Sold @ Auction £200,000

FOR SALE BY AUCTION

*** SOLD @ AUCTION ***
GUIDE PRICE £200,000 +++
SOLD @ £200,000

LOT NUMBER 27
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

SOLICITORS

Saiema Sarwar
TLT LLP
One Redcliff Street
Bristol
BS1 6TP
D: +44 (0)333 006 1099

www.TLTsolicitors.com

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 mid terraced mixed use Freehold property arranged as ground floor retail unit with two self contained flats above.

EXTENDED COMPLETION

Completion has been set for 6th January 2017

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

The property is sold with the benefit of existing tenancies and having been let for many years now requires updating.
Interested parties will note the adjacent property that has been significantly developed into a high density flat scheme and we would suggest that ( subject to gaining the necessary consents ) there is scope for 6 - 8 Flats on this site.

RENTAL APPRAISAL

The local lettings experts say:

The Bristol Residential Letting Co. are confident this property would make a good rental investment if converted to development of flats similar to 8-12 Mill Lane. Don McKeever of The Bristol Residential Letting Co suggests rents of £750-800pcm for 1 bed new build flats in this area and £900-£950 for 2 beds subject to the development being suited to the professional market. 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.

EXISTING TENANTS AND INCOME

COMMERCIAL UNIT

Holding over under the terms of a lease dated 1st October 2008 @ £650 pcm

FLAT 2A

AST on a 6 month term from Nov 16 @ £350 pcm

FLAT 6A

Rolling AST from November 2014 @ £350 pcm

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