2 Castle Street Thornbury Bristol BS35 1HB

2 Castle Street
Thornbury
Bristol
BS35 1HB

Freehold Restaurant and Residential Investment

Shop let to Romy's Kitchen Limited until 2023 (subject to option)
Three residential flats, two on Assured Shorthold Tenancies and one with vacant possession
Market town location north of Bristol
Nearby occupiers include NatWest Bank, Lloyds Bank, Domino’s Pizza and a Co-operative supermarket

Lot
67
Auction
11th July 2018
Rent
£25,460 per Annum Exclusive
Status
Sold
Price
£340,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

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Freehold Restaurant and Residential Investment

Shop let to Romy's Kitchen Limited until 2023 (subject to option)
Three residential flats, two on Assured Shorthold Tenancies and one with vacant possession
Market town location north of Bristol
Nearby occupiers include NatWest Bank, Lloyds Bank, Domino’s Pizza and a Co-operative supermarket

Lot 67
Auction 11th July 2018
Rent £25,460 per Annum Exclusive
Status Sold
Price £340,000
Sector
Restaurant
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of a Major Fund Manager

Property Information

Location

Miles: 2 miles north of Bristol; 23 miles south-west of Gloucester
Roads: A38, M5, M48, M4
Rail: Yate Rail, Pilning Rail
Air: Bristol International

Situation

Thornbury is a market town located some 12 miles north of Bristol. The property is located in the town centre on the eastern side of Castle Street, close to its junction with the High Street and The Plain. St Mary’s Street Shopping Centre is within a short walk and houses retailers including Lloyds Pharmacy, Costa Coffee, HSBC, Lidl and WHSmith. Other nearby occupiers include NatWest Bank, Lloyds Bank, Domino’s Pizza and a Co-operative supermarket.

Tenure

Freehold.

Location

Miles: 2 miles north of Bristol; 23 miles south-west of Gloucester
Roads: A38, M5, M48, M4
Rail: Yate Rail, Pilning Rail
Air: Bristol International

Situation

Tenure

Freehold.

Description

The property comprises a ground floor restaurant unit with three self-contained one bedroom residential flats on the upper floors, accessed from Castle Street. The property benefits from a garden area to the rear.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
2 Castle Street	Ground	Restaurant/ Ancillary	90.86 sq m	(978 sq ft)	ROMY’S KITCHEN LIMITED (1)	10 years from 03/01/2013 on a full repairing and insuring lease (2)	£12,500	03/01/2018 (3) (02/01/2023)
Flat 1	First	Residential	One bedroom flat		INDIVIDUAL	AST from 06/02/2012	£6,360 (4)	Holding over
Flat 2	Second	Residential	One bedroom flat		INDIVIDUALS	AST from 22/05/2015	£6,600 (4)	Holding over
Flat 3	First	Residential	One bedroom flat		VACANT POSSESSION
Total Commercial Area			90.86 sq m	(978 sq ft)			£25,460

(1) Opened in September 2013, Romy’s Kitchen is run by Romy Gill, one of the few female Indian chef/owners on the UK restaurant scene. Romy was appointed an MBE in 2016 and has appeared on Masterchef and Celebrity Masterchef, also having been featured on Saturday Live and BBC Woman’s Hour (Source: www.romyskitchen.co.uk 05/06/2018).
(2) The lease provides a tenant only option to determine on 03/01/2020 subject to 6 months’ notice and a £3,125 penalty payable to the landlord.
(3) The 2018 rent review is outstanding.
(4) The rental income has been annualised.