Freehold Block, 163, Fishponds Road, Eastville, BS5 6PR
Sold, £399,000


Key Features

  • CORNER BLOCK OF FLATS
  • INCLUDES RETAIL UNIT
  • DETACHED WORKSHOP TO REAR
  • CURRENT INCOME £32,700
  • SCOPE TO INCREASE INCOME

THE PROPERTY

A prominent Freehold corner property arranged as 3 self contained 2 bedroom flats / maisonettes with private entrances, retail unit and detached workshop to rear.
Sold subject to existing tenancy agreements.
Each unit has its own services and gas central heating.

LOCATION

The property is located on Fishponds Road within the popular suburb of Eastville. Local amenities and services are all within close proximity including independent retailers, pubs, bars, cafes and convenience stores. The M32 Motorway is nearby and provides direct routes in and out of Bristol. The City Centre is approximately two miles away.

THE OPPORTUNITY

INVESTMENT - INCREASE RENTAL INCOME

The property is fully let producing £32,700 per annum
There is scope to increase these rents - please refer to independent rental appraisal.
POTENTIAL INCOME - £38,820

REQUIRES UPDATING / BREAK UP SALE

The properties have been let for many years and would now benefit from some basic updating but would suit breakup sale in this sought after central location.

WORKSHOP WITH POTENTIAL

The workshop ( subject to vacant possession ) has scope to create an additional residential unit or to extend Flat C to create a larger HMO style investment.

EXISTING INCOME

RETAIL UNIT + WORKSHOP

A 10 year lease producing £850pcm expired in September 2017 and is now rolling.

FLAT A

£625 pcm on rolling AST - in situ circa 9 years

FLAT B

£625 pcm on rolling AST - in situ circa 6 years

FLAT C

£625 pcm on rolling AST - in situ circa 6 years

RENTAL APPRAISAL

The Local Experts Say...

The rental income on the flats in this block could be increased to circa £695pcm per unit.
If updated we would expect to achieve in the region of £750 - £795pcm.

If you would like further information on our services or on this or any other property please contact us at our Bristol office on 01179 55 18 17 or via email at enquiries@piperproperty.co.uk. Alternatively please visit our website www.piperproperty.co.uk for information on our office locations, services and to find out how we do things differently.


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