Sold @ Auction £245,000

FOR SALE BY AUCTION

*** SOLD PRIOR TO AUCTION ***

LOT NUMBER 18
Wednesday 30th November
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

George Boyd Gibbins.
Star Legal Solicitors
george.boyd-gibbins@star-legal.co.uk
0117 965 3504
884 Fishponds Road, Fishponds, Bristol, BS16 3XB
DX 30751 Fishponds

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 vacant Freehold red brick period property ( 3026 Sq Ft ) thought to have originally been a bakery and arranged over three floors with access from a lane off Bell Hill Road.

EXTENDED COMPLETION

Completion is set for January 6th 2017
EXTENDED COMPLETION is available upon written request to Hollis Morgan

LOCATION

Bell Hill Road is located within the popular suburb of St George. Local amenities and services are all within close proximity including the vibrant Church Road which boasts an array of independent retailers, pubs, bars, cafes and restaurants. Bristol City Centre is approximately three miles away.

THE OPPORTUNITY

The property now requires modernisaiton and offers huge scope for development in this highly sought after central area.

FLAT CONVERSION

Planning has been granted to convert the premises into 3 x 2 bedroom self contained flats
We understand the flats will generate a GDV of £525,000

STUDIO DEVELOPMENT

An alternative scheme exists ( subject to consents ) to convert the building into 12 studio apartments which would generate an income of ( £550 pcm per unit ) £66,000 per annum
Please refer to legal pack for proposed layout.

PLANNING GRANTED

Reference 15/06659/F
Application Received Tue 29 Dec 2015
Application Validated Tue 29 Dec 2015
Address Workshop To Rear Of 138 Bell Hill Road Bristol BS5 7NF
Proposal Conversion of existing empty warehouse to 3 no. self contained flats.
Status Decided
Decision GRANTED subject to condition(s)
Decision Issued Date Tue 23 Feb 2016
Appeal Status Unknown
Appeal Decision

PLANS AND PLANNING INFORMATION

Please download all plans, elevations and associated drawings with the on line legal pack.

RENTAL APPRAISAL

Having determined this property’s viability for investment, we are pleased to offer our services to investors that are interested in purchasing The Old Bakery.

The Bristol Residential Letting Co. is one of the largest independent letting & property management companies specialising in the City of Bristol. As well as letting and management, we advise investors on potential investment opportunities. We identify investment properties for current landlords/investors and advise investors like you on the suitability of a property for the Bristol professional rental market.
Having been operating for over 10 years, we now have 2 thriving branches. Our Clifton based branch covers the North of the City, while our Southville based branch covers the South of the City. By covering the majority of Bristol, we have become experts in our City.

What rent can we achieve for you?

The Bristol Residential Letting Co. are confident this property would make a good rental investment if converted to 2 bedroom flats. Don McKeever of The Bristol Residential Letting Co suggests a rental range of £825-850pcm.
If you would like to discuss more detail on the potential for rental, you can call me (0117 370 8818) or email (don@bristolreslet.com) for a no obligation discussion. Alternatively why not drop into my Office (222 North Street, Southville, BS3 1JD) where I am always happy to advise investors on maximising their investment.

I will look forward to hearing from you and helping you with your investment.

Yours faithfully,
Don McKeever

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.

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.

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