residential use
Ref 15291

Clare Street Apartments

16-24 Clare Street
BS1 1XY Bristol

To buyPlease contact us
Size11,096 ft² / 1,031 m²
Initial yield6%

Description

Prime city centre residential investment opportunity

  • 17 newly refurbished apartments
  • Projected Gross Annual Income of £318,000
  • Projected Net Annual Income of £292,560 after management costs
  • Sought-after location in the heart of Bristol
  • Opportunity to enhance income, sell individual units or further develop (STP)

Description

The property comprises the four upper floors of a five-storey end of terrace corner property. The ground floor commercial premises do not form part of the available property. Access is provided off Clare Street and Marsh Street respectively, that both lead into a communal stairwell. The apartments follow a staggered pattern over each floor plate within the main building, rear extension and mezzanine levels. Internally, the 17 apartments have either been refurbished (or are undergoing refurbishment) to an excellent specification, all providing fully equipped kitchens, bedrooms and bathrooms. There are 16 two-bedroom and 1 one-bedroom apartments that are generally configured with an open plan living and kitchen area, double bedrooms and fully fitted bathrooms with shower over bath and white sanitary units. Some of the two-bedroom apartments also include en-suite shower rooms.

Planning

The vendor has submitted a pre-application to the Local Authority for the potential extension of the existing building to provide five additional apartments. A copy of the plans and application are available in the Information Pack.

Energy rating

Energy rating B-C

Location and Transport

Bristol is the commercial capital of the South West of England and is the third largest financial centre in the UK. It is located approximately 120 miles west of London, 80 miles south of Birmingham and approximately 40 miles to the east of Cardiff. Located in the very centre of Bristol, the property occupies a prominent position at the intersection of Clare Street and Marsh Street adjoining the vibrant and eclectic Corn Street. The extensive surrounding amenities include an independent street market, shops, restaurants, cafés pubs bars and clubs. The property is within a 10 minute walk of Cabot Circus shopping centre and approximately 15 minutes’ walk to Temple Meads mainline station. Regular bus services run along the adjoining Baldwin Street.