MapRetail property (high street)
Retail property (high street)
10,250 sq ft / 952 sq m
Features and description
- Tenure: Leasehold
- An unrivalled Food and Beverage location in the centre of Bristol
- Densely populated with students and offices providing both day and evening trade
- Tenants include; Tonkotsu, Rosa’s Thai and Bella Italia. The tenancies provide a AWULT of 11.2 years to expiry and 10.25 years to break
- Ground and basement retail/restaurant units 100% let generating £238,250 per annum
- £3,315,000
Description
Prime Retail / Leisure Investment in Bristol City Centre
Five attractive retail/restaurant units totalling at 10,250 sq ft forming part of a new residential development of 44 apartments completed in 2021
An unrivalled Food and Beverage location in the centre of Bristol
Densely populated with students and offices providing both day and evening trade
Ground and basement retail/restaurant units 100% let generating £238,250 per annum
Tenants include; Tonkotsu, Rosa’s Thai and Bella Italia. The tenancies provide a AWULT of 11.2 years to expiry and 10.25 years to break
Long leasehold 999 years on a peppercorn with opportunity to buy the Freehold with the benefit of residential ground rents
The vendor is seeking offers of £3,315,000, (Three Million Three Hundred and Fifteen Thousand Pounds) exclusive of VAT and subject to contract.
A purchase at this level reflects a net initial yield of 6.75% assuming purchaser’s costs of 6.49%.
Location
Alliance House is situated on Baldwin Street, a lively and vibrant area of the city, benefitting from being both a cultural hub and thriving commercial centre point for students and professionals between King Street and Corn Street. The area has many student developments Including multiple Unite schemes (Waverley & Favell House) and Market Quarter Studios. There are approximately 1,000 beds within a 2 min walk of the subject. Baldwin Street is a popular leisure destination for late night F&B operators including Popworld, Tonight Josephine, Brew Dog and NQ64. It also provides independent food outlets offering a variety of global cuisines.
Prime Retail / Leisure Investment in Bristol City Centre
Five attractive retail/restaurant units totalling at 10,250 sq ft forming part of a new residential development of 44 apartments completed in 2021
An unrivalled Food and Beverage location in the centre of Bristol
Densely populated with students and offices providing both day and evening trade
Ground and basement retail/restaurant units 100% let generating £238,250 per annum
Tenants include; Tonkotsu, Rosa’s Thai and Bella Italia. The tenancies provide a AWULT of 11.2 years to expiry and 10.25 years to break
Long leasehold 999 years on a peppercorn with opportunity to buy the Freehold with the benefit of residential ground rents
The vendor is seeking offers of £3,315,000, (Three Million Three Hundred and Fifteen Thousand Pounds) exclusive of VAT and subject to contract.
A purchase at this level reflects a net initial yield of 6.75% assuming purchaser’s costs of 6.49%.
Location
Alliance House is situated on Baldwin Street, a lively and vibrant area of the city, benefitting from being both a cultural hub and thriving commercial centre point for students and professionals between King Street and Corn Street. The area has many student developments Including multiple Unite schemes (Waverley & Favell House) and Market Quarter Studios. There are approximately 1,000 beds within a 2 min walk of the subject. Baldwin Street is a popular leisure destination for late night F&B operators including Popworld, Tonight Josephine, Brew Dog and NQ64. It also provides independent food outlets offering a variety of global cuisines.
Property information from this agent
About this agent
Avison Young creates economic, social and environmental value as a global real estate advisor, powered by people. At Avison Young, we believe in creating positive impact wherever we go. There is a vital role for commercial real estate to create healthy, productive workplaces for employees, cities that are centres of prosperity for its citizens, and built spaces and places that create a net benefit to the economy, the environment and the community. Our nimble, agile team has global insight, local market expertise and access to some of the smartest technology in the commercial real estate industry – all at the ready to work on creating your competitive advantage. As a private company, you will collaborate with an empowered partner who is invested in your success as much as you are.