Sold @ Auction £550,000

FOR SALE BY AUCTION

** SOLD PRIOR TO AUCTION ***

LOT NUMBER 42
Wednesday 30th November 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

VIEWINGS

External inspection only.

SOLICITORS

Stephen Parker
Partner | Barcan+Kirby LLP
Tel: 0117 325 2929
DDI: 0117 919 2404
Web: www.barcankirby.co.uk
S.Parker@barcankirby.co.uk

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 LAND

A large corner parcel of land with road frontage onto both Frome Valley and Alberton Road occupying an elevated position with views towards the Dower House.

LOCATION

Frome Valley Road is located within the popular suburb of Frenchay. Local amenities and services are all within close proximity including the University Of the West Of England. Bristol City Centre is approximately three miles away. The M32 Motorway network is also easily accessible and provides direct routes in and out of Bristol.

THE OPPORTUNITY

Full planning has been granted to demolish the existing buildings and erect 8 self contained flats.

There is scope for the addition of extra units / storeys subject to gaining the necessary consents.

We would suggest the resale values are £175,000 - £200,000 per unit.

SCHEDULE ( ALL SELF CONTAINED )

Flat 1 - Ground Floor 1 Bed 1 Bath
Flat 2 - Ground Floor 1 Bed 1 Bath
Flat 3 - Ground Floor 1 Bed 1 Bath
Flat 4 - Ground Floor 1 Bed 1 Bath
Flat 5 - First & Second Floor Maisonette 2 Bed 1 Bath.
Flat 6 - First & Second Floor Maisonette 2 Bed 1 Bath.
Flat 7 - First & Second Floor Maisonette 2 Bed 1 Bath.
Flat 8 - First & Second Floor Maisonette 2 Bed 1 Bath.

PLANNING GRANTED

Reference 15/04448/F
Alternative Reference PP-04419492
Application Received Tue 01 Sep 2015
Application Validated Thu 03 Sep 2015
Address 7 - 9 Frome Valley Road Bristol BS16 1HD
Proposal Demolition of an existing vehicle repair garage and car sales office/driving school booking office, and the erection of a block of flats containing 8 self-contained units.
Status Decided
Decision GRANTED subject to condition(s)
Decision Issued Date Mon 30 Nov 2015
Appeal Status Unknown

RENTAL APPRAISAL

The local lettings experts say:

The Bristol Residential Letting Co. are confident this property would make a good rental investment. Don McKeever of The Bristol Residential Letting Co suggests the following rents subject to the property being developed into 1 and 2 bed flats
1 Bed: £700-£750
2 Bed Maisonette: £850-£900pcm
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.

*** EXTENDED COMPLETION ***

Please note the sale of this property has an extended completion of four months to allow for vacant possession

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