Block of flats for sale in Hotwell Road, Hotwells, Bristol BS8

Five storey building arranged as five large flats
A substantial five storey Grade II listed period building arranged as five well-presented flats (1 x 3-bedroom flat and 4 x 2-bedroom flats). There is a large garden and additional parking area to the rear that may offer potential for further development, subject to consents.

The property offers a potential rental income in excess of £90,000 per annum once the current rents have been increased and also presents a superb break-up opportunity, whereby the flats could be sold off separately.

Description

A substantial and attractive five storey Grade II listed period building arranged as five well-presented flats (1 x 3-bedroom flat and 4 x 2-bedroom flats). There is a large garden and additional parking area to the rear that may offer potential for further development, subject to consents. The building has been well-maintained during its current ownership and all of the flats benefit from modern kitchens and bathrooms, gas central heating and spacious living accommodation.

The property offers a potential rental income in excess of £90,000 per annum once the current rents have been increased and also presents a superb break-up opportunity, whereby the flats could be sold off separately.

Location

The property is situated in a fantastic location within close proximity to Bristol's harbourside which has undergone a huge transformation in recent years. Easy access is provided to the City Centre, Clifton Village and a wide range of amenities on the harbourside and Wapping Wharf.

Accommodation / Current Rental Details

Basement Flat - Approx. 72 M² (771 Sq Ft)

Comprising a private entrance hall, lounge/diner, modern kitchen, three bedrooms and a bathroom with a garden to the rear.
Currently let on an AST dated 6 January 2022 at a rent of £1,300 pcm.

Hall Floor Flat - Approx. 53 M² (575 Sq Ft)

Comprising a lounge/diner, modern kitchen, two bedrooms and a bathroom.
Currently let on an AST dated January 2024 at a rent of £1,200 pcm.

First Floor Flat - Approx. 57 M² (622 Sq Ft)

Comprising a lounge/diner, modern kitchen, two bedrooms and a bathroom.
Currently let on an AST dated 29 July 2022 at a rent of £950 pcm.

Second Floor Flat - Approx. 53 M² (575 Sq Ft)

Comprising a lounge/diner, modern kitchen, two bedrooms and a bathroom.
Currently let on an AST dated 30 May 2020 at a rent of £850 pcm.

Top Floor Flat - Approx. 51 M² (554 Sq Ft)

Comprising an open-plan kitchen/living/dining room, two bedrooms and a bathroom.
Currently let on an AST dated 25 August 2021 at a rent of £850 pcm.

Potential Rental / Break-Up Figures

All of the flats are currently under-let and we would anticipate the current market rents below along with break-up sales values:

Basement flat: £1,800 pcm / £350,000
hall floor flat: £1,500 pcm / £285,000
first floor flat: £1,500 pcm / £295,000
second floor flat: £1,500 pcm / £295,000
top floor flat: £1,250 pcm / £275,000

total: £90,600 Per annum / gdv: £1,500,000

Energy Performance Certificates (Epcs)

Ratings:
Basement Flat, First Floor Flat & Second Floor Flat - D
Hall Floor Flat & Top Floor Flat - E

Tenure

The property is for sale on a freehold basis, subject to the current ASTs for each flat.

Viewings

Strictly by appointment with Maggs & Allen