£395,000
Property for saleCheltenham Road, Montpelier, Bristol BS6
Just added
Freehold
About this property
Commercial investment
Let at £33,500pa
Freehold
Popular location
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.
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.
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£1,975 per month
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