Sold @ Auction £527,000

FOR SALE BY AUCTION

*** SOLD AFTER AUCTION ***

LOT NUMBER 12
Wednesday 30th November 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

VIEWINGS

By appointment with Hollis Morgan.

48 Hours notice Required.

SOLICITORS

Ben Rothery
MFG Solicitors
ben.rothery@mfgsolicitors.com
01562 820181
Adam House, Birmingham Way, Kidderminster, Worcs, DY10 2SH

ONLINE LEGAL PACKS

Digital Copies of the Online legal pack can be downloaded Free of Charge.
Please visit the Hollis Morgan Website and select the chosen lot from our Current Auction List.
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 if they are not yet available they will automatically be sent to you when we receive them.
You will be automatically updated by email if any new information is added.
*** STAY UPDATED *** By registering for the legal pack we can ensure you are kept updated on any changes to this Lot in the build up to the sale.

THE PROPERTY

A large mid terraced period property in an elevated position on the Wells Road.
The property is arranged over 3 floors with 6 en suite bedrooms ( Two with kitchen facilities ) and a communal kitchen / diner leading onto a well maintained rear garden.
The property is sold freehold with the benefit of a full HMO license and is in excellent decorative order with Central control and sensor lighting

EXTENDED COMPLETION

Completion is set for January 6th 2017

LOCATION

The property is situated on the busy Wells Road within the popular suburb of Knowle. Local amenities and services are all within close proximity. Bristol Temple Meads is less than a mile away and provides direct rail routes in and out the City. Bristol City Centre is approximately two miles away.

THE OPPORTUNITY

Excellent long term investment - this fully licensed HMO is let to six individual tenants producing a rental income of £52,020 per annum.
There is a strong demand for quality accommodation of this nature and given it proximity to the City Centre we would anticipate the rental income to increase further.
The property is let inclusive of all bills and sold subject to existing tenancy agreements - please refer to legal pack.

ACCOMMODATION

GROUND FLOOR

- Bedroom 1 with en suite bathroom
- Bedroom 2 with en suite bathroom
- Kitchen / Diner

FIRST FLOOR

- Bedroom 3 with en suite bathroom and separate cooking facility
- Bedroom 4 with en suite bathroom
- Bedroom 5 with en suite bathroom and separate cooking facility

SECOND FLOOR

- Bedroom 6 with en suite bathroom

OUTSIDE

- Rear garden.

TENANCY SCHEDULE

Room 1

- £735 pcm
- 12 month AST from 21/11/2015

Room 2

- £700 pcm
- 12 month AST from 01/09/2015

Room 3

- £750 pcm
- 6 month AST from 29/03/2016

Room 4

- £700 pcm
- 6 month AST from 28/10/2016

Room 5

- £710 pcm
- 3 month AST from 02/04/2016

Room 6

- £725 pcm
- 12 month AST from 06/10/2016

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 (£900 inc 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.

PRE AUCTION OFFERS

Some properties may be available to buy prior to the auction.
Pre auction offers can be only submitted by completing the OFFER FORM which can be downloaded with the online legal pack - please email 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 buyer’s premium ( £900 ) to Hollis Morgan.
Contracts can be signed either via the solicitors or at the Hollis Morgan offices subject to appointment.

SURVEYS AND VALUATIONS

If you would like to arrange a survey or mortgage valuation of this Lot BEFORE the auction please instruct your appointed surveyor to contact Hollis Morgan and we will arrange access for them to inspect the property. Please note that buyers CANNOT attend the surveys and the surveyors are responsible for collecting and returning keys to the Hollis Morgan offices in Clifton.

BIDDING AT THE AUCTION

This property is for sale by public auction and if you intend to bid please bring the following

Proof of identity (valid passport or photo driving licence).
Proof of address (bank statement, recent utility bill, council tax bill or tenancy agreement).
10% deposit payment.
Buyers premium payment.
Details of your solicitor.

PAYING THE DEPOSIT & BUYERS PREMIUM

We can only accept the following at the auction

Personal or Company Cheque
Bankers Draft
Debit Card ( NOT CREDIT CARD )

TELEPHONE AND PROXY BIDDING

If you cannot attend the auction (although we strongly advise you do) you can make a TELEPHONE or PROXY BID. This authorises the auctioneer to bid on your behalf up to a pre-set limit. Forms and relevant conditions are available to download with the online legal pack. A completed form, ID and two cheques (one for the 10% deposit and one for the Buyer's Administration Fee of £900) are required by the Auction Department at least two full working days before the auction.

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