Clean up with retail investment
A retail property in the Bristol suburb of Redfield has become available to buy as an investment opportunity.
Property consultancy Myddelton & Major has been instructed to market Unit 1 at 144-150 Church Road.
Quoting price for the property, with a 741 sq ft (68.84 sq m) net sales area, is £235,000 on a 999-year lease.
The premises are let on a 20-year lease until 2029, trading as Whites Launderette, generating £16,500 per annum in rent.
Myddelton & Major Partner Simon Lee said: “This would make a perfect addition to a commercial property portfolio – it is well established and offers a good income.
“It is located in a busy area and its proximity to the city centre, plus the relatively low cost of housing, has made Redfield attractive to young couples and professionals moving to Bristol from London and the south east.”
Redfield is an established mixed commercial and residential suburb of Bristol approximately two miles east of the city centre.
The property fronts Church Road (A420), between the junctions of Lypplatt Road and Roseberry Park, with nearby occupiers including Tesco Metro, Lloyds Pharmacy, Blue Sky Café and RQ’s Barber Shop.
It comprises a ground floor retail launderette as part of a modern block with a glazed window display and double door entrance into an open plan sales area, with partitioned rear office and separate WC, together with external rear access to a small yard/bin store area and shared rear car park.
Myddelton & Major is an independent firm of chartered surveyors established in High Street, Salisbury, in 1903 and provides advice on sales, lettings and acquisitions of commercial and residential property right across central southern England.
Myddelton & Major was named the most active agency in Wiltshire in 2018 for the seventh year running by Estates Gazette, the weekly and online magazine of the UK commercial property industry.
Contact Myddelton & Major for more details of properties on 01722 337577 or visit www.myddeltonmajor.co.uk.