Available
Weston-Super-Mare – Restaurant/Bar & 3 Flats
24 Regent Street & 1 Saint James Street, Weston-Super-Mare BS23 1SQFreehold Restaurant/Bar & Residential Investment
Price
£900,000
Rent P.A.
£18,780
Yield
ERV: £70,780
Tenure
Freehold
Area
4,563 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- ERV: £70,780 p.a. GIY: 7.86%
- Comprises restaurant/bar and 3 self-contained residential flats (2 x 1-Bed and 1 x 2-Bed)
- Total retail and residential net internal area of 423.60 sq m (4,563 sq ft)
- Occupiers nearby include McDonalds, HSBC, Costa Coffee, Greggs and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises three-storey (plus small basement) building arranged as a ground and first floor restaurant/bar with
2 x 1-Bed Flats to the Second Floor and 2-Bed Maisonette to the rear of the property accessed from the ground floor.
No.24 Regent Street - Retail
Ground Floor: 176.10 sq m (1,897 sq ft)
Restaurant Seating Area, Bar, Storage, Kitchen, WCs
First Floor: 77.10 sq m (830 sq ft)
Seating Area, Office
Basement Storage: 22.50 sq m (243 sq ft)
No.24 Regent Street - Residential
Second Floor Flat 1: 43.50 sq m (469 sq ft)
1 Bedroom, Kitchen, Living/Dining Room, Bathroom
Second Floor Flat 2: 50.00 sq m (538 sq ft)
1 Bedroom, Kitchen, Living/Dining Room, Bathroom
No.1 St James Street - Residential
Ground/First Floor Maisonette: 54.40 sq m (586 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom
Total Retail NIA: 275.70 sq m (2,970 sq ft)
Total Residential NIA: 147.90 sq m (1,593 sq ft)
2 x 1-Bed Flats to the Second Floor and 2-Bed Maisonette to the rear of the property accessed from the ground floor.
No.24 Regent Street - Retail
Ground Floor: 176.10 sq m (1,897 sq ft)
Restaurant Seating Area, Bar, Storage, Kitchen, WCs
First Floor: 77.10 sq m (830 sq ft)
Seating Area, Office
Basement Storage: 22.50 sq m (243 sq ft)
No.24 Regent Street - Residential
Second Floor Flat 1: 43.50 sq m (469 sq ft)
1 Bedroom, Kitchen, Living/Dining Room, Bathroom
Second Floor Flat 2: 50.00 sq m (538 sq ft)
1 Bedroom, Kitchen, Living/Dining Room, Bathroom
No.1 St James Street - Residential
Ground/First Floor Maisonette: 54.40 sq m (586 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom
Total Retail NIA: 275.70 sq m (2,970 sq ft)
Total Residential NIA: 147.90 sq m (1,593 sq ft)
Tenancy Description
The restaurant is at present vacant. ERV £52,000 p.a.
Flat 1 is at present let on AST to an Individual for a term of 6 months from 1st December 2019 at a current rent of £6,300 p.a. (Holding over)
Flat 2 is at present let on AST to an Individual for a term of 6 months from 1st July 2020 at a current rent of £6,600 p.a. (Holding over)
Maisonette (No.1 St James Street) is at present let on AST to an Individual for a term of 6 months from 1st July 2020 at a current rent of £5,880 p.a. (Holding over)
Flat 1 is at present let on AST to an Individual for a term of 6 months from 1st December 2019 at a current rent of £6,300 p.a. (Holding over)
Flat 2 is at present let on AST to an Individual for a term of 6 months from 1st July 2020 at a current rent of £6,600 p.a. (Holding over)
Maisonette (No.1 St James Street) is at present let on AST to an Individual for a term of 6 months from 1st July 2020 at a current rent of £5,880 p.a. (Holding over)
Tenancies & Accommodation
Location Description
Weston-super-Mare has a population in the region of 76,143 (2011 census), and is the largest town in North Somerset, located approximately 24 miles south west of Bristol and 4 miles to the west of Junction 21 of the M5 motorway. Bristol International Airport is approximately 15 miles from the town, which is also served by intercity railway stations at Worle on the outskirts and in Weston-super-Mare town centre itself, with regular services to Bristol and London, Paddington. The property is located on Regent Street, a central road in the shopping precinct of Weston-super-Mare that connects the Seafront Promenade and pier to arterial route Locking Road (B3440) which in turn connects to the M5 motorway. Occupiers nearby include McDonalds, HSBC, Costa Coffee, Greggs and more.
