Acquired
Westbury On Trym – 1 Shop & Ground Rent
1/5 Concorde Drive, Westbury On Trym, Bristol BS10 6PZFreehold Retail & Residential Ground Rent Investment
Tenure
Freehold
Lease Term
10 Years
Years Left on Lease
9m
Area
936 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises detached retail and residential parade
- Conveniently located between M5, M4 and M32
- Within walking distance to David Lloyd Leisure Centre, amongst other retailers such as nursery, dentist and more
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises a detached retail and residential parade. Flats 1-5 and Retail Units 1,3,4,5 have been sold off on long leaseholds. Unit 2 is at present occupied by a successful veterinary chain with 7 locations in Bristol.
The property provides the following accommodation and dimensions:
Unit 2: Retail Shop - 87 sq m (936 sq ft)
The property provides the following accommodation and dimensions:
Unit 2: Retail Shop - 87 sq m (936 sq ft)
Tenancy Description
Unit 2 is at present let to Zetland Vet Group for a term of 10 years from 1st October 2015 at a current rent of £13,500 per annum and the lease contains full repairing and insuring covenants. No breaks. Units 1/3 have been sold-off on long leaseholds for a term of 999 Years from 2021 at a current ground rent of peppercorn. Units 4/5 have been sold-off on long leaseholds for a term of 999 Years from 1978 at a current ground rent of £2 per annum. Flats 1-5 have been sold-off on long leaseholds for a term of 999 Years from 1978 at a current ground rent of £200 per annum.
Tenancies & Accommodation
Location Description
Bristol is the most populous city in South West England and the wider Bristol Built-Up Area has the 10th-largest population in England. The M4 motorway connects the city on an east–west axis from London to West Wales, and the M5 is a north–south west axis from Birmingham to Exeter. The M49 motorway is a shortcut between the M5 in the south and the M4 Severn Crossing in the west, and the M32 is a spur from the M4 to the city centre. The property is located within walking distance to David Lloyd Leisure Centre, amongst other retailers such as nursery, dentist and more.
