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-Ââ€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
Investment Sale 36 Broad Street Bath - Kok UK Limited| Measurement | imperial | metric |
|---|
| Basement | 1,497 sq.ft | 139 sq.m |
| Ground Floor | 1,332 sq.ft | 124 sq.m |
| Total Floor Area | 2,829 sq.ft | 262.81 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 Unit | Tenant | Rental Income | Lease 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 LimitedThe 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
multiâ€storey
car
park
below.
Map
