Sold @ Auction £410,000

FOR SALE BY AUCTION

GUIDE PRICE - £375,000
SOLD @ AUCTION - £410,000

LOT NUMBER 5
Wednesday 24th February 2016
All Saints Church Pembroke Road, Clifton, Bristol BS8 2HY
Legal packs will be available for inspection from 18:00.
The sale will begin promptly at 19:00

VIEWINGS

By appointment with Hollis Morgan.

SOLICITORS

Simon East
Meade King LLP
Springfield House, 45 Welsh Back, Bristol BS1 4AG
Telephone: 0117 926 4121
Fax: 0117 929 7578
DX: 7812 BRISTOL
sre@meadeking.co.uk

ONLINE LEGAL PACKS

Please visit the Hollis Morgan Website and select the chosen lot from our Current Auction List. Legal Packs are free to download from Hollis Morgan. Follow the RED link to "Download Legal Packs" For the first visit you will be required to register simply with your email and a password. Having set up your account you can download legal packs or register to receive them if not yet available. You will be automatically be updated if any new information is added.

THE PROPERTY

An end of terrace mixed use property with full planning granted to develop and enlarge current residential element in a prominent location close to the Harbourside with a heavy footfall and excellent trading postilion, the residential element is in a highly desirable position and will command excellent rental income / resale values.

Existing Accommodation;

Ground Floor - A5 Commercial Unit currently trading as takeaway
Upper Floors - Residential Maisonette with full planning granted to extend to side and add dormers.
Building Plot to rear - full planning granted to erect one bedroom house

The whole property is currently let to the same tenant for £17,200 pa.

LOCATION

The property is across the road from the Bristol Harbour and offers excellent access to the wide range of amenities the City Centre, Clifton Village and Park Street have to offer, whilst Bristol University and Bristol Royal Infirmary are also easily accessible. Clifton Village 0.5 miles, Park Street 1.4 miles, Cabot Circus 2.2 miles, The Mall, Cribbs Causeway 7 miles, Bristol Temple Meads 3 miles, Bristol Airport 8.4 miles.

28 space Car Park opposite and on street parking immediately outside - both on meters.

COMMERCIAL UNIT

Currently let on a 15 year lease with 4.5 years left unexpired. Option for vacant possession (please refer to online legal pack)
Scope for vacant possession ( landlord only break clause ) - please refer to Hollis Morgan.
Excellent trading position with A5 planning usage - huge demand for takeaway type meals due to the heavy footfall around the Harbourside and high density residential population in Cliftonwood and Hotwells.
We suggest there is excellent scope for an upmarket fish and chips style business in this location as this is currently under supplied in the immediate area or alternative commercial usage such as estate agency / lettings agency.

We would suggest a income of circa £12k - £15k per annum.

DEVELOPMENT OF MAISONETTE

Full Planning has been granted to extend the existing maisonette to create a stylish self contained three bedroom residential unit with south facing views of the harbour with scope for a four bedroom HMO ( HMO income £1,800 - £2,000 pcm )
We would suggest this has a resale value of circa £325,000
( Please refer to online legal pack for full planning information )

PLANNING GRANTED - MAISONETTE

Reference 15/01977/F
Proposal Side extension to existing maisonette and dormer roof extensions to rear and front. Works to ground floor shop front.
Decision GRANTED 23rd Jun 2015

NEW BUILD TO REAR

Planning has been granted to erect a detached new build bijou house with 30 Sqm Garden.
Careful consideration has been given to simplify the construction as the property follows the existing contours of the site affording views from the upper levels and also ensuring ground works are kept to a minimum.
We would suggest this has a resale value of circa £225,000 - £250,000
( Please refer to online legal pack for full planning information )

PLANNING GRANTED - NEW BUILD

Reference 14/05731/F
Proposal Erection of 1 no. one-bedroom garden flat; with refuse and recycling store, and cycle storage locker.
GRANTED - 2nd Feb 2015

PLANS

Full details of all plans, drawings etc. can be downloaded via the online legal pack.

EPC

For full details of the EPC please refer to the online legal pack.

BUYER'S PREMIUM

Please be aware all purchasers are subject to a £750 + VAT buyer's premium which is ALWAYS payable upon exchange of contracts whether the sale is concluded before, during or after the auction date.

GUIDE PRICE

An indication of the seller's current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

RESERVE PRICE

The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

OFFERS

Pre auction offers can be only submitted by completing the OFFER FORM which can be downloaded within the online legal pack. Please send the COMPLETED form to – olly@hollismorgan.co.uk Please note offers will not be considered until you have viewed the property and the COMPLETE legal pack has been released. In the event of an offer being accepted the property will only be removed from the auction and viewings stopped once contracts have successfully exchanged subject to the standard auction terms and payment of the buyers premium to Hollis Morgan.

AUCTION BUYERS GUIDE VIDEO

We have short video guides for both buying and selling by Public Auction on the Hollis Morgan Website. If you have any further questions regarding the process please don’t hesitate to contact Auction HQ.

CHARITY OF THE YEAR

Hollis Morgan are supporting Home Start Bristol as our 2016 Charity of the year. We are delighted to announce that 10% of every buyer’s premium will be donated to this excellent local charity – Home-Start Bristol provides a unique kind of help which has a profound impact on struggling families with young children, 98% of those who finished a period of support reported that their wellbeing had increased. If you would like to find out more about Home-Start Bristol and how you can support us please visit our website www.homestartbristol.org.uk

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