Mixed Use
This mid-terrace three storey Grade 2 listed building fronts St Nicholas Street in a prominent city centre location.
Set up as a restaurant along with basement, which has been fitted to a high standard internally. Gross internal area is approximately 648 sq foot for the ground floor and 689 sq foot for the basement.
Accessed via a separate staircase and comprises a three bedroomed apartment, having been recently refurbished.
Accessed via a separate staircase and comprises of a two bedroomed apartment, having been recently refurbished.
The property is located on St Nicholas Street in the heart of Bristol city centre and within walking distance of Temple Meads, Broadmead and Cabot Circus. It is conveniently located within an area of bars, restaurants, amenities and transport links.
We understand the property is subject to the following tenancies:
Ground floor: commercial unit let to Mugshot Restaurants on a 20-year lease commencing September 2018 with no break options and rent reviews every 5 years (upward only) and a current rent passing of £24,000 per annum.
First floor: residential unit on a 6 month Assured Shorthold Tenancy with a current rental income £1,400 pcm.
Second floor: residential unit on a 6 month Assured Shorthold Tenancy with a current rental income of £1,400pcm
We have not had site of the leases or agreements and would advise interested parties to inspect the legal pack for more information.
We understand that VAT will not be chargeable on this transaction.
Freehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
