Sold @ Auction £490,000

FOR SALE BY AUCTION

GUIDE £475K +++

SOLD £490K

LOT NUMBER 12
Wednesday 25th February 2015
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

THE PROPERTY

Knight Court is a brand new Freehold development of the upper floors of this commanding mixed use period terrace. The conversion has taken place over the previous 18 months and has seen the upper floors developed into five stylish self contained two bedroom apartments each with their own private entrance.
The flats are accessed via a pedestrian path to the rear of the High Street adjacent to Number 2 Guinea lane with wrought irons leading up to a communal roof terrace and providing access to all 5 units.
Flat 1,2,4 and 5 have never been occupied and are offered in excellent decorative order.
Flat 3 is currently tenanted.
Management Company - Not yet formed.
Tenure – The freehold and head leasehold of the whole of 743-745 Fishponds Road and Flats 1 – 5 Knight Court is being offered for sale subject to the 999 year leases of the ground floor shops, 743 and 745 Fishponds Road.

LOCATION

Knight Court is located just off Guinea Lane within the popular suburb of Fishponds. Local amenities and services including high street retailers, convenience stores, bars, pubs and restaurants are all within close proximity. Bristol City Centre is approximately four miles away.

THE OPPORTUNITY

Investment;
Flat 3 is currently let for £550 pcm on a 12 month AST contract to a friend of the owner.
Local letting agents have valued the rental income to be
Flat 1 £725pcm
Flat 2 £675pcm
Flat 3 £675pcm
Flat 4 £695pcm
Flat 5 £675pcm
POTENTIAL RENTAL INCOME OF £41,340 PER ANNUM

Resale
Obvious break up opportunity.
Please contact local agents for values.

ACCOMMODATION SCHEDULE

Each flat comprises of:

2x bedrooms
Open plan kitchen / lounge
Bathroom

Electric heating throughout.

Please refer to floorplans.

EPC

For full details of the EPC x 5 please refer to the online legal pack.

BUYER'S PREMIUM

Please be aware all purchasers are subject to a £500 + 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

Available to download via our purpose built property website.

AUCTION FINANCE

Some properties may require specialist auction finance- please contact Hollis Morgan for access to expert advice and "whole of market" rates.

TESTIMONIALS

We are very proud of what our clients say about us - please visit our website to read our Testimonials: www.hollismorgan.co.uk/auction-testimonials.html

CHARITY OF THE YEAR

Hollis Morgan are supporting Dance Voice as their 2015 Charity of the year. We are delighted to announce that 10% of every buyers premium will be donated to this excellent local charity - Dance Voice is dependent on voluntary donations to run its dance movement psychotherapy sessions which enable so many vulnerable people express themselves and improve and integrate their physical, emotional and social health and wellbeing. For further details on their outstanding work in the community please visit www.dancevoice.org.uk In 2014 Hollis Morgan successfully raised £2,500 for Bristol Children's Help Society www.tbchs.org.uk