full description

Hollis Morgan - A Freehold ( 5875 Sq Ft ) mixed use INVESTMENT comprising an A3 RESTAURANT and a 9 BED HMO in a CENTRAL LOCATION

The Property - A Grade II Listed Freehold opportunity comprising 10 & 11 Denmark Street ( 5875 Sq FT ) comprising an established restaurant ( A3 ) trading on the ground floor / mezzanine and basement plus a self contained 9 bedroom HMO on the upper 3 floors.

Location - Denmark Street is located adjacent to the Bristol Hippodrome theatre within the heart of the City Centre. Local attractions such as the Harbourside, Bristol Royal Infirmary and Bristol University are all within close proximity. Park Street is just around the corner and offers an array of independent retailers, cafes, bars and restaurants.

The Opportunity - EXISTING INCOME

The property is current let to SA BRAIN on a 30 year lease from 27th October 1997 ( Refer to legal pack )
We understand SA BRAIN sublet the property to the existing tenants who occupy and run the whole building i.e. the restaurant and the HMO.
The property is arranged as 2 Freeholds ( 10 & 11 ) and subsequently two identical leases generating £9,5000 each per annum ( £19,000 per annum )

SCOPE TO INCREASE INCOME

We understand the lease is subject to a 5 year rent review which has not been actioned since the start of the lease term in 1997 so there is potential to renegotiate the existing lease.
Subject to negotiating a surrender of the lease / Vacant Possession there is clearly scope to increase the income of both elements of the building - please refer to rental appraisals.

UPPER FLOORS - POTENTIAL

The upper floors would be suitable for conversion to self contained flats ( Subject to consents )

Rental Appraisal - An interesting longer-term investment. Potential buyers would need to seek advice around income for the commercial side of the property. However the location is ideal for students and would be popular with both Bristol University and University of West of England alike. Large properties like this are very popular with second year students. If the property (just residential) was updated for the next academic year we would suggest that the property be marketed at £545.00 per room which just from the residential side of things would generate £4905pcm or £58860 p/a.

A different investment proposition but one for the future.

If you have any questions or queries regarding this valuation please contact us on 0117 911 3423, 07854367689 or craig@clifton-rentals.co.uk


More information from this agent

Nearest stations

  • Bristol Temple Meads (0.8 mi)
  • Bedminster (0.9 mi)
  • Clifton Down (1.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hollis Morgan, Clifton - Commercial, Land, Development and Investment

9 Waterloo Street, Clifton, Bristol, BS8 4BT

0117 973 6565 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

Map & Street View

Nearest stations

  • Bristol Temple Meads (0.8 mi)
  • Bedminster (0.9 mi)
  • Clifton Down (1.0 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hollis Morgan, Clifton - Commercial, Land, Development and Investment

9 Waterloo Street, Clifton, Bristol, BS8 4BT

0117 973 6565 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 28129655. 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 Hollis Morgan, Clifton - Commercial, Land, Development and 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.

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

Map data OpenStreetMap contributors.