Sold @ Auction £425,000

FOR SALE BY AUCTION

SOLD @ AUCTION - £425,000

LOT NUMBER 11
Wednesday 3rd June 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

*** IMPORTANT UPDATE ***

UPDATE RECEIVED FROM GREGG LATCHAMS RECEIVED 1ST JUNE - PLEASE READ AND REFER TO LEGAL PACK

Please note that the property will be offered for sale subject to the existing tenancies. The tenants are in occupation. The tenant in the hall floor flat is believed to have moved into the flat in July 1990. The tenant in the basement flat is believed to have moved into the flat in November 1987. The party who dealt with the tenants originally died in December 2014. Please note that the price guide has been adjusted accordingly.

NEW INFORMATION RECEIVED ON TENANTS - 2ND JUNE

Basement Flat
Tenant name – William Pearce
Current rent - £230.00
Occupied since November 1987

Hall Floor Flat
Tenant name – Roy Harvey
Current rent - £460.00
Occupied since 26th July 1990

This is information was provided by the tenants directly to Gregg Latchams so it cannot be 100% relied upon and buyers must make their own enquiries and seek independent legal advice.

THE PROPERTY

An imposing semi detached period property arranged over flour floors with a large south facing garden.
The property has been informally arranged and let as 4 flats ( not self contained ) which enjoy panoramic views over the city to the hills surrounding Bath.
In addition there is a garage block fronting St Andrews.

LOCATION

Cromwell Road is one of the premier roads in St Andrews within easy reach of Cheltenham Road and Gloucester Road with its eclectic range of shops and restaurant and close to the city centre with its business areas, shopping and leisure opportunities as well as some of the major institutions of Bristol including the University of Bristol. There is a railway station nearby connecting with Temple Meads with high speed train services to many parts of the country.

THE OPPORTUNITY

The property has been let for many years and now requires complete modernisation.

There is scope to both improve and potentially to re arrange the accommodation to create four self-contained flats for re-sale or rental purposes.

Scope to create 2 large maisonettes.

The property would convert into a large 4 / 5 bedroom family home with South West Facing garden in this highly sought after residential area.

The garage block may represent further development opportunities for a mews style property, subject to PP - Please note similar developments adjacent.

RENTAL APPRAISAL

The local lettings experts say:
The Bristol Residential Letting Co. are confident that these 2 3/4 bedroom maisonettes would make a good rental investment. Danny Dean of The Bristol Residential Letting Co suggests a rental range of £1400 - £1500pcm. The other option is to convert the block into 4 1 bedroom apartments which should achieve £750-£800pcm if furnished to an appropriate standard.
If you would like to discuss more detail on the potential for rental, you can call me (0117 973 5237) or email (danny@bristolreslet.com) for a no obligation discussion. Alternatively why not drop into my Office (19 Clifton Down Shopping Centre, Whiteladies Rd, Clifton, Bristol, BS8 2NN) where I am always happy to advise investors on maximising their investment.

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 £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 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.

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 past clients have say about us - please visit the Hollis Morgan website to read their testimonials.

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