Description:

32/35 BRIDGE STREET - Spacious listed buildings of character currently providing more than 9,700sqft (908sqm) of usable space in addition to extensive common areas giving a total gross area in excess of 13,000sqft (1200sqm).

In reasonable structural order but in need of refurbishment.

Currently designated for office use but, subject to necessary consents, with development potential.

Attractively set in grounds extending to 0.78 acres, including a 53 space car park.

To be offered in three separate lots, or available as a whole or in two lots.

Situation

The properties are situated on the western side of Bridge Street in a mixed residential/ commercial area on the fringes of Hereford city centre and its associated amenities.

King Street and Broad Street, just to the north, comprise a major professional and business district of the city. There is a modern residential development nearby in St Nicholas Street, whilst almost across the road, in Gwynne Street, a former corn mill has been converted into luxury apartments. The Cathedral, banks and many shops are close by, in easy walking distance. To the south, the River Wye and pleasant riverside walks and open spaces are almost on the doorstep. The re-opening of the Left Bank riverside complex is expected to bring increased business to the area.

Description

The properties facing Bridge Street comprise substantial buildings which are Grade II listed. They are traditionally constructed of pitched slate roofs over largely load bearing brick walls. Apart from one small area of double glazing in No.33, windows are single glazed throughout.

These buildings are divided into two lots corresponding to the existing division of the properties. Subject to planning consents No.35 could potentially be converted into a spacious town house or perhaps into three large apartments, together with one or two studio flats. At the rear there is a large pleasant garden with lawns and trees extending up to the City Wall. Again, subject to any necessary planning consents, No.32/34 lends itself to multiple occupation either as a significant number of flats or as character office accommodation. The buildings are currently unoccupied.

To the side of the buildings is a large car park with spaces for 53 vehicles. It is well surfaced in tarmacadam and properly demarcated. Currently the car park produces gross licence fees in excess of £36,000 per annum.

The properties are available as a whole or in three separate lots.

Tenure and Terms

Each of the Lots is for sale freehold by private treaty either individually or in any combination of Lots, save that Lot 3 (the car park) will not be sold unless acceptable offers have been received for Lots 1 and 2. Price guidance is available on application.

The buildings are offered with vacant possession. The car park is currently occupied by multiple users on short-term (three months) licences. There is a steady demand for spaces which could be enhanced by Council proposals to introduce charges for street parking.

Business Rates

In the 2010 Rating List the buildings are subject to five different assessments, the details of which can be provided on request. The car park has a Rateable Value of £9,600 such that it could qualify for small business relief.

Accommodation

Measured on a net internal basis.

LOT 1
35 Bridge Street
Ground floor 3 offices75.88sqm817sqft
First floor 3 offices and store77.82sqm838sqft
Second floor 4 offices and store87.85sqm946sqft
Mezzanine at rear 2 offices27.66sqm297sqft
Sub Total269.21sqm2,898sqft

The gardens lying to the rear of this property extending up to the City Wall are included in this Lot.

LOT 2
32/34 Bridge Street inclusive
Ground floor 8 offices & reception, together with associated outside stores and storage 245.59sqm2,642sqft
First floor 11 offices (including boardroom).235.30sqm2,533sqft
Second floor 10 offices and kitchen. 158.36sqm1,705sqft
Sub Total639.25sqm6,880sqft

Total, Both Lots908.46sqm9,778sqft

Alternatively the property has an overall gross internal area of 1,240sqm (13,350sqft).

LOT 3
Bridge Street Car Park53 car spaces and associated income

Outside & Gardens

There are a number of outbuildings and storage buildings accessed externally from the rear of the premises. In addition there is a large lawned area to the rear of the buildings of which parts adjacent to the City Wall are included in the Scheduled Ancient Monument. Development in this area may be subject to special conditions or restrictions. The car park lies outside this area.

VAT

We understand that VAT is not payable in respect of the purchase.

New room

None of these statements contained in these particulars are to be relied upon as statements or representations of fact. These particulars are not an offer or contract or part of one. Floor plans are provided for guidance as to the layout of the property only. Room sizes and measurements are approximate only. Please note we have not tested the equipment, appliances and services in the property and interested parties are advised to commission appropriate investigation before formulating their offer.

Sunderlands are a member of the 'Ombudsman for Estate Agents Scheme' and therefore adhere to their Code of Practise. A copy of the Code of Practise is available on request.