A potentially high yielding mixed use investment property comprising 2 shops and 5 flats, offering great potential for breakup and resale.
Situated in a prominent position at the start of the vehicular one way system around the town centre is this freehold pair of buildings comprising 2 lock-up A1/A2 commercial units, 3 flats and planning for 2 further flats. The property offers excellent rental potential or could be broken up and sold as individual units. 24 is currently fully let and comprises a large top floor 2 bedroom flat that spans both buildings, a 1 bedroom first floor flat, a ground floor studio flat and a small commercial unit occupied by a hairdressers. 25 comprises a ground floor shop unit currently occupied by the vendor and has planning permission for a large 1 bedroom maisonette which has been started and needs finishing. Alternatively it could be combined with the retail unit to create a larger commercial premises if required. Approached from Bath Street is a large basement that spans both buildings with impressive ceiling heights and the benefit of planning for a 1 bedroom flat.
24 Gloucester Street
Ground Floor A1/A2 commercial unit of approximately 9 sqm. Let on a new tenancy to a hairdresser at £300 pcm. Flat C: a 1 bedroom/studio flat of 24 sqm. Let at £380 pcm. First Floor Flat B: A 1 bedroom flat of 31 sqm. Let at £400 pcm. Top Floor Flat A: a large two bedroom flat of 65 sqm spanning the top floor of both buildings. Let on a new 6 month AST at £650 pcm.
25 Gloucester Street
Ground Floor A1/A2 commercial unit of approximately 10 sqm. Let on a new tenancy at £300pcm. The Maisonette Occupying the rear half of the ground floor and the whole of the first floor and is approximately 48 sqm. The property is currently under construction. We understand that all the necessary fire and sound insulation has been fitted and it has been plaster boarded out with first fix electric and plumbing. It is intended the kitchen and bathroom should be on the ground floor with a large loft style open plan bedroom/living space on the first floor with exposed brickwork and access to a roof terrace.
2 Bath Street
Approached from the rear of Gloucester Street via Bath Street is a large basement spanning both buildings of approximately 51 sqm. It benefits from good ceiling heights of between 2.5m and 2.7m. Planning permission has been granted for a large 1 bedroom flat or alternatively it could be used for commercial use subject to the necessary planning consents.
The top floor flat was already in existence. Planning application S.17/0159/FUL was granted on 07/04/2017 giving consent for the current configuration of two flats and commercial unit in number 24 the commercial unit and maisonette in number 25 and one bedroom flat in the basement.
Thursday 5th September at 3.00pm. Please be at the property at the start time, thank you Wednesday 11th September at 12.00 noon. Please be at the property at the start time, thanks you.
Search Pack Fee
£80 payable upon exchange of contracts.
For sale by auction
On Tuesday, 17th September at 7.00pm at Ashton Gate Stadium, Winterstoke Road, Bristol BS3 2LQ Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding.
A full auction legal pack can be downloaded from www.auctionhousebristol.co.uk once available. For further information on the other lots in this auction please visit the website.
Energy Efficiency Rating (EPC)
Current Rating 24 GS - Flat A & C: E, Flat B: D, Shop: on order. 25 GS - shop and maisonette: E
Stroud District Council
Everys Solicitors, 5 Heron Gate Office Park, Hankridge Way, Taunton, TA1 2LR, Ref: Ms Helen Jones, Tel: 01823 337636
Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.