Meriton Street, St Philips, Bristol

St Philips Marsh Branch, Meriton St, Bristol BS2 0SZ, UK
£350,000
  • Status: Sold
  • Size: 17,595 (0.4 acres) sq. ft.
  • Tenure: Freehold
  • Property Type: Investment
  • Location: St Philips
  • Offer type: For Sale , Sold

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Property Description

The property is located in Meriton Street which is situated within the established central Bristol industrial area of St Philips. Junction 3 of the M32 motorway is approximately one mile to the north of the site via the A4320, whilst Bristol City Centre is located approximately one mile to the west.

The property comprises a flat yard with a concrete surface and palisade fencing to the north and west boundary.

Subject to appropriate consents there may be a long-term redevelopment opportunity.

The property was let for a term of 16 years from 3rd March 2017 to Lakshmy Ltd at an initial rent of £26,500 pax subject to four yearly upward only rent reviews to open market rental value or RPI.

We are seeking offers in the region of £350,000 which would show a net initial yield of 7.29% after purchasers costs at 4.39%.