Sold @ Auction £825,000

FOR SALE BY AUCTION

*** SOLD @ HOLLIS MORGAN NOVEMBER AUCTION ***

GUIDE £650,000 +++
SOLD @ £825,000

LOT NUMBER 50
Wednesday 28th November 2018
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

PRE AUCTION OFFERS

On this occasion the vendors will NOT be seeking any pre auction offers.

EXTENDED COMPLETION

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

SOLICITORS

Tony Moore
AMD Solicitors
0117 9744 100
tonymoore@amdsolicitors.com
15 The Mall, Clifton, BS8 4DS

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.
There will be a note added to the list to confirm AUCTION PACK NOW COMPLETE when no further information is due to be 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 double fronted period property occupying a prominent mid terraced position with 3577 Sq FT of accommodation arranged over three floors and enclosed rear garden.
The property is sold with vacant possession and retains the majority of the original period features etc.
The property was originally arranged as a family home but has in recent years been used informally as two separate flats with various letting rooms.

LOCATION

Lower Redland Road is located just off Whiteladies Road within the popular family suburb of Redland close to Redland Green Secondary School, the open space of Redland Green and the Lawn tennis Club are all within a few hundred yards.
Local amenities and services are all within close proximity including the vibrant Whiteladies Road which offers an array of independent retailers, cafes, affluent bars and gourmet restaurants whilst both Bristol University and Clifton Down Shopping Centre are nearby.

THE OPPORTUNITY

FAMILY HOME

The property is sold with vacant possession and is now in need of complete modernisation with scope to create a large 5/6 bedroom family home with enclosed rear garden in this highly sought after location.

FAMILY HOME + FLAT COMBO

There is scope to create a family home on the upper floors and a self contained flat in the basement.

FLAT CONVERSION

Having been recently used as two dwellings there is scope to create 3 - 4 self contained luxury flats subject to consents.

FLAT SCHEME - GDV

We would recommend the following scheme and values:

GARDEN TWO BEDROOM FLAT
£400,000 - £425,000

HALL FLOOR THREE BEDROOM FLAT
£375,000 - £400,000

FIRST FLOOR THREE BEDROOM FLAT
£350,000 - £375,000

TOTAL GDV
£1.125m - £1.2m

RENTAL APPRAISAL

A rare opportunity to own a large property with lots of potential for development. The property is clearly in need of significant modernisation. The property could be developed in many ways. As a family home you could achieve in the region of £2300 per calendar month.
By keeping to the current layout of the property is set out there is potential to have a large two bed property in the garden level, two x 1 bed properties in the hall floor and a three-bed property on the top floor. Rent that could be expected are as follows:

2 bed Garden £1400pcm
1 bed Hall floor (each) £900pcm
3 bed Top £1500pcm

Total £4700pcm

If you have any questions or queries regarding this valuation please contact us on 0117 911 3423, 07854367689 or craig@clifton-rentals.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 £1000 + VAT (£1,200 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.

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 £1,200) 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.

WHY HOLLIS MORGAN?

Hollis Morgan regularly hold the largest property auctions across Bristol and the West Country from our iconic Sale Room in Clifton, since we formed in 2010 we have sold the most £££'s of land and property by Public Auction in the region - EVERY YEAR!
Between 2010 and 2017 we have held 45 auctions, offering 1135 lots and raising over £225m for clients across the region
Did you know….Hollis Morgan sold more £££’s of land and property by auction than all the other Bristol Auctioneers combined in 2017 with over £49m of successful sales!

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 charity based Off the Record! as our 2018 charity of the year with 5% of each buyers premium donated to help provide free and confidential mental health support and information to young people aged 11-25 in Bristol - www.otrbristol.org.uk In 2017 we were delighted to be involved in raising £30,000 over 3 events for the “Life for a cure” Bristol based meningitis charity - www.ryanbresnahan.org Visit the Charity page of our Website for further details - https://www.hollismorgan.co.uk/charity/