Sold @ Auction £266,000

FOR SALE BY AUCTION

SOLD @ AUCTION £266,000
GUIDE PRICE £275,000
APRIL AUCTION TOTAL SALES £8.5m

LOT NUMBER 9
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

SOLICITORS

Imdaad Sulaiman
Partner
Converse Law
D: 01242 323575
M: 07523 122668
Festival House, Jessop Avenue, Cheltenham, GL50 3SH

ONLINE LEGAL PACKS

Please visit the Hollis Morgan Website and select the chosen lot from our Current Auction List.
Legal Packs are free to download from Hollis Morgan.
Follow the RED link to "Download Legal Packs" For the first visit you will be required to register simply with your email and a password.
Having set up your account you can download legal packs or register to receive them if not yet available.
You will be automatically be updated if any new information is added.

THE PROPERTY

A large Freehold premises with access from the popular Warden Road and overlooking the pedestrianised East Street.

LOCATION

East street is a popular pedestrianised High Street with a wide range of retailers and traders serving the local area yet within one mile of the City Centre and close to North Street.

THE OPPORTUNITY

Planning has been granted to develop the property into the following scheme.

Bike Store
A2 Commercial Unit - 44 Sq M - £90,000
3 Bedroom Maisonette - 89 Sq M - £225,000
2 Bed First Floor Flat - 61 Sq M - £180,000
2 Bed Top Floor Flat - 62 Sq M - £180,000

GDV - £675,000

RENTAL APPRAISAL

The local lettings experts say:
The Bristol Residential Letting Co. is confident this development would make a good rental investment. Don McKeever of The Bristol Residential Letting Co suggests a rental range of:
2 Bed first floor flat – £875-£925pcm
2 Bed Second top flat – £875-£925pcm
3 Bed Maisonette - £975-£1075pcm
Commercial unit – to be advised by a commercial agent
If you would like to discuss more detail on the potential for rental, you can call Don (0117 370 8818) for a no obligation discussion. He will be very happy to advise on maximising the return on this property.

PLANNING GRANTED

Reference 15/05147/F
Alternative Reference PP-04490375
Application Received Thu 08 Oct 2015
Application Validated Thu 15 Oct 2015
Address 122 East Street Bedminster Bristol BS3 4ES
Proposal Conversion to form three flats including a rear extension; retaining part ground floor office use.
Status Decided
Decision GRANTED subject to condition(s)
Decision Issued Date Fri 22 Jan 2016

PLANS AND DRAWINGS

All details can be downloaded with the on line legal pack.

ALTERNATIVE SCHEME

There has been a positive appraisal for conversion into an 8 bed HMO - buyer must make their own enquiries.

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.

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.

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

TESTIMONIALS

We are very proud of what our past clients have say about us - please visit the Hollis Morgan website to read their testimonials.