Sold @ Auction £975,000

FOR SALE BY AUCTION

*** SOLD PRIOR TO AUCTION ***

LOT NUMBER
Wednesday 28th September 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

WEEKLY SET VIEWING

The property is OPEN FOR 30 MINUTES but please leave a minimum of 15 minutes to inspect the property.
Hollis Morgan would be grateful if you could arrive promptly to inspect the properties at the START of the specified times as we have scheduled viewings throughout the day and CANNOT wait for late arrivals.
You do not need to book an appointment as it is a set viewing – simply arrive at the stated time and a member of the Hollis Morgan Auction team will take your details and show you the property.
Please note there are no viewings on Bank Holidays or on the day of the auction.

SOLICITORS

Mark Beaumont
STAR LEGAL LIMITED
Incorporating Lindleys Solicitors
DD: 01275 870742
Reception: 01275 877277
Mark.Beaumont@star-legal.co.uk
DX: 30360 Clevedon
Star Legal Limited, The Reading House, 11 Alexandra Road, Clevedon, BS21 7QH

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 end of terrace 1970s property that was converted 8 years ago into a 20 bed HMO student investment property.
Freehold

LOCATION

Nine Tree Hill is located within the cultural suburb of Stokes Croft just off the Cotham and Kingsdown borders. The vibrant Cheltenham Road is nearby and offers an array of independent retailers, cafes, bar, pubs and restaurants. Bristol City Centre is less than a mile away.

THE OPPORTUNITY

Excellent long term investment currently producing an income of £104,220 per annum.
Long term there is clearly scope to develop the site by either adding an extra storey and circa 10 bedrooms or for a larger scale demolition and flat development - all subject to gaining the necessary consents.

INCOME SCHEDULE

ROOM 1

- £445 pcm
- Date moved in 25/08/2016

ROOM 2

- £445 pcm
- Date moved in 25/08/2016

ROOM 3

- £445 pcm
- Date moved in 01/08/2016

ROOM 4

- £445 pcm
- Date moved in 23/08/2016

ROOM 5

- Currently vacant but in the process of being let for £445 pcm

ROOM 6

-£445 pcm
- Date moved in 17/08/2016

ROOM 7

- £445 pcm
- Date moved in 01/09/2016

ROOM 8

- £445 pcm
- Date moved in 24/08/2016

ROOM 9

- £445 pcm
- Date moved in 12/08/2016

ROOM 10

- £445 pcm
- Date moved in 01/07/2016

ROOM 11

- £445 pcm
- Date moved in 01/07/2016

ROOM 12

- £445 pcm
- Date moved in 01/08/2016

ACCOMMODATION

12 self contained bedrooms with kitchen and bathroom facilities arranged over three floors with communal kitchens and bathrooms - please refer to floor plans.

LOCAL EXPERTS

The property is managed by local student lettings experts DIGS
0117 930 8750
www.bristoldigs.co.uk

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.

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.

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