Shop let to Romy's Kitchen Limited until 2023 (subject to option)
Three residential flats, two on Assured Shorthold Tenancies and one with vacant possession
Market town location north of Bristol
Nearby occupiers include NatWest Bank, Lloyds Bank, Domino’s Pizza and a Co-operative supermarket
Lot 67
Auction 11th July 2018
Rent £25,460 per Annum Exclusive
Status Sold
Price £340,000
Sector Restaurant
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
2 miles north of Bristol
23 miles south-west of Gloucester
Roads
A38, M5, M48, M4
Rail
Yate Rail, Pilning Rail
Air
Bristol International
Situation
Thornbury is a market town located some 12 miles north of Bristol. The property is located in the town centre on the eastern side of Castle Street, close to its junction with the High Street and The Plain. St Mary’s Street Shopping Centre is within a short walk and houses retailers including Lloyds Pharmacy, Costa Coffee, HSBC, Lidl and WHSmith. Other nearby occupiers include NatWest Bank, Lloyds Bank, Domino’s Pizza and a Co-operative supermarket.
Tenure
Freehold.
Location
Miles
2 miles north of Bristol
23 miles south-west of Gloucester
Roads
A38, M5, M48, M4
Rail
Yate Rail, Pilning Rail
Air
Bristol International
Situation
Thornbury is a market town located some 12 miles north of Bristol. The property is located in the town centre on the eastern side of Castle Street, close to its junction with the High Street and The Plain. St Mary’s Street Shopping Centre is within a short walk and houses retailers including Lloyds Pharmacy, Costa Coffee, HSBC, Lidl and WHSmith. Other nearby occupiers include NatWest Bank, Lloyds Bank, Domino’s Pizza and a Co-operative supermarket.
Tenure
Freehold.
Description
The property comprises a ground floor restaurant unit with three self-contained one bedroom residential flats on the upper floors, accessed from Castle Street. The property benefits from a garden area to the rear.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor restaurant unit with three self-contained one bedroom residential flats on the upper floors, accessed from Castle Street. The property benefits from a garden area to the rear.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
2 Castle Street
Ground
Restaurant/ Ancillary
90.86 sq m
(978 sq ft)
ROMY’S KITCHEN LIMITED (1)
10 years from 03/01/2013 on a full repairing and insuring lease (2)
£12,500
03/01/2018 (3) (02/01/2023)
Flat 1
First
Residential
One bedroom flat
INDIVIDUAL
AST from 06/02/2012
£6,360 (4)
Holding over
Flat 2
Second
Residential
One bedroom flat
INDIVIDUALS
AST from 22/05/2015
£6,600 (4)
Holding over
Flat 3
First
Residential
One bedroom flat
VACANT POSSESSION
Total Commercial Area
90.86 sq m
(978 sq ft)
£25,460
(1) Opened in September 2013, Romy’s Kitchen is run by Romy Gill, one of the few female Indian chef/owners on the UK restaurant scene. Romy was appointed an MBE in 2016 and has appeared on Masterchef and Celebrity Masterchef, also having been featured on Saturday Live and BBC Woman’s Hour (Source: www.romyskitchen.co.uk 05/06/2018). (2) The lease provides a tenant only option to determine on 03/01/2020 subject to 6 months’ notice and a £3,125 penalty payable to the landlord. (3) The 2018 rent review is outstanding. (4) The rental income has been annualised.
