Retail Investment Opportunity in Bath

Investment Sale

36 Broad Street Bath Somerset BA1 5LP

Investment Property For Sale: £850,000
Total Floor Area: 263 sq.m/2,829 sq.ft
Net Investment Income: £57,500 per annum
Net Investment Yield: 6.39%




Last updated: 03 Sep 2015 Ref: 36BroadSt

Property Description

The property comprises a restaurant over the ground floor and basement of a five storey Grade II Listed building. The first, second and third floors are in residen8al use and benefit from a self-­‐contained access from Broad Street. he ground floor comprises a bar and sea8ng area with a mezzanine floor to the rear of the restaurant. There is further sea8ng to the basement, together with storage, kitchen and ancillary accommoda8on. The property has recently been fiZed out to a high standard, the tenant having moved into the property in early January 2013.

Measurements

  • Net Internal Floor Area
Investment Sale 36 Broad Street Bath - Kok UK Limited
Measurementimperialmetric
Basement1,497 sq.ft139 sq.m
Ground Floor1,332 sq.ft124 sq.m
Total Floor Area2,829 sq.ft262.81 sq.m


Agent's Disclaimer

These particulars do not constitute an offer or contract and although they are believed to be correct, their accuracy cannot be guaranteed and purchasers must satisfy themselves as to their accuracy. No person representing Colston & Colston has any authority to make any representation or warranty whatever in respect of the property. All measurements are approximate. Under the Finance Acts 1989 & 1997, VAT may be levied on the rent or sale price.


Sale Terms

Offers are sought in excess of £850,000 subject to contract and exclusive of VAT. A purchase at this price would reflect a net initial yield of 6.39% after allowing for usual purchaser’s costs of 5.8%, and a capital value of £301 per sq ft.


Tenant, lease and rent summary

36 Broad Street Bath BA1 5LP
Retail UnitTenantRental IncomeLease Dates
Investment Sale Kok UK Limited £57,500 14.01.13 -start
13.01.28 -expiry
No -break
Total Rent £57,500


Covenant Information:

Kok UK Limited

The property is let to Koh (UK) Limited on an effectively full repairing lease from 14th January 2013 for a term of 15 years. The passing rent is £55,000pa, which is to be stepped up to £57,500 in January 2015, and £60,000 in January 2016, and then subsequently reviewed to the greater of open market rent or the passing in January 2018 and every 5th anniversary thereafter. The lease is contracted within the security of tenure provisions of the Landlord and Tenant Act 1954.

Agent's Disclaimer

These particulars do not constitute an offer or contract and although they are believed to be correct, their accuracy cannot be guaranteed and purchasers must satisfy themselves as to their accuracy. No person representing Colston & Colston has any authority to make any representation or warranty whatever in respect of the property. All measurements are approximate. Under the Finance Acts 1989 & 1997, VAT may be levied on the rent or sale price.


Plans/drawings for this property:


Property Location

The affluent Roman City of Bath is a popular commercial centre attracting a wide range of businesses as well as being a renowned retailing and tourism destination. It has a residential population of over 80,000 and annual visitor numbers exceeding 4 million at the last Census. Bath is served by excellent transport routes, including frequent train services to Bristol and London Paddington.Broad Street is situated in Bath city centre. The immediate locality provides a range of shops, both na8onal and independent, including home store Rossiters of Bath, Cath Kidston, Phase Eight and Salcombe Trading, as well as the main city Post Office. Waitrose and John Lewis Home is also close by, with a 550 space multi‐storey car park below.

Map



ColstonAndColston
Agents Contact Details

Name: Allan Lloyd
Company: Colston & Colston
Address: 1 Queen Square Bath Somerset BA1 2HA
Email:
Email the agent
Direct Dial: (01225) 904704
Mobile: 07527 388036





Download pdf brochure Brochure for:  36 Broad Street  Bath Somerset  BA1 5LP. Investment Property For Sale: £850,000. Total Floor Area: 263 sq.m/2,829 sq.ft. Net Investment Income: £57,500

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