Convenience Store, Public House and Residential Ground Rent Investment
Comprising Convenience Store, Public House and 6 Flats (sold off)
Convenience Store Let to The Southern Co-Operative Ltd Until July 2028
Public House Let until August 2033
Densely populated residential suburb of Bristol
Located opposite a popular retail parade
Lot 3
Auction 15th February 2024
Rent £68,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail, Residential
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4 miles east of Bristol City Centre, 6 miles north west of Bath
Roads
A431, A420, A4174, M4
Rail
Keynsham Railway Station
Air
Bristol Airport
Situation
The property is located in the popular Bristol suburb of Cadbury Heath, to the west of the city centre. The property is prominently situated on the corner of Newton Road and School Road with frontage onto Coronation Park. The immediate vicinity provides a a selection of local retailers, including a Boots Chemist, and takeaways servicing the wider residential area.
Tenure
Freehold.
Location
Miles
4 miles east of Bristol City Centre, 6 miles north west of Bath
Roads
A431, A420, A4174, M4
Rail
Keynsham Railway Station
Air
Bristol Airport
Situation
The property is located in the popular Bristol suburb of Cadbury Heath, to the west of the city centre. The property is prominently situated on the corner of Newton Road and School Road with frontage onto Coronation Park. The immediate vicinity provides a a selection of local retailers, including a Boots Chemist, and takeaways servicing the wider residential area.
Tenure
Freehold.
Description
The property comprises a substantial mixed-use building currently arranged to provide a ground floor convenience store, ground floor public house with first floor managers accommodation together with 6 flats on the remainder of the first floor, each with a car parking space, which have been sold off on long leases. The property benefits from approximately 17 car parking spaces across two separate areas and a pub garden facing Coronation Park.
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
The property comprises a substantial mixed-use building currently arranged to provide a ground floor convenience store, ground floor public house with first floor managers accommodation together with 6 flats on the remainder of the first floor, each with a car parking space, which have been sold off on long leases. The property benefits from approximately 17 car parking spaces across two separate areas and a pub garden facing Coronation Park.
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
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Rent Review
Ground
Convenience Store
304.62
(3,278)
THE SOUTHERN CO-OPERATIVE LTD t/a The Co-Operative Food (1)
15 years from 01/08/2013
£46,700
Ground First
Public House Managers Accommodation
272.00
(2,928)
CHAMPION INNS LTD t/a The Lamb
10 years from 29/08/2023 (2)
£21,000
29/08/2028
First
6 Flats
-
-
Let on 6 x separate leases to Individuals
Each for a term of 999 years from January 2013
£300
Total
576.62
(6,206) (3)
£68,000
(1) Southern Co-op is a regional, independent co-operative operating more than 300 food, funeral and Starbucks coffee branches across the south of England. For the year ending 29th January 2023, Southern Co-operative Limited reported a Turnover of £515,407,000 and Net Assets of £184,655,000 (www.southern.coop 05/01/2024). (2) The lease provides for a mutual option to determine the lease on the 5th anniversary of the term. (3) The convenience store floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
