50 bed Commercial Under Offer
REDUCED!
Cheswick Campus has been recently developed to an exceptionally high standard offering luxury accommodation to students in a prime location in Bristol. Comprising 50 beds in total, there are 36 studios (5 of which are accessible) and 14 cluster beds arranged across 3 flats. Whilst the current use is for student accommodation, the property would also lend itself very well to serviced accommodation (subject to appropriate consents). There are excellent transport links - Bristol Parkway is 1.6 miles away, Filton Abbey Wood is less than half a mile away where a 10 minute train ride takes you into the centre of Bristol. The M4/M5 motorway network is around 5 miles from the property. The nearby Filton Enterprise Area is the home of innovative aerospace and aviation technology. The presence of Airbus, Rolls-Royce, and GKN have sealed Filton's status as a business hub for various sectors.
The property is set on the Square at Cheswick Village which offers a large bustling coffee shop, a gym, wine bar, takeaways, and a Co-op store.
Total GIA is 2, 489 sq m (26, 792 sq ft). The property is set over three floors with a secure undercroft car park with 6 allocated parking spaces (4 of which are accessible) and 50 cycle hoops.
Net operating profit of £421 032 per annum. It has been on a nomination agreement with the University of the West of England but this year will be direct let with a local agent to maximise returns. UWE are open to negotiating a new nomination agreement with the buyer going forward.
The property is held on a peppercorn leasehold interest until 2143. Service charge is approx. £9 500 per annum plus VAT and an insurance rent of £5,000 per annum plus VAT. Ground Rent Charge: £0
Full operational costs available on request.
Leasehold Information
Number of years remaining on the lease: 120 years
Current ground rent and any review period:
- £1 per year
- 1 year
Current service charge and any review period:
- £9,500 per year
- 1 year
Council tax band: Not Required
