354, Gloucester Road, Horfield, BS7 8TP

THE PROPERTY

ADDRESS | 354 Gloucester Rd, Horfield, Bristol BS7 8TP

A Leasehold mid terraced mixed use property with accommodation ( XX Sq Ft ) comprising ( refer to floorplans )

GROUND FLOOR
Retail Unit with small courtyard.
Self contained Rear 1 Bedroom Flat with small courtyard
Small office space with small courtyard.

FIRST FLOOR
Self contained two bedroom flat.

The property has been well maintained with a new flat roof to the rear recently installed - please refer to online legal pack - but would overall benefit from some basic updating. Please note the main tiled roof is also new with work carried out in summer 2022.

Tenure - Leasehold
Council Tax - A
Business Rates - Rateable Value £10,750
EPC - Retail B | Garden Flat C | First Floor Flat C
Utilities, Rights & Restrictions - Please refer to the Legal Pack
Flood Risk - Please refer to the Legal Pack

THE OPPORTUNITY

MIXED USE INVESTMENT | £35,400 PA

The property is fully let producing £35,400 pa as follows

Retail Unit - FRI lease for a term of 5 years from 9th May 2023 £8,400 pa ( Note - Rent Review 9th May 2026 | Tenant Break option 8th May 2025 - 3 months notice )
1 Bed Flat - Let on rolling AST producing £950 pcm
Rear Office - Vacant / Vendor uses
2 Bed Flat Let on rolling AST producing £1300 pcm

INCREASE RENTS

There is scope to increase the rental income in a variety of ways

1 BED FLAT = 2 BED

If the rear elevated section of the shop were partitioned off and incorporated within the rear flat this would create a 2nd large en suite bedroom.
Likewise the current bedroom could be Incorporated into the rear office to create a large en suite bedroom.
Finally the 3 separate small courtyards could now be combined into a single generous rear garden for use of the flat.
This would result in a self contained flat with two large en suite bedrooms, living space and garden.

NB - Whilst this will reduce the rental income of the retail unit the uplift in rental income from the above scheme will mitigate this. There is also scope to create the ancillary / bathroom space required for the shop under the stairs.

FIRST FLOOR FLAT

The flat has been well maintained but let for many years and subject to some basic updating there is cope to increase the rent.

ATTIC CONVERSION

Similar properties have converted the large attic space to either create an additional dwelling or upper maisonette.

All subject to gaining the necessary consents.

LOCATION

The property has an excellent position on the Gloucester Road with its eclectic range of shops and restaurant and close to the city centre with its business areas, shopping and leisure opportunities as well as some of the major institutions of Bristol including the University of Bristol, UWE and the BRI.

RENTAL APPRAISAL

What rent can we achieve for you?

The Bristol Residential Letting Co. are confident this property would make a good rental investment if brought to a standard suitable for the professional rental market. Danny Dean of The Bristol Residential Letting Co suggests a rent in the region of;

354, Gloucester Road, GFF 1 bed – £1000pcm - £1100pcm, converted into a 2 bed - 2 bed - £1400pcm - £1500pcm | FFF, 2 bed - £1400pcm - £1500pcm

If you would like to discuss more detail on the potential for rental, you can call me on 07738766640 or email (danny@bristolreslet.com) for a no obligation discussion. I am always happy to advise investors on maximising their investment.

PROPERTY DETAILS DISCLAIMER

Hollis Morgan endeavour to make our sales details clear, accurate and reliable in line with the Consumer Protection from Unfair Trading Regulations 2008 but they should not be relied on as statements or representations of fact, and they do not constitute any part of an offer or contract. All Hollis Morgan references to planning, tenants, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack. It should not be assumed that this property has all the necessary Planning, Building Regulation, or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide-angle lens. The seller does not make any representation or give any warranty in relation to the property, and we have no authority to do so on behalf of the seller.