Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 3 Click here for addendum

Freehold Office Investment (4,676 sq ft) with Redevelopment Potential
On behalf of Trustees - In same ownership for approx. 28 years
8 week completion

Situation

Located close to the junction with Redland Road within this highly sought after residential area, near to local schools, Redland BR Station and the Parkland open space known as Durdham Downs, and only 11/2 miles north of Bristol University Campus and 2 miles north of the City Centre.
Bristol is a major commercial and financial centre with fast links to the M4 and M5, only 12 miles north-west of Bath and 40 miles west of Swindon.

Property

A Detached L-shaped Office Building of brick and stone construction planned on ground and first floors, with replacement windows throughout and off-street parking at the front and side for 9 cars.

Accommodation

Site Width 110 feet
Site Depth 75 feet
Site Area Approx. 6,000 sq.ft (0.14 Acres)

Ground Floor
5 Offices, Kitchen, Store Room, 2 WCs Approx. 1,636 sq ft

First Floor
4 Offices, Kitchen, 4 WCs plus Shower Approx. 1,519 sq ft

Total NIA Approx. 3,155 sq ft
Total GIA Approx. 4,676 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to Air Quality Consultants Limited (having Office locations also in London and Warrington) for a term of 6 years from 1st January 2020 (in occupation since 2008) at a current rent of £52,000 per annum exclusive.

Tenant's Break 1st January 2025 on 6 months' notice.

Note: The lessees are looking to relocate into the City Centre which will probably mean that they will activate their January 2025 break clause if they find new premises.
This will unlock the clear potential to redevelop the site into possibly 3 or 4 terraced houses similar to the development diagonally opposite the property (see photo above), subject to planning and possession.

Click here to view the floor plans.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,000 plus VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

23/25 Coldharbour Road, Redland, Bristol BS6 7JT