A substantial investment/development opportunity offering circa 10% gross annual yield
This is a substantial mixed use property comprising a pair of intercommunicating retail units at the front of the property, with first floor offices above. To the rear of the ground floor is a self-contained 1 bedroom flat and a further self-contained office unit. Outside there is gated yard as well as additional parking to the front and rear. A side lane provides vehicular access to the rear of the property. Based on recent nearby developments there is significant scope development of the back yard and offices or in deed whole sale redevelopment of the entire site. Currently let at £31,800 per annum this an attractive mixed use investment offering a gross annual yield of circa 10%, based on the guide price. The property benefits from vehicular access to the side from a lane which leads to parking area for several vehicles and access to a gated yard. There is significant scope for development to the rear of the property or indeed total redevelopment of the entire site.
Let to Hunters Estate Agents on a 3 year lease from September 2022 at £1,400 PCM. The accommodation comprises: Unit 1 ( Right hand side) Suspended ceiling, air con, UPVC shop front 8.37m x 3.0m (including internal office) Unit 2 (left hand side) Suspended ceiling & air con. 6.08m x 4.11m plus 1.46m x 0.9m Lobby. Staircase to FF. Door to rear shared lobby Kitchenette 3.06m x 1.47m Double glazed bay window to rear. Sink & cupboards. First Floor Landing Room 1 (front) 5.16 to max x 3.09. Electric panel heater. Room 2 (rear) 5.0 to max into bay x 3.09m Room 3 (front) 4.17m x 3.72m, Electric panel heater. Arch to Room 4 (side) 3.45m x 2.35m. Electric panel heater. Cloak/wc x2 Room 5 (side) 3.70m x 3.20m door to Room 6 (side) 3.24m x 2.57m used as store. Rateable Value Current rateable value (23 September 2019 to present) £7,700
Ground floor rear flat
A 1 bedroom ground floor flat, recently let on a 6 moth AST at £800 pcm
Approached via gated entrance from the righthand side of the property and from the rear yard:
Communal entrance lobby providing access to the flat and rear entrance to the offices.
Living room 5.45m x 1.97m with bedroom and bathrooms off. Arch leading to
Dining Room 2.40m x 3.82m with door to
Kitchen 3.25m x 1.95m Fitted units
Bedroom 2.52m x 3.18m
Bathroom: Bath & wash basin with separate cloakroom/wc.
Gas fired central heating
Council Tax Band
A single storey rear extension let as offices, currently producing £1,350 per quarter. Not inspected by the auctioneers. We understand the total floor area measures 42.6 sqm. Rateable Value Current rateable value (1 April 2017 to present) £4,150
To the front of the property is a parking area for 3-4 cars. To the side of the property a lane provides vehicular access to a further parking area as well as gated access to a rear yard.
By appointment with City & Rural Property Auctioneers. We will require at least 48 hours’ notice to arrange a viewing between Christmas and New Year.
For Sale by Live Stream Auction on 18th January
In order to take part you must complete the registration form and return it together with two forms of ID. You will then be able to bid from the luxury of your own home either over the internet, by phone or by proxy. Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding.
A full auction legal pack can be downloaded once available. For further information on the other lots in this auction please visit the website.
EPC Rating: Shops & Offices - D. Flat - D
Council Tax Band: TBC
Local Authority: Bath and North East Somerset Council
Lease Years Remaining: TBC
Annual Service Charge: TBC
Annual Ground Rent: TBC
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Plans, Maps and Photographs
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