Prime Commercial Property with Redevelopment Potential on Gloucester Road, Bristol
Undisclosed, Bristol
Status:
FOR SALE
Date Submitted:
08/05/25
Advert ID:
2840
Reference:
18235221 / Rightbiz
Call Agent:
Business Details
FOR SALE BY AUCTION
This property is due to feature in our online auction on 22 May 2025 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS
By appointment.
SUMMARY
SUBSTANTIAL COMMERCIAL PROPERTY WITH RESIDENTIAL REDEVELOPMENT OPPORTUNITY
Occupying a prominent corner position on the ever-popular and high-footfall Gloucester Road, this substantial commercial property presents an excellent investment opportunity in one of Bristol’s most vibrant locations.
The property comprises an extended ground floor retail unit with rear storage, yard space, and first-floor ancillary accommodation. Currently let to St Peter’s Hospice at £20,000 per annum, the lease is due for renewal in June 2025. The tenant has already expressed interest in renewing - either for the entire premises at £28,000 per annum, or the ground floor only at £25,000 per annum - offering flexibility for investors and developers.
With strong rental demand, redevelopment potential (subject to necessary consents), and excellent visibility on one of the city’s busiest thoroughfares, this is a rare opportunity to acquire a well-located asset with immediate income and long-term potential.
LOCATION
Gloucester Road is one of Bristol’s most iconic and vibrant high streets, renowned for having the longest stretch of independent shops in the UK. A thriving hub of local culture, it’s lined with cafés, restaurants, artisan bakeries, vintage stores, and boutique retailers, attracting a steady flow of shoppers, students, and professionals year-round. Located just north of the city centre.
ACCOMMODATION
Please refer to floorplan for approximate room measurements and internal layout.
LEASE DETAILS
The property is currently let to St Peter's Hospice on a Full Repairing & Insuring lease at a passing rent of £20,000 per annum on a 10 year term, which is due for renewal on the 15th June 2025. The lease is subject to a 5 year Rent Review.
The tenants have expressed an interest in renewing the lease at a revised rent of £28,000 per annum for the whole premises, or a renewal of the ground floor only (to surrender the first floor) at £25,000 per annum.
POTENTIAL CONVERSION OF FIRST FLOOR
Indicative plans have been produced to demonstrate a potential conversion of the first floor accommodation to a 4-bedroom first floor flat.
TENURE
Freehold - Please refer to the legal pack for confirmation
COMPLETION
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE (EPC)
Rating: C
AUCTION OR BRIDGING FINANCE REQUIRED?
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email [email protected]
BUYER'S PREMIUM
Please be advised that all purchasers are subject to a £1,800 plus VAT (£2,160 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £150,000: £5,000
£151,000 and above: £10,000
If you bid is successful, the balance of the deposit monies and Buyer’s Premium (£1,800 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you within 5 working days.
RENTAL ESTIMATES
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
Contact Agent
Telephone:
Registered Buyers only »Agent Name:
Registered Buyers only »Advert Reference:
18235221 / RightbizEmail:
Registered Buyers only »Listing Statistics
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