£350,000 /Sale price

LOCATION The property is located on the junction of King Square Avenue and Stokes Croft (A38), a central area of Bristol within short walking distance of Broadmead and Cabot Circus. This is a fashionable area of Bristol city centre with a range of modern restaurants and bars within close proximity. The A38 is a main arterial route into Bristol provides easy access to the M32/M5/ M4 motorway network. DESCRIPTION The property itself comprises a ground floor modern office suite constructed circa 2010. The offices form part of a predominantly residential building. Internally the offices have painted plaster walls, raised floor, suspended LED lighting and air conditioning installed. There is no parking on site. ACCOMMODATION The property has been measured in accordance with the RICS Code of Measuring Practice (Sixth Edition) the property comprises the following (approx.) areas:- Description Sq M Sq Ft Ground Floor 159.1 1714 TENURE The property is held on a lease for a term of 999 years at an initial rent of £500 per annum from 1 December 2005. The premises is let to The E Cancer Global Foundation, Company Number CE012685, a charitable incorporated organisation registered with Charity Number 1176307. The lease is for a term of 5 years at an initial rent of £12,000 per annum, rising to £30,000 per annum in years 2-5 on effectively full repairing and insuring terms from 14 August 2024. There is a tenant only break clause on 14 August 2027 subject to 12 months prior notice. The lease is excluded from the Security of Tenure Provisions of the Landlord & Tenant Act 1954. ASKING PRICE £400,000.00 subject to contract, (net initial yield of 7.2%), plus VAT. BUSINESS RATES The Valuation Office Agency website states the premises are currently assessed for Business Rates as: Offices & Premises Rateable Value: £19,250 Interested parties are advised to make their own enquiries with Bristol City Council to ascertain the exact rates payable. COSTS Each party to bear their own legal costs incurred in the transaction. VAT All prices are quoted exclusive of VAT whether or not chargeable. We believe VAT is chargeable and this will be confirmed. PLANNING We have not made any enquiries with Bristol City Council with regards to the current planning consent, however, we have assumed that the property has planning for Class E use use under the Town & Country Planning (Use Classes) Order 1987 (Amended Sept 2020). The property has been used as an office building a number of years. Interested parties are advised to make their own enquiries to ensure their proposed use would be permitted. ENERGY PERFORMANCE CERTIFICATE (EPC) The EPC for this property has been commissioned. VIEWING & FURTHER INFORMATION Through sole agents Bladen Commercial Property Consultants Ltd:- Julian Bladen MRICS SUBJECT TO CONTRACT November 2024