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COMMERCIAL

Cheltenham Road, Montpelier, Bristol

£395,000
Maggs & Allen, Auction, Commercial & Investment
PROPERTY TYPE

Commercial Development

SIZE

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Key features

  • Commercial investment
  • Let at £33,500pa
  • Freehold
  • Popular location

Description

An excellent investment opportunity comprising 2 ground floor commercial units located on Cheltenham Road. The property currently let producing £33,500pa. In addition each of the flats sold off on long leases pays a ground rent of £50pa until 31st January 2052, £75pa until 31st January 2085 and £100pa thereafter. Offered for sale on a freehold basis subject to the long leases of the flats, previously sold off.

Description - An excellent Investment opportunity comprising 2 ground floor commercial units currently let producing £33,500pa. In addition each of the flats sold off on long leases pays a ground rent of £50pa until 31st January 2052, £75pa until 31st January 2085 and £100pa thereafter.

Location - The property is situated in a great position on Cheltenham Road, a bustling and vibrant area known for its diverse mix of independent businesses, shops, and eateries. This high-footfall location offers excellent visibility and accessibility, making the commercial units highly desirable to tenants.

Tenure - The 2 commercial units are held on a long leasehold basis but the sale is to include the freehold of the property. The 4 flats have previously been sold off on long leases.

Lease Details - The commercial units are let on the following basis producing £33,500pa. One of the two commercial units is let on a long lease. The lease has expired on the other commercial unit and the tenants are “holding over”. In addition each of the 4 flat owners pay a ground rent of £50pa until 31st January 2052, £75pa until 31st January 2085 and £100pa thereafter. Two of the flats have 87 years left on their leases the other two of the flats are held on the residue of 999 year leases.

Unit 1 - Aid Box Community - Let at £16,000pa. Currently holding over from July 2024, we understand that they do not plan to renew. We would suggest the market rent to align with the adjoining unit at £17,500pa.

Unit 2 - Papa Johns - Let at £17,500pa on the remainder of a 15 year lease from October 2013.

Business Rates - The rateable value with effect from April 2023 for each unit is as follows:
Unit 1 - £13,250
Unit 2 - £14,000

Energy Performance Certificate (Epc) - Unit 1 - C (valid until March 2032)
Unit 2 - D (valid until March 2032)

Floor Plan - The floor plan is provided for indicative purposes only and should not be relied upon.

Vat - All figures quoted are exclusive of VAT unless otherwise stated.

Viewings - By appointment with Maggs & Allen.

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.

Brochures

Cheltenham Road, Montpelier, Bristol

Cheltenham Road, Montpelier, Bristol

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Montpelier Station0.1 miles
  • Redland Station0.4 miles
  • Clifton Down Station0.9 miles

About Maggs & Allen, Auction, Commercial & Investment

60 Northumbria Drive, Henleaze, Bristol, BS9 4HW
Industry affiliations:Industry affiliation logo 0Industry affiliation logo 1Industry affiliation logo 2

Auction, Commercial and Investment Property Services

Maggs + Allen offer a complete property solution for both the public and professional markets.

We are:

* Chartered Surveyors

* Auctioneers

* Commercial Sales & Letting Agents

* Land & New Homes

* Licensed Estate Agents

* Residential Letting & Management Agents

Maggs & Allen can advise and help with all your Property requirements from the leasing, sale or acquisition of offices, shops, industrial premises, development land, & all types of Investment properties throughout the Bristol area.

Our highly successful monthly auctions are ideal for those looking to dispose of, properties requiring renovation, land with/without planning consent, protected tenancies, deceased estates and unusual properties alike. We have held the highest success rate of auction sales for the area for over 4 years.

Using our experience and expertise as Estate Agents, Auctioneers and Surveyors we are able to offer a comprehensive service to Land Owners, Developers & Investors.

We carry out a thorough marketing campaign via local property papers and magazines, all our properties are automatically displayed on our website and portals such as Rightmove ensuring maximum exposure.

For a free valuation or advice call 01174 072072

Notes

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Disclaimer - Property reference 33520553. 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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