Summary
Long-income, mixed-use commercial investment completed in 2021, comprising a convenience store, nursery and retail investment opportunity.
| Property Type |
Investment |
| Tenure |
For Sale |
| Size |
10,559 sq ft |
| Price |
Offers in excess of £2,844,000 |
| Rates Payable |
Upon Enquiry |
- Situated close to the former Filton Airfield site, a 354-acre development comprising a planned 2,675 new homes, 62 acres of employment space, parkland, schools, a new train station and 17,000 capacity music, sports and entertainment arena.
- The property extends to 10,559 sq ft arranged over three ground floor units, and includes 30 car parking spaces. The upper parts have been sold off.
- 999 year long-leasehold basis from 1st January 2010 at £275 per annum.
- Multi-let to three tenants: Sainsbury’s Supermarkets Ltd, Gourmer Bristol Ltd and Happy Days Day Nurseries Ltd.
- The Gourmer Bristol unit has a fixed minimum rental increase to £30,800 pa in 2026 and the Happy Days Nurseries lease includes 5 yearly uncapped CPI linked reviews.
- 83% of income is secured against Creditsafe ‘Very Low Risk’ rated covenants.
- Let with an attractive WAULT of 17 years, 11 months to expiry, 12 years, 1 month to earliest break options.
- Total current passing rent of £169,120 per annum.
- Offers sought in excess of £2,844,000 representing a net initial yield of 5.58%, after standard purchasers’ costs.
