Sold @ Auction £737,000

FOR SALE BY AUCTION

*** SOLD @ NOVEMBER AUCTION – 95% SUCCESS RATE AND OVER £10M OF LAND AND PROPERTY SOLD ***

GUIDE PRICE £650,000 +++
SOLD @ £737,000

LOT NUMBER 4
Wednesday 29th 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

UPDATE 29.11.17

Please be aware we understand that the HMO license expired in 2016 having been in place for 5 years. Although the seller informs us that he has applied to Bristol City Council for this to be re-newed and paid the fees - we understand some minor works may be required to the property but we have no further details. The buyers must therefore satisfy themselves in this respect.

EXTENDED COMPLETION

Completion is set for 8 weeks or earlier subject to mutual consent.

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

Janice Cowley
Bond Dickinson
0345 415 0000
Email: janice.cowley@bonddickinson.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 Freehold mid terrace Clifton Townhouse( 2437 Sq Ft ) arranged over 4 floors with enclosed rear garden.
The property is currently operating as a 6 bedroom HMO with separate lounge and kitchen.

LOCATION

Whatley Road is located within the heart of Clifton just a few hundred yards from Whiteladies Road with its wide range of Shops, Pubs, Restaurants and independent Retailers whilst Clifton Down shopping centre is also within a few minutes walk. Bristol University and the Bristol Royal Infirmary are both within one mile.

THE OPPORTUNITY

INVESTMENT / INCREASE RENTS ( PLEASE NOTE UPDATED FIGURES )

The property is currently let to 6 individual tenants on an AST agreement with the tenancy terminating in June 2018.
The 4 en suite rooms are let for £440 pcm and the 2 non en suite rooms are let for £420 pcm.
CURRENT INCOME £31,200
The rents are vastly below market rates and we would anticipate that once renovated the property would achieve circa £500 - £650 per room pcm
POTENTIAL INCOME £36K - £46K per annum

FAMILY HOME / RENOVATION PROJECT

The property would now benefit from basic updating having been let for many years but would make a fine home in this highly sought after location.

RENTAL APPRAISAL

The Local Experts Say...

A great house and location to get property into the student market for 2018/19. The house requires full refurbishment but you would leave the current layout the same. There is potential that you could put en-suite bathrooms to both the ground floor rooms and remove shower in utility room. The fact that it has an HMO licence means that you would need to apply when the 5-yearly licence expired but there would be no need to get any other consents to let such as planning. Once in the student market you would let you 6 people on an annual basis. If refurbished to a very high standard the property could achieve £550 per room £39600p/a.

If you have any questions or queries regarding this valuation please contact us on 0117 911 3423, 07854367689 or email our sister company info@bristol-student.co.uk

ACCOMMODATION SCHEDULE

Reception Room
11'1" x 20' (3.38m x 6.1m). Single glazed wood bay window facing the front. Radiator, carpeted flooring, ceiling light.

Utility
5' x 5' (1.52m x 1.52m). Single glazed wood window. Tiled flooring, ceiling light.

Kitchen
13' x 15' (3.96m x 4.57m). Single glazed wood window facing the rear overlooking the garden. Radiator, tiled flooring, ceiling light. Roll top work surface, fitted units, single sink, over hob extractor.

WC
5'3" x 5'8" (1.6m x 1.73m). Low level WC, pedestal sink.

Reception Room
11' x 20' (3.35m x 6.1m). Single glazed wood bay window facing the front. Radiator, chimney breast, ceiling light.

Bedroom
16' x 15' (4.88m x 4.57m). Single glazed wood sash window facing the rear. Radiator, chimney breast, ceiling light.

Bedroom
15' x 13'4" (4.57m x 4.06m). Single glazed wood sash window facing the rear. Radiator, a built-in wardrobe, ceiling light.

En-suite
6'3" x 5'1" (1.9m x 1.55m). Low level WC, roll top bath with mixer tap, shower over bath, pedestal sink with mixer tap, extractor fan.

Bedroom
16' x 15' (4.88m x 4.57m). Single glazed wood sash window facing the front. Radiator, ceiling light.

En-suite
6'7" x 5'5" (2m x 1.65m). Low level WC, roll top bath with mixer tap, shower over bath, pedestal sink with mixer tap, extractor fan.

Bedroom
15' x 13'4" (4.57m x 4.06m). Single glazed wood sash window facing the rear. Radiator, a built-in wardrobe, ceiling light.

En-suite
5'9" x 5'1" (1.75m x 1.55m). Low level WC, single enclosure shower, pedestal sink, shaving point.

Bedroom
14' x 13'1" (4.27m x 3.99m). Radiator, ceiling light.

En-suite
5'5" x 4'9" (1.65m x 1.45m). Low level WC, single enclosure shower, pedestal sink, extractor fan.

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/