Syndicate Type: Income
Asset Type: Leisure
Property Address: Site M & U, Harbour Road, Portishead, Bristol, BS20 7AJ
Break Option: N/A
Lease Expiry: 12/12/2036
Passing rent: £199,980
Portishead is located on the Severn Estuary, 12 miles to the west of Bristol and 3 miles from Junction 19 of the M5 motorway. The subject is located opposite the Portishead Dock, on the southern side of Harbour Road, adjoining Waitrose and opposite a public square with recent residential, retail and leisure development. Further along Harbour Road and Newfoundland Way are modern office developments while approximately 600 metres to the west of the subject property is the High Street. This area of Portishead has undergone substantial regeneration over the last few years with the development of the marina (accommodating 245 yachts and boats) and new residential, retail and leisure development.
The building is under construction on the 1.345 acre site. On Completion of the works the improvements will comprise a 60 bedroom hotel with a ground floor supermarket, 109 space car park and a small retail unit fronting Harbour Road. The ground floor supermarket and retail unit will be ‘sold off’ on 125 year leases with the subject of the valuation the freehold and the 60 bedroom hotel. The building will consist of ground with three upper floors of rendered
brick elevations on a concrete slab foundation, pitched aluminium roof and powder coated aluminium windows.