Sold @ Auction £450,000

FOR SALE BY AUCTION

*** SOLD @ MAY AUCTION ***

GUIDE PRICE £395,000 +++
SOLD @ £450,000

LOT NUMBER 18
Wednesday 24th May 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

COMPLETION DATE

Completion is now set for 20 working days FOLLOWING receipt of satisfactory planning permission for the Access way.
REFER TO LEGAL PACK FOR FULL DETAILS AND PLAN OF ACCESS WAY
South Gloucestershire Council wrote to to the vendors on 10th May estimating a response to their planning application for the change of access on 14th June. Refer to the legal pack for the full correspondence.

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

Jason Richardson
Davies & Partners
135 Aztec West, Almondsbury, Bristol, BS32 4UB
Jason.Richardson@daviesandpartners.com
Tel: 01454 619696

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

Conygre House ( 6164 Sq Ft ) is an imposing Period property arranged over three floors occupying a mature plot of 0.3 Acres ( 1284 m2 ) which includes 13 parking spaces. The 18th Century former farmhouse has been most recently used as offices – owned and occupied by South Gloucestershire council until 2016 but is now offered with vacant possession for residential development.

LOCATION

Conygre House is located within the popular suburb of Filton approximately 6 miles north of Bristol city centre and well located to the motorway networks (M4 Jct 18 and M5 interchange Jct 15). Local amenities and services including convenience stores, pubs, cafes are all within close proximity. The University of The West of England is less than two miles away.
Large employers such as MOD, Southmead Hospital, BAE Systems and Rolls Royce are close by and it is a short walk to Filton Abbey Wood Train Station whilst Gloucester Road North has a regular bus service to the City Centre.

THE OPPORTUNITY

RESIDENTIAL DEVELOPMENT

7 FLATS

Conygre House has permitted development granted for seven apartments
REFER TO PLANS IN ONLINE LEGAL PACK

SERVICED APARTMENT SCHEME

The Vendors have received positive pre-application feedback for conversion of the building into hotel-type serviced apartment units.
We understand this would be capable of producing a gross income of £195,000 a year assuming 75% occupancy and nightly rates of £70 per night for one beds and studios and £90 for two beds.
PRE-APPLICATION REFERENCE NO: PRE16/1116
DESCRIPTION: Conversion of Conygre House together with erection of a new building to form 27 serviced 'quasi-hotel' apartments. See Legal Pack.

9 FLATS

Subject to gaining the necessary consents we understand there is scope to increase the density to 9 flats which would increase the GDV to circa £1.5m
REFER TO PLANS IN ONLINE LEGAL PACK

NO VAT

Please note we are informed NO VAT is payable on this Lot.

PLANNING GRANTED 7 FLATS

TOWN & COUNTRY PLANNING (GENERAL PERMITTED DEVELOPMENT) (ENGLAND) ORDER 2015 SCHEDULE 2 PART 3 CLASS O CHANGE OF USE – OFFICE TO RESIDENTIAL NOTICE OF DECISION

South Gloucestershire Council in pursuance of powers under the above mentioned Act hereby GRANT PRIOR APPROVAL FOR:
APPLICATION NO: PT16/0481/PNOR DESCRIPTION OF DEVELOPMENT: Prior notification of a change of use from Offices (Class B1a) to 7no. dwellings (Class C3) as defined in the Town and Country Planning (Use Classes) Order 1987 (as amended).
APPLICANT: Bristol Property Partnership LOCATION: Conygre House Conygre Road Filton South Gloucestershire BS34 7DD

PROPOSED GDV 7 FLATS

FLAT 1 - £165,000 - £175,000 ( 597 Sq ft )
FLAT 2 - £225,000 - £235,000 ( 985 Sq ft )
FLAT 3 - £155,000 - £165,000 ( 580 Sq ft )
FLAT 4 - £175,000 - £185,000 ( 720 Sq ft )
FLAT 5 - £155,000 - £165,000 ( 586 Sq ft )
FLAT 6 - £175,000 - £185,000 ( 741 Sq ft )
FLAT 7 - £155,000 - £165,000 ( 560 Sq ft )

GDV £1.205 - £1.275M

RENTAL APPRAISAL

The local experts say;

The Bristol Residential Letting Co. are confident this property would make a good rental investment if developed into flats for the professional market.
Don McKeever of The Bristol Residential Letting Co suggests a rent in the region of:

1 Bedroom apartment - £700-750pcm
2 Bedroom apartment - £800-850pcm
3 Bedroom apartment - £950-1050pcm

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.

ACCESS ROAD

Planning has been sought and will be granted to create a new access into the site from Conygre Road - please refer to legal pack for further information

ADJACENT SITE

Buyers should note the adajcent site has been retained and will shorlty be developed into a scheme of houses and is not included in the sale.

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 Bristol based “ Life for a Cure” as our 2017 Charity of the year which aims ‘a LIFE for a CURE’, to raise funds in support of finding the ‘Ultimate Vaccine’ for Meningitis B. We are delighted to announce that 5 % of every buyer’s premium will be donated to ‘a Life for a Cure’ which was founded as both a legacy to Ryan and to help raise awareness and valuable funds in search of the ultimate vaccine. This Bristol charity run purely on a voluntary basis is simply about working together to stop other amazing young lives being lost to meningitis. - to learn more about Ryans Story and this fantastic cause please visit there website. www.ryanbresnahan.org/ In 2016 we raised £4,000 for Bristol based housing charity “Home Start” to learn more visit the charity section of our website - www.hollismorgan.co.uk/charity/