Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
120 miles west of London, 80 miles south of Birmingham, 50 miles east of Cardiff
Roads
A38, A4032, M23 (Junctions 3)
Rail
Bristol Temple Meads Rail
Air
Bristol International Airport
Situation
The property is situated within Bristol City Centre a prominent corner location on the southern side of The Horsefair at its junction with the pedestrianised Merchant Street, which acts as a thoroughfare to and from Broadmead, Bristol’s prime retailing pitch. The property is situated opposite Debenhams Department Store and is a short walk away from The Galleries Shopping Centre, Cabot Circus Shopping Centre and Bristol Bus and Coach Station. Other nearby occupiers include Primark, Marks & Spencer, BHS, Greggs and Burger King.
Tenure
Leasehold. Held for a term of 99 years until 23rd November 2054 at a ground rent of £1,200 per annum. The lease is contracted within the Landlord and Tenant Act 1954.
Location
Miles
120 miles west of London, 80 miles south of Birmingham, 50 miles east of Cardiff
Roads
A38, A4032, M23 (Junctions 3)
Rail
Bristol Temple Meads Rail
Air
Bristol International Airport
Situation
The property is situated within Bristol City Centre a prominent corner location on the southern side of The Horsefair at its junction with the pedestrianised Merchant Street, which acts as a thoroughfare to and from Broadmead, Bristol’s prime retailing pitch. The property is situated opposite Debenhams Department Store and is a short walk away from The Galleries Shopping Centre, Cabot Circus Shopping Centre and Bristol Bus and Coach Station. Other nearby occupiers include Primark, Marks & Spencer, BHS, Greggs and Burger King.
Tenure
Leasehold. Held for a term of 99 years until 23rd November 2054 at a ground rent of £1,200 per annum. The lease is contracted within the Landlord and Tenant Act 1954.
Description
The property comprises a retail unit over ground and part first floor retail with ancillary accommodation on the remaining.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a retail unit over ground and part first floor retail with ancillary accommodation on the remaining.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x. (Gross)
Review
Ground First Second
Retail Retail/Ancillary Ancillary
117.51 sq m 96.46 sq m 88.12 sq m
(1,264 sq ft) (1,038 sq ft) (948 sq ft)
STARBUCKS COFFEE COMPANY (UK) LTD (1)
18 years from 06/07/2007 until 08/02/2025 (2)
£115,000
06/07/2022 (2)
Totals
302.09 sq m
(3,250 sq ft)
£115,000
(1) For the year ending 28th February 2014, Starbucks Coffee Company (UK) Ltd reported a turnover of £408,721,070, pre-tax profits of £1,056,196 and a total net worth of £35,513,082. (Source: Experian Group 09/11/2015) (2) The current lease is for a term of 10 years from 6th July 2007 at a rent of £115,000. A reversionary lease is in place from the expiry of the current term until 8th February 2025 at a rent of £78,750 p.a.x. The rental income from 6th July 2017 will therefore be £78,750 p.a. (Gross).