Retail Unit, 62 - 64, High Street, Shirehampton,
UNDER OFFER, £375,000
The property to be sold comprises a self-contained ground floor retail unit within a two story property, plus a side accessway.
The ground floor retail unit has a large retail sales area and a large internal storage area (with cold storage facilities).
The first floor, which is to be retained by the vendor, is to be the subject of a high quality residential development to include the addition of a second floor level to accommodate further self-contained flats.
The CGI image on the front of the particulars shows the building on completion of the refurbishment which will greatly enhance the image and style of the property.
Details of the planning permission for the redevelopment can be found online at the Bristol City Council planning portal under the planning reference: 15/02353/F.
Ground Floor Retail Unit 4,105 sq ft (381.50 sq m)
Total 4,105 sq ft (381.50 sq m)
The ground floor retail unit is to be sold by way of a new 999 year lease at a peppercorn rent, subject to and with the benefit of an occupational lease, the details of which are set out below.
The long leasehold interest will be drawn on full repairing and insuring terms, as is the occupational lease.”
The property is located in a prominent position on the busy and bustling High street of Shirehampton situated 3 miles to the west of Bristol City Centre. Shirehampton is a popular suburb of Bristol with excellent road and rail links, being only 1 mile from Junction 18 of the M4 and having its own train station with regular trains to Temple Meads Station in the City Centre.
The High street is a popular retail destination which benefits from a number of major multiple retailers such as Lloyds Bank and Co-operative Foods, Boots and Natwest Bank as well as a large number of successful local independent retailers and Haarts, Ocean and Taylors estate agents
Tenant - Co-operative Group Food Limited.
Lease Start 25th December 1995
Lease expires 24th December 2020.
Rent Review - Five yearly upward only rent reviews. The next review date is 30/12/15
Rent - Passing rent of £38,000 pa exclusive
It should be noted that whilst the property has the benefit of the occupational lease, the tenant is currently not trading to the public from it.