OFFLINE 08.08.12 - Regent House, Consort House & Imperial Arcade, East Street, Bedminster, Bristol
Dba289 TAKE OFFLINE
Tenancy: Multi Let
• Multi let city centre retail and office investment with asset management opportunities.
• Core location adjacent to Asda Supermarket and the established East Street retail pitch.
• A popular suburb of Bristol that has witnessed a number of successful and high profile residential developments in recent years, including Airpoint, St Peters Court and The Robinsons Building totalling over 500 apartments.
• The property provides a total NIA of 92,104 sq ft, encompassing 81,524 sq ft of offices and 10,580 sq ft of retail accommodation.
• Surface car parking for 197 vehicles, providing an overall ratio of 1:467 sq ft.
• Opportunity to pursue asset enhancement strategy through lettings, rent reviews and lease re-gears.
• Significant potential residential development of Regent and Consort House (subject to planning), over a total of 81,524 sq ft NIA.
• The combined total income from eleven separate leases is £854,912 pa.
• We are seeking offers in excess of £5,000,000 (Five Million Pounds) exclusive of VAT subject to contract for the benefit of the freehold interest.
• An attractive Net Initial Yield of 16.16% after allowing for purchaser’s costs of 5.80%.
• A Gross Capital Value of only £54 per sq ft.