A high yielding commercial investment opportunity let on a Full Repairing and Insuring Lease offering a gross annual rent of circa 8% based on the guide price.

A high yielding commercial investment opportunity let on a Full Repairing and Insuring Lease offering a gross annual rent of circa 8% based on the guide price.

This is a substantial two storey property situated in prominent position, adjoining the Kingswood Clocktower which was built in 1897 for Queen Victoria's Dimond Jubilee. Regent Street is a popular shopping high street with a range of local and national retailers and lies some 3 miles east of Bristol city centre. The property has been in long term use as a fish and chip shop presently trading as Clock Tower Fish Bar.

The accommodation briefly comprises ground floor restaurant and kitchen, first floor former restaurant space now used for storage and an office. Outside to the rear is courtyard with covered seating area, outbuilding with W.C and store room. A further yard area lies beyond the courtyard.

Possession The property is sold subject to the existing tenancy. We understand the current rent is £17,500 rising to £19,000 in October and that the current tenant has requested a new 10 year tenancy which will be completed prior to completion.
Business Rates The current Rateable Value until 31st March 2023 is £15,750. The future Rateable Value from 1st April 2023 will be £14,250.
Viewings By appointment with City & Rural Property Auctions
For Sale by Live Stream Auction on 16th May 2023 In order to take part you must complete the registration form and return it together with two forms of ID. You will then be able to bid from the luxury of your own home either over the internet, by phone or by proxy. Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding.
Legal Pack A full auction legal pack can be downloaded once available. For further information on the other lots in this auction please visit the website.

Tenure: Freehold

EPC Rating: On order

Terms:
Guide Prices & Reserves
Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Additional Fees
Please be aware there may be additional fees payable on top of the final sale price. These include and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.

Plans, Maps and Photographs
The plans, floorplans, maps, photograph’s and video tours published on our website and in the catalogue are to aid identification of the property only. The plans are not to scale and should not be relied upon.

Consumer Protection Regulations 2008
City & Rural Property Auctions 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 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.

Anti Money Laundering Regulations
Intending buyers will be asked to produce identification documentation either as part of the bidder registration process of if they make an acceptable pre-auction offer, we would ask for your co-operation in order that there will be no delay in agreeing the sale.

Control of Asbestos Regulations
As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. City & Rural Property Auctions have not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.

Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1500 inc VAT, payable on exchange of contracts.

Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.