Clifton Arcade Boyces Ave 5,733 sq ft 74% Let Retail Property Bristol BS8 4AA £4,000,000 (£697.71/sq ft) 9.88% Net Initial Yield

A Rare Opportunity to Acquire a Historic Victorian Shopping Arcade Investment in Bristol’s most affluent suburb.
We are seeking offers in excess of £4,600,000 (Four Million, Six Hundred Thousand Pounds) subject to contract, representing a net initial yield of 8.59% assuming usual purchaser’s costs and based on the assumed day-one annual income of £420,924.
The Clifton Arcade is a beautifully restored Victorian gem and home to a vibrant mix of independent boutiques and artisan markers. Its glass roofed charm and creative community is a real discovery. Comprising 2 shop/cafe premises fronting Boyce’s Avenue, 16 speciality independent occupiers on the ground floor, plus a vibrant mix of a further 17 boutique studio occupiers at first and second floors.
The Grade II Listed property fronts Boyce’s Avenue, a pedestrianised street, which offers vibrancy with a number of traders spilling their activities onto the street; such as Primrose Café’s seating and the long standing Reg the Veg greengrocer and his produce.
Tenancies: The property currently produces a total gross income of £488,064 per annum, comprising £470,160 per annum in rents, and £17,904 service charge contributions. The vendor will top-up the vacant rents and service charge amounts (an additional £60,002) for 12 months. The arcade occupation is typically on annual tenancies inclusive of service charge, however, exclusive of rates. The external shops (Village Gifts and Primrose Café) are drawn on more traditional leases within the security of tenure provisions of the Landlord & Tenant Act 1954. A tenancy schedule and plans are available on request.