Sold @ Auction £710,000

FOR SALE BY AUCTION

LOT NUMBER 23
Wednesday 26th February 2014
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

An imposing freehold period property occupying a prominent elevated corner plot on Bristol's premiere high street. The property is arranged as a retail unit on ground floor and basement levels whilst the upper floors comprise of a three bedroom flat and separate 5 bedroom apartment with the benefit of a current HMO license. Both the flats share independent access from Worrall road.

LOCATION

The property is situated in the heart of Clifton on the busy and vibrant Whiteladies Road. A vast array of local retailers, restaurants, bars and pubs are all within walking distance whilst excellent transport links allow easy access to Bristol City Centre. University of Bristol and the Bristol Royal Infirmary are both within a mile.

INCOME

1.) The retail unit is let to Clifton Property Services Ltd. The lease runs from the 4th December 2012 for a term of ten years at a rent of £25,000 pa.
2.) Flat 1 is let to a group of three students expiring in June 30th 2014 at a rate of £1,017 per calendar month (£12,204 pa).
3.) Flat 2 is let to a group of five students terminating on the 30th June 2014 at a rate of£1,965 per calendar month (£20,340 pa).
Total income: £57,544

2014 / 2015 INCOME.

Both flats have now been let for the 2014 / 2015 academic year.
The rents have been increased to
£349 per room pcm terminating 30 / 6 / 2015

HMO

Flat 2 benefits from a current HMO (house of multiple occupation). Please refer to online legal pack.

THE OPPORTUNITY

A rare opportunity to acquire a high yielding prime freehold mixed use investment producing £57,544 pa.

ACCOMMODATION

Please refer to floor plans.

GROUND FLOOR

Open plan retail unit with high profile corner window, stairs leading to:

BASEMENT

Ancillary workspace and storage.

FIRST FLOOR (FLAT 1)

Open plan kitchen diner, 3 bedrooms and bathroom.

SECOND FLOOR (FLAT 2)

Four bedrooms, bathroom and a W.C.

TOP FLOOR

Open plan living space and bedroom five.

BUYERS PREMIUM

Please be aware all purchasers are subject to a £350 + VAT buyers premium payable upon exchange of contracts.

CHARITY OF THE YEAR

Hollis Morgan are supporting Bristol Children's Help Society as their 2014 Charity of the year. We are delighted to announce that 10% of every buyers premium will be donated to this excellent local charity. For further details on their outstanding work in the community please visit www.tbchs.org.uk/about.html

In 2013, Hollis Morgan successfully raised £2,000, which was donated to Penny Brohn.

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

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