48 The Horsefair Bristol BS1 3JE

48 The Horsefair
Bristol
BS1 3JE

City Centre Retail Investment

  • Let to Starbucks Coffee Company (UK) Ltd until 2025 (no breaks)
  • Prominent corner position in an established retailing area
  • The property sits within a short walk of The Galleries Shopping Centre, Cabot Circus Shopping Centre and Bristol Bus and Coach Station
  • Nearby occupiers include Primark, Marks & Spencer, BHS, Greggs and Burger King
  • Rent of £115,000 p.a.x. (gross) £113,800 p.a.x. (net) See note 2
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    28
  • Auction
    10th December 2015
  • Rent
    Gross: £115,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £905,000
  • Sector
    High Street Retail
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

City Centre Retail Investment

  • Let to Starbucks Coffee Company (UK) Ltd until 2025 (no breaks)
  • Prominent corner position in an established retailing area
  • The property sits within a short walk of The Galleries Shopping Centre, Cabot Circus Shopping Centre and Bristol Bus and Coach Station
  • Nearby occupiers include Primark, Marks & Spencer, BHS, Greggs and Burger King
  • Rent of £115,000 p.a.x. (gross) £113,800 p.a.x. (net) See note 2
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 28
  • Auction 10th December 2015
  • Rent
  • Status Sold
  • Price £905,000
  • Sector
    High Street Retail
  • 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).

Property Documents

  • Site Plan
    Updated Date
    17.11.15
    File Size
    87 KB
    View PDF
  • Catalogue Page
    Updated Date
    17.11.15
    File Size
    542 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Gowling WLG 4 More London Riverside
London
SE1 2AU
020 7173 8532
Jon Lloyd 0207 759 6532jon.lloyd@wragge-law.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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