Sold @ Auction £545,000

FOR SALE BY AUCTION

SOLD @ AUCTION £545,000
GUIDE PRICE £450,000
APRIL AUCTION TOTAL SALES £8.5m

LOT NUMBER 16
Wednesday 20th April 2016
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

EXEMPT FROM 3 % STAMP DUTY

Please note that as this is a mixed use commercial and residential property it is exempt from the additional 3 % stamp duty.

*** EXTENDED COMPLETION ***

Completion is set for 1st July to allow for vacant possession.

The buyer will be given access between exchange and completion to organise new tenants to move in on 1st July if required.

*** OR EARLIER BY MUTUAL CONSENT BUT WITHOUT VACANT POSSESSION ***

SOLICITORS

Richard Harris
AMD Solicitors
15 The Mall, Clifton, Bristol, BS8 4DS
DX 130681 Clifton 4
T: 0117 974 4100
F: 0117 974 4106
E: richardharris@amdsolicitors.com

ONLINE LEGAL PACKS

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THE PROPERTY

A pair of Grade II Listed Georgian properties comprising 4285 Sq Ft and arranged as 3 units;

GROUND FLOOR AND BASEMENT

A vacant commercial licensed premises which we understand has A1 / A3 / A5 consent having previously traded as a bar / club / cafe / takeaway.
Rateable Value £11,750

22 / 22 A DENMARK ST

Maisonette Number 1 - 5 bedroom HMO unit let to only 4 students on AST - terminating 30th June 2016.
Producing £20,880 per annum

23 DENMARK ST

Maisonette Number 2 - 4 bedroom HMO unit let to students on AST - terminating 30th June 2016.
Producing £20,880 per annum

LOCATION

Denmark Street is located adjacent to the Bristol Hippodrome theatre and within a few 100 yards of College Green, Park Street and the Harbourside.

THE OPPORTUNITY

A high yielding investment capable of producing £52,380 per annum ( on basis of £485 per room pcm + Bills ) in a central location close to Bristol University and the City Centre.

The properties have been well maintained but would now benefit from basic updating throughout with scope to increase the rents once updated.

The commercial unit could be let to provide an additional income or possible conversion into further residential accommodation subject to gaining any necessary consents.

Scope for 22 / 22A to be licensed for 5 tenants.

Scope for 23 to be increased to 5 beds ( subject to consents - please refer to legal pack )

TO BE SOLD WITH VACANT POSSESSION

BUYER'S PREMIUM

Please be aware all purchasers are subject to a £750 + 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

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TESTIMONIALS

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CHARITY OF THE YEAR

Hollis Morgan are supporting Home Start Bristol as our 2016 Charity of the year. We are delighted to announce that 10% of every buyer’s premium will be donated to this excellent local charity – Home-Start Bristol provides a unique kind of help which has a profound impact on struggling families with young children, 98% of those who finished a period of support reported that their wellbeing had increased. If you would like to find out more about Home-Start Bristol and how you can support us please visit our website www.homestartbristol.org.uk