1 bedroom end of terrace house for sale

DESCRIPTION
The property is Grade II Listed with Georgian Bath stone elevations beneath a slate mansard roof. The property is mixed use with commercial space on the ground floor and basement with residential use on the first, and second floors. The upper floors consist of a one-bedroom maisonette and have previously been subject to an AST, but are now vacant.

TENURE & TENANCY
Freehold investment sale.
11 Princes Street is currently part occupied.
The ground floor and basement are let to B Squared Coffee Limited (trading as No.11 Espresso Bar) for a term of 5 years from 11th December 2020 at a passing rent of £8,000 per annum. The lease is excluded from the Landlord and Tenant 1954 Act provisions.
The first and second floor have previously been subject to a AST but are now vacant.
The EPC will be made available on application
The council tax band is: C
We are instructed to seek offers in excess of:
£350,000
Subject to contract and exclusive of VAT.
Offers should clearly state the following:
i) The identity of the party making the offer.
ii) Confirmation and proof of funding demonstrating an ability to exchange and complete the purchase within a declared timescale.
iii) Proposed timescale for exchange and completion.
iv) Any conditions attached to the bid.
v) Offers are preferred to be on an unconditional basis.
vi) Confirmation of solicitor’s details.
The vendor is not bound to accept the highest or indeed any offer.

Total

354 Ft2

The property is Grade II Listed.
Floor plans will be made available to interested parties on application.

Attractive Listed Georgian property arranged over basement, ground, first and second floors
Commercial space comprises 192 ft2 of sales space on the ground floor with 162 ft2 of ancillary space at basement level

Ground floor and basement are let at £8,000 PA
Commercial unit let for a term of 5 years from December 2020

Attractive location with close proximity to Kingsmead Square and Queen Square
Upper floors consist of a 1-bedroom apartment
Apartment expected to achieve £1,250 per calendar month (£15,000 per annum)
Potential income for the building: £23,000 per annum reflecting a NIY of 6.33%
Close proximity to the Theatre Royal
Bath has significant untapped occupational demand across all sectors of the market
Possible conversion to residential on the ground floor and basement (STP)

PROPOSAL
We are instructed to seek offers in excess of £350,000 (Three Hundred & Fifty Thousand Pounds) subject to contract and exclusive of VAT.

LOCATION
Bath is a city of international report, located approximately 100 miles west of London and 13 miles east of Bristol. Bath is served by excellent transport links, including frequent train services to Bristol Temple Meads and London Paddington.
Although within the City centre the location is deemed secondary for retail with limited passing footfall, Sawclose and Kingsmead Square are a short distance away and both locations are high footfall generators. Nearby Retailers include Vino Vino, Giggling Squid, Las Iguanas, Tesco Express, Sainsburys Local, Pizza Express, Zizzi and Five Guys.

Princes Street has a mix of uses including residential, office and retail. Queen Square is just to the North of the property with shopping and other facilities all within a few minutes’ walk. Public transport, including bus and rail stations are around 10 minutes’ walk away.