Sold @ Auction £400,000

FOR SALE BY AUCTION

SOLD @ AUCTION - £400,000

LOT NUMBER 17
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

THE PROPERTY

A mixed use, modern, end of terrace leasehold property situated in a prominent City Centre location comprising of a tenanted A3 retail unit on the basement, ground and first floor and two further floors above.
There is seperate access to the upper floors from Bond Street.

The property is held on a 125 year lease with a peppercorn rent.

LOCATION

Bond Street is located in the heart of the City Centre, a few 100 yards from Broadmead and Cabot Circus whilst the Bristol Royal Infirmary and Bristol University are both within one mile.

THE OPPORTUNITY

DEVELOPMENT
Full planning has been granted to convert the upper floors into 5 residential units.
Planning was granted in 2007 and we understand Bristol City Council has inspected the property and issued a commencement notice - please refer to online legal pack.

INVESTMENT
There is a restaurant on the ground floor and mezzanine area on a 5 year lease with 4 years remaining, paying a rental £25k per annum.

PLANS

Full details can be downloaded via the online legal pack.

PLANNING INFORMATION

Decision: GRANTED subject to condition (s)
Application No: 07/03188/F
Type of Application: Full Planning
Site Address: 22 Bond Street, Bristol, BS1 3LU
Description of Development: Addition of two storey enclosed balcony on side elevation. Raising of existing roof to form additional storey. Change of use 2nd, 3rd and 4th floor to 5 no. self contained flats. Entrance reconfigured to provide separate entrances. Minor alterations to shop front.
Committee / Delegation Date: 28.12.07

RENTAL APPRAISAL

The local lettings experts say:

The Bristol Residential Letting Co. are confident this block of 5 1 bedroom apartments would make a good rental investment. Having visited the property, Danny Dean of The Bristol Residential Letting Co suggests a rental range of £650-£750pcm will be achievable on these apartments 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