Investment Sale Eden House 11-13 Snowdon Road Bristol BS16 2EQ
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Substantial detached building
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Income producing investment
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Residential reversion potential
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Easily accessed from M4 & M5 Motorways
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Attractive Net Initial Yield of 7.5%
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Low Capital Value
For further information or an appointment to view please contact: Alex Riddell T: 0117 988 5269 E:
[email protected] Richard Kidd T: 0117 988 5244 E:
[email protected] gva.co.uk/9950
Location
The rent passing is £40,000 per annum which equates to rent of £8.91 psf.
Eden House is situated in the Bristol surburb of Fishponds, approximately 3 miles North East of Bristol City Centre. The building is located 0.3 miles from the A342 arterial road and approximately 3.5 miles due east of junction 19 of the M5. Snowdon road is principally a residential area, with a mixture of commercial and industrial uses within the surrounding vicinity.
Price We are instructed to seek offers in excess of £510,000 which reflects a net initial yield of 7.49%, subject to usual purchaser’s costs of 4.75%.
Rateable Value Further details are available from the agents.
Description The property is occupied as a day and outreach service for women at risk in the community. The property consists of a detached three storey office building with stonework elevations under a combination of pitched and flat roofs. The ground floor of the building provides a number of training rooms, offices and a commercial kitchen. There is lift access between ground and first floor which provides further cellular office space as well bathroom facilities and the second floor provides further meeting space.
Floor Areas
Legal Costs Each party to be responsible for their own legal costs incurred in any transaction.
EPC C66.
VAT The property is not elected for VAT.
Site Plan The site area is edged in blue on the plan below:
We measured the building on NIA basis and building has the following approximate floor area: Floor
Sq ft
Sq m
Whole building
4,492
417.32
It is worth noting that the building has a large amount corridor which are not included within the NIA areas. The property has a secure car parking area providing 6 spaces and covered cycle storage.
Covenant The property is let to The Bristol, Gloucestershire, Somerset and Wiltshire Community Rehabilitation Company limited who have a strong covenant with a turnover of £11,243,400 and a Dun & Bradstreet rating of 1A1 which represents a minimum risk of business failure.
Occupational lease
For further information or an appointment to view please contact: Alex Riddell T: 0117 988 5269 E:
[email protected] The property is let as a whole on a 5.5 year full repairing and insuring lease expiring on 31 January 2022 with an upwards only rent review at 1 July 2019. The lease is outside the Landlord and Tenant Act 1954. Bilfinger GVA is the trading name of GVA Grimley limited, conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT Reproduced by courtesy of the Controller of HMSO Crown Copyright reserved. Licence No 774359. If applicable, with consent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only.