Busy retail unit let to hairdressers/training academy for 5 Years at £37,500 p.a. rising annually to £45,000. p.a.

Busy retail unit let to hairdressers/training academy for 5 Years at £37,500 p.a. rising annually to £45,000. p.a.
£595,000LeaseholdBristol BS1 3JE
10th December 2018

Description

Description
The property was constructed during the 1960’s and forms part of a three storey purpose built retail block.

No 44 The Horsefair has recently benefited from a comprehensive refurbishment by the tenant and comprises a premium hair dressing salon and training academy trading as The Hair and Beauty Bank. This property is an expansion for the tenant who has successfully traded nearby on The Horsefair for some 6 years.

Tenure
The property is held on a long lease from Bristol City Council for 125 years from 2nd August 2016 at a head rent equating to 10% of rents received.
Note, the head lease permits the upper parts to be used as offices and/or residential, subject to the usual planning consents.

Tenancies
The property is let to HBB Training Academy Limited (Co. No. 10552141) t/a The Hair and Beauty Bank on a Full Repairing and Insuring lease for a term of 5 years from 23rd February 2017 expiring on 22nd February 2022 at a commencing rent of £35,000 per annum. The annual rent over the term of the lease is as follows;
Year 1 – £35,000
Year 2 – £35,000
Year 3 – £37,500
Year 4 – £40,000
Year 5 – £45,000

The rent commencement date is 23rd November 2017.

Accommodation
Ground Floor : 853 sq ft / 79.24 sq m
Zone A  :  329 sq ft / 30.56 sq m
Zone B : 415 sq ft / 38.55 sq m
Zone C : 109 sq ft / 10.13 sq m
Mezzanine : 240 sq ft / 22.30 sq m
First Floor : 828 sq ft / 76.92 sq m
Second Floor : 474 sq ft / 44.03 sq m
TOTAL : 2,395 sq ft / 222.50 sq m

Location
The property is situated in a prominent position on The Horsefair in between Starbucks and Burger King close to the junction of Merchant Street which leads directly onto Broadmead. The units are within close proximity to major retailers including Debenhams, Marks & Spencer and Primark. In addition, TK Maxx and Metro Bank are both around the corner.

44 The Horsefair, Bristol BS1 3JE

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