Sold @ Auction £411,000

FOR SALE BY AUCTION

SOLD @ AUCTION - £411,000

LOT NUMBER 41
Wednesday 20th April 2017
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

RECEIVERSHIP SALE

Upon instructions of Joint LPA Receivers

THE PROPERTY

A large period building arranged as 12 bedsits / studios occupying a central position on an imposing period terrace of similar properties.
The property provides low cost accommodation for both local workers and long term tenants with a combination of self contained units and bedrooms with communal kitchen and bathrooms.

LOCATION

This freehold accommodation has an ideal trading location situated in the busy port town of Avonmouth, Bristol. The properties stand proud, neighbouring the Avonmouth Railway Station and the entrance to the shopping district. The location is ideal as it has a wealth of neighbouring business; ports and attractions, easy access to shopping and entertainment facilities whilst, being only a stone's throw away from two major motorway links. Avonmouth is located at the mouth of the River Avon, on its north bank and on the Severn Estuary. The large ports Avonmouth Docks and The Royal Portbury Dock are situated in the area. The location sits less than 8 miles away from Bristol city centre and, due to its many motorway links, has easy access to Newport, Cardiff, Weston-super-Mare, Swindon and Gloucester. Motorway links to the M49 and M5 are less than 1 mile away and connect to the M4 in less than 8 miles.

THE OPPORTUNITY

A high yielding HMO licensed investment property capable of producing an income in excess of £50,000 per annum.
The property would now benefit from updating throughout with scope to increase the rents accordingly once the improvements have been made.
Potential for conversion into flats subject to gaining the necessary consents.

HMO - IMPORTANT INFORMATION

"The Property is currently occupied pursuant to various tenancies of individual rooms and is subject to HMO licensing requirements. As HMO licences are personal to each owner and cannot be transferred, the purchaser will need to obtain its own HMO licence from the relevant authority."

CURRENT INCOME

Flats let on AST contracts - please refer to online legal pack for further information;

ROOM 221
Vacant

ROOM 222
£100 Per Week

ROOM 223
Caretaker

ROOM 224
£120 pw

ROOM 225
£105 pw

ROOM 227
£120 pw

ROOM 230
£120 pw

ROOM 231
£120 pw

ROOM 233
£120 pw

ROOM 234
£70 pw

ROOM 235
£80 pw

ROOM 228
Vacant

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 £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

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.

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 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