48 The Horsefair Bristol BS1 3JE

48 The Horsefair
Bristol
BS1 3JE

City Centre Retail Investment

Let to Starbucks Coffee Company (UK) Ltd until 2025 (no breaks)
Prominent corner position in an established retailing area
The property sits within a short walk of The Galleries Shopping Centre, Cabot Circus Shopping Centre and Bristol Bus and Coach Station
Nearby occupiers include Primark, Marks & Spencer, BHS, Greggs and Burger King
Rent of £115,000 p.a.x. (gross) £113,800 p.a.x. (net) See note 2
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
28
Auction
10th December 2015
Rent
Gross: £115,000 per Annum Exclusive
Status
Sold
Price
£905,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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City Centre Retail Investment

Let to Starbucks Coffee Company (UK) Ltd until 2025 (no breaks)
Prominent corner position in an established retailing area
The property sits within a short walk of The Galleries Shopping Centre, Cabot Circus Shopping Centre and Bristol Bus and Coach Station
Nearby occupiers include Primark, Marks & Spencer, BHS, Greggs and Burger King
Rent of £115,000 p.a.x. (gross) £113,800 p.a.x. (net) See note 2
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 28
Auction 10th December 2015
Rent Gross: £115,000 per Annum Exclusive
Status Sold
Price £905,000
Sector
High Street Retail
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 120 miles west of London, 80 miles south of Birmingham, 50 miles east of Cardiff
Roads: A38, A4032, M23 (Junctions 3)
Rail: Bristol Temple Meads Rail
Air: Bristol International Airport

Situation

The property is situated within Bristol City Centre a prominent corner location on the southern side of The Horsefair at its junction with the pedestrianised Merchant Street, which acts as a thoroughfare to and from Broadmead, Bristol’s prime retailing pitch. The property is situated opposite Debenhams Department Store and is a short walk away from The Galleries Shopping Centre, Cabot Circus Shopping Centre and Bristol Bus and Coach Station. Other nearby occupiers include Primark, Marks & Spencer, BHS, Greggs and Burger King.

Tenure

Leasehold. Held for a term of 99 years until 23rd November 2054 at a ground rent of £1,200 per annum. The lease is contracted within the Landlord and Tenant Act 1954.

Location

Miles: 120 miles west of London, 80 miles south of Birmingham, 50 miles east of Cardiff
Roads: A38, A4032, M23 (Junctions 3)
Rail: Bristol Temple Meads Rail
Air: Bristol International Airport

Situation

Tenure

Leasehold. Held for a term of 99 years until 23rd November 2054 at a ground rent of £1,200 per annum. The lease is contracted within the Landlord and Tenant Act 1954.

Description

The property comprises a retail unit over ground and part first floor retail with ancillary accommodation on the remaining.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x. (Gross)	Review
Ground First Second	Retail Retail/Ancillary Ancillary	117.51 sq m 96.46 sq m 88.12 sq m	(1,264 sq ft) (1,038 sq ft) (948 sq ft)	STARBUCKS COFFEE COMPANY (UK) LTD (1)	18 years from 06/07/2007 until 08/02/2025 (2)	£115,000	06/07/2022 (2)
Totals		302.09 sq m	(3,250 sq ft)			£115,000

(1) For the year ending 28th February 2014, Starbucks Coffee Company (UK) Ltd reported a turnover of £408,721,070, pre-tax profits of £1,056,196 and a total net worth of £35,513,082. (Source: Experian Group 09/11/2015)
(2) The current lease is for a term of 10 years from 6th July 2007 at a rent of £115,000. A reversionary lease is in place from the expiry of the current term until 8th February 2025 at a rent of £78,750 p.a.x. The rental income from 6th July 2017 will therefore be £78,750 p.a. (Gross).