Description
Fisherton Mill, an airy and spacious converted Victorian grain mill, an iconic setting to browse, shop and eat in a unique atmosphere which is complemented by an outside courtyard which offers alfresco continental ambience.
Of interest to "Lifestyle" business operators looking for a combination of investment income, superb living space and a thriving business in the creative and leisure sector.
Also of interest to investors and developers with substantial "value add" opportunity for further income improvement, break-up, changes of use and development.
The Mill currently provides a superb loft style four bedroom living space which has massive "Airbnb" potential due its central location, close to the train station, Cathedral and further afield attractions like Stonehenge and Bath.
The business has scope to extend its offering, increase range of food, enhanced opening hours and more, making this an attractive proposition for a successful entrepreneur.
The asset is held in two titles giving scope for two separate lots, which could then appeal to two dynamic buyer markets.
Key Business Points:
- Owner operated business with possibility of continuation or leasing.
- Massive up-side potential for enhancing through food & beverage offering, hours, events and more.
- First floor studios let on inclusive licences.
- Ground floor gallery offered as event space with scope to maximise income.
- Extensive 4-bedroom 354.68 Sq. M. flat arranged over 2nd and 3rd floor with huge Airbnb / holiday let potential.
- Ability to secure 'The Archway' at an additional cost to diversify income through fully let residential buy-to-lets.
- Fisherton Mill benefits from an Alcohol Premises License which also permits live music. Full license details available on request.
Fisherton Mill Current Rent Receivable
£140,452 per annum, excluding profits from business and 'The Loft'.
The Archway
The Archway is a mixed-use investment opportunity which is attractive due to the main road access through to Fisherton Mill.
It features 3 commercial units at ground floor level and 4 residential flats at first and second floor.
There are three one-bedroom flats and one two bedroom flat which are currently let on assured shorthold tenancy agreements.
The Archway is only available in addition to Fisherton Mill, not as a separate lot.
Current Rent Receivable
£64,716 per annum (£67,116 disregarding incentives per annum when fully occupied).
Please refer to the full PDF brochure for full and complete information, including full tenancy schedules for both assets.
Planning
It is understood that Fisherton Mill benefits from Class E planning use while the upper floor flat benefits from Class C3 planning use.
The Archway commercial units benefit from Class E planning use with the upper floors benefiting from Class C3 planning use.
All interested parties must make their own enquiries to ensure the validity of the above.
Extension Opportunity
Planning consent for an extension of Fisherton Mill to incorporate a larger ground floor kitchen area and 1 new studio room, with an additional 3 studio rooms at first floor was approved on 17th June 2013 which we are informed has been partially implemented.
EPC Text
Asset Rating - Please see brochure for information
Rating
See Brochure for Rateable Values
Terms
Fisherton Mill is available as a standalone opportunity, at a guide price of £2,200,000 for the freehold.
The Archway is available in addition to the Fisherton Mill as an add-on opportunity, at a guide price of £1,000,000 for the freehold.
It is understood that VAT is not applicable to this transaction.
Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.
Transfer of Undertakings (Protection of Employment), also known as TUPE will apply to the sale of Fisherton Mill. Interested parties to make their own enquiries.
