The property, which includes the former Pho Lounge, will go on sale at an auction next month.(Image: Hollis Morgan)

Four flats and a former restaurant on well-known Bristol street up for auction

by · BristolLive

A property consisting of four housing units and a former Vietnamese restaurant which overlooks one of Bristol’s best-known roads will head to auction next month. The property, located at 209 Gloucester Road in Bishopston, also comes with scope for further developments.

The former Pho Lounge restaurant, which opened in 2018, forms part of the extensive property. The retail unit, which is currently vacant, could be kept as a business unit or could be converted into a further residential unit, subject to getting consent.

The property includes three studios and a two bedroom flat. All four residential units have tenants and have Assured Shorthold Tenancy agreements in place. The front-facing studio generates an income of £1,000 per calendar month (pcm), the two rear-facing studios generate £950 pcm each and the two bedroom flat generates £1,550 pcm.

The property is stretched over five floors, which includes a lower ground floor, a ground floor and an upper ground floor. Currently the property would give £53,400 per annum.

The rear of the building consists of a single storey building which has the scope to become a residential development with independent pedestrian access from Somerville Road. The Hollis Morgan listing advises that the unit could become two two-bedroom flats or a single larger dwelling.

In addition, the property has a large ‘void’ section in the middle of the ground floor. Whilst it is a large place, it has no natural light, but could be incorporated into either the retail unit or the rear development.

Local letting agents have quoted a rental income of £1,400 pcm for the retail space, which comes with two toilets. The property as a whole includes an additional five bathrooms.

The property will head to auction on December 11 with a guide price of £850,000. This usually means that it is the seller’s minimum acceptable price, but it is subject to change.

Scroll down to view inside the property.

The property, which includes the former Pho Lounge, will go on sale at an auction next month.(Image: Hollis Morgan)
The property includes three studio flats and a two-bedroom flat.(Image: Hollis Morgan)
All the residential units currently have tenants.(Image: Hollis Morgan)