Attractive, high quality self contained office unit.
Location
Located on the site of a former Victorian paint factory, Paintworks is a vibrant and hugely successful mixed use development comprising studio/offices, live/work and residential spaces, representing Bristol’s creative quarter. For further information please visit www.paintworksbristol.co.uk Unit 7.07 forms part first floor of Deco Building, which was the administration block of the original paint factory. Proposal The building provides nine characterful self-contained offices, each comprising WC and kitchen, with reclaimed timber flooring, perimeter trunking, gas-fired central heating and recessed lighting. The unit benefits from two on site allocated car parking spaces.
Accommodation
1,500 sq ft
Terms
Tenure 999 year long leasehold from 2006, subject to a ground rent of £350 per annum which is subject to RPI linked reviews every 25 years.
Tenancy The unit is let to Wolverine Europe Limited (Company number– 04283166) on a lease from 28 September 2022 expiring on 27 September 2027. The lease is excluded from sections 24-28 of the Landlord and Tenant Act 1954. There is a rental deposit of £6,250. The current passing rent is £35,000 per annum reflecting £23.33 per sq ft. The net rent after deducting the ground rent is therefore £34,650 per annum.
Planning We understand that the accommodation has planning consent for offices but all interested parties should make their own enquiries to the Planning Department of Bristol City Council. Tel: 0117 922 2000 or www.bristol.gov.uk
Energy Performance Certificate The property has an EPC Rating of D 80. A copy of the certificate is available on request.
VAT The property is elected for VAT and it is therefore envisaged that the sale will be treated as a Transfer Of a Going Concern (TOGC).
AML A successful bidder will be required to provide relevant information to satisfy the AML requirements when Heads of Terms are agreed. Proposal We are seeking offers in excess of £445,000 (Four Hundred and Forty Five Thousand Pounds)