Prominent Restaurant in affluent Bristol Suburb, close to Bristol University
Diagonally opposite Clifton Down Shopping Centre
Close to Clifton Down Railway Station
Nearby occupiers include Coop, Subway, Coral, Boots, Costa and Dominos
VAT-free investment
Lot 4
Auction 31st March 2022
Rent £39,000 per Annum Exclusive (1)
Status Sold
Price £450,000
Sector Restaurant
Auction Venue Live Streamed Auction
Property Information
Location
Miles
13 miles west of Bath, 50 miles east of Cardiff
Roads
A38, A4032, M32, M4
Rail
Bristol Temple Meads (1hr 40 mins to London Paddington)
Air
Bristol International Airport
Situation
Clifton is an affluent suburb of Bristol, located less than a mile west of the city centre. Clifton is a popular residential and commercial area, being home to a number of Bristol University buildings (student body of over 20,000). Whiteladies Road (A4108) is a busy thoroughfare leading to the city centre via Park Row. Bristol Grammar School and Bristol Lido are all within walking distance. The property is location on Whiteladies Road close to its junction with Cotham Hill and diagonally opposite Clifton Down Shopping Centre and near to the railway station. Nearby occupiers include Coop, Subway, Coral, Boots, Costa and Dominos together with a number of specialist retailers.
Tenure
Freehold.
Location
Miles
13 miles west of Bath, 50 miles east of Cardiff
Roads
A38, A4032, M32, M4
Rail
Bristol Temple Meads (1hr 40 mins to London Paddington)
Air
Bristol International Airport
Situation
Clifton is an affluent suburb of Bristol, located less than a mile west of the city centre. Clifton is a popular residential and commercial area, being home to a number of Bristol University buildings (student body of over 20,000). Whiteladies Road (A4108) is a busy thoroughfare leading to the city centre via Park Row. Bristol Grammar School and Bristol Lido are all within walking distance. The property is location on Whiteladies Road close to its junction with Cotham Hill and diagonally opposite Clifton Down Shopping Centre and near to the railway station. Nearby occupiers include Coop, Subway, Coral, Boots, Costa and Dominos together with a number of specialist retailers.
Tenure
Freehold.
Description
The property comprises a ground floor restaurant with first and second floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
Completion Period
6 week completion
EPC
Band C . See legal pack
Description
The property comprises a ground floor restaurant with first and second floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
Completion Period
6 week completion
EPC
Band C . See legal pack
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx sq m)
Floor Areas (Approx sq ft)
Tenant
Term
Rent p.a.x.
Reversion
Ground First Second
Restaurant Ancillary Ancillary
110.47 sq m 52.40 sq m 49.30 sq m
(1,189 sq ft) (564 sq ft) (530 sq ft)
HUB BOX LIMITED (2) t/a HUBBOX
25 years from 29/09/1998
£39,000 (1)
28/09/2023
212.17 sq m (3)
(2,283 sq ft) (3)
£39,000 per annum plus an additional £3,545 per annum until 24/06/2023 (1)
(1) In a Deed of Variation dated 24/09/2020, the tenant is to pay £886.36 every rental quarter (£3,545 pa) until 24/06/2023, for rent cessation, during Covid lockdowns. (2) Hub box trades from 11 restaurants in the southwest (Source : www.hubbox.co.uk/restaurants/) For the year ended 31/12/2020 Hub Box Limited reported a turnover of £7,229,961, pre tax loss of £573,880 and shareholders funds of £319,364 (Source : Companies House 25/02/2022) (3) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk)
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
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