Sold @ Auction £600,000

FOR SALE BY AUCTION

*** SALE AGREED PRIOR TO AUCTION ***

LOT NUMBER 9
Wednesday 22nd July 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

A Freehold Victorian ( B1 ) former Corset Factory occupying an elevated position currently used as a successful film studios arranged over four floors with access from Church Road and Ebeneezer Street.

( 11,000 + Sq Ft on 0.15 Acre Plot )

The property now represents an excellent opportunity to develop, subject to gaining the necessary planning consents, into a high density scheme of flats in this highly sought after residential area. Planning has previously been granted for 12 x 1 bedroom flats but we understand there is now scope for 15 + units subject to PP.

PROPERTY INFORMATION

We understand that the building was built as the Langridge Corset Works in the Victorian era, and was more recently used as a theatre and possibly latterly as a food factory and warehouse. It has a substantial street frontage comprising a red brick façade with two roller shutter doors and a single visitor entrance door.
The main structure has a pitched pantiled roof and there are subsidiary flat roofed areas to the side and rear, plus a high walled tiled roof garden, which is available as a film set. The building abuts houses and flats to the side and rear.
The following table summarises the apparent construction of the major building elements.
It should be noted that we have not undertaken any form of a survey, structural or otherwise and the following comments are based on purely visual observations from ground level, unless otherwise stated.

ELEMENT DESCRIPTION

Walls The load-bearing walls are of brick that has been colour-washed red to the front and white to the rear elevations.

Pitched Roofs The main roof is steel trussed and clad with clay pantiles.

Flat Roofs There are subsidiary flat roofed areas clad with bitumen, one area forming a tiled roof patio over bitumen.

Window Frames ` The windows fronting Ebenezer Street have been blocked up. Remaining windows are modern replacement wood effect PVC-U double glazed units.

Rainwater Goods Guttering and downpipes are a mix of traditional and modern plastic design.

We understand that ,as part of the extensive conversion works, floors were replaced, including the ground floor studio, which has a vibration-free power float concrete surface with plastic coating; the main roof tiles were lifted off, the roof felted and tiles replaced; the wiring was replaced to broadcast TV studio standards; and the premises are assumed to have been re-plumbed. In addition, the premises were extensively soundproofed.

LOCATION

The building is close to the busy Church road where an array of local amenities and services are all within walking distance whilst St Georges Park is within a few hundred yards and Bristol City Centre is approximately two miles away.
Bristol is the principle financial and commercial centre of the South West of England. Traditionally, the city has been considered a major trading, financial and industrial centre, and port. Today, Bristol also has a strong banking and service sector and is a popular office relocation destination. London is 120 miles to the east, Birmingham 80 miles north and Cardiff 40 miles to the west. Rail services to London Paddington are available in 1 hour and 31 minutes. Major facilities include the Broadmead Centre, The Mall and the Cribbs Causeway out of town shopping centre four miles from the intersection of the M4/M5.

SITE

The site has an area of 0.064 ha (0.15 acres)

PLANNING HISTORY

The most recent planning history dates from 1991, when an application for the creation of “12 one bedroom flats in two storeys over 17 car spaces in semi-basement” was approved under application no. 91/01119/P. Whilst we have not had sight of the decision notice relating to the aforementioned application within which a timescale for development commencement is likely to have been stipulated, it is assumed that the consent has expired.

The Local Authority have confirmed that the subject property is not listed.

VAT

No VAT is payable on the property.

SERVICES

We understand that the property is connected to all mains services. The premises have gas-fired central heating and air-conditioning is said to extend to over 90% of the accommodation.

EPC

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

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.

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.

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 FINANCE

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

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 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

TESTIMONIALS

We are very proud of what our past clients have say about us - please visit the Hollis Morgan website to read their testimonials.