Mixed use freehold investment & development opportunity in Bath city centre.
Commercial parts currently generating £40,200 pa.
Residential parts currently generating £28,290 pa (Flat 1 currently vacant).
Potential ERV of £92,490 pa.
Offers in excess of £1,300,000 exclusive of VAT.
37-38 KINGSMEAD STREET
No.37 – Ground & Basement retail: Passing rent £17,200 pa.
No.38 – Ground & Basement retail: Passing rent £23,000 pa.
Flat 1 – First floor 3 bed flat requiring full renovation: ERV £24,000 pa
Flat 2 – Second floor 4 bed flat: Passing rent £19,200 pa
Flat 3 – Third floor 3 bed flat passing rent £9,090 pa (regulated tenancy).
The city of Bath is renowned for its Roman history, Georgian architecture and unique retail offering providing a compelling destination for residents, visitors and businesses. The city is a popular tourist location and has a residential population of over 100,000 and annual visitor numbers exceeding 6.25 million at the last Census. Bath is served by excellent transport routes, including frequent train services to Bristol (13 miles) and London Paddington (100 miles). The city is well connected to the national motorway networks including the M4 motorway, Junction 18, located around eight miles to the north.
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Kingsmead Square is positioned in the heart of the city centre. Together with the surrounding area it is regarded as the core of Bath's entertainment district. Recent investment in public realm improvements in the area, including part pedestrianisation and increases in the availability of pavement licenses for cafes, bars and restaurants have maintained this focus and reinforced Kingsmead Square's standing as a socially vibrant area of the City. Businesses in Kingsmead Square include The Kingsmead Kitchen, Swoon Gelato, Boston Tea Party, Dough Pizzeria and award-winning cocktail bar Dark Horse. A short distance away in Saw Close is The Theatre Royal, Z-Hotel and further independent and national restaurant operators.