Sold @ Auction £800

ADDRESS

The Freehold and Ground Rents, 23 Charles Street, Bath, BA1 1HU

FOR SALE BY ONLINE AUCTION

LOT NUMBER 34
This lot will be offered for sale by Online Auction on Wednesday 29th April.
The bidding window opens at midday on 28th April 2020
Bidding will close at 3pm on 29th April 2020
Please register for the online legal pack to be kept informed.
Refer to 3 easy steps below for details on bidding and registration.

Please note that due to this unprecedented situation many of our client will be actively seeking pre auction offers.
If you are interested in any of the April Lots please follow the instructions on pre auction offers ( specifically waiting for legal packs to be completed ) as outlined.

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 inspected the COMPLETE LEGAL PACK once it has been released.
There will be a note added to the list to confirm AUCTION PACK NOW COMPLETE when no further information is due to be added.
In the event of an offer being accepted the property will only be removed from the auction the online auction and viewings stopped once contracts have successfully EXCHANGED subject to the standard auction terms and payment of the buyer’s premium ( £1000 + VAT ) to Hollis Morgan.
Contracts will need to be exchanged promptly via the solicitors.

SOLICITORS

Daisy Girvin
Capstick Solicitors
T: 01962 678395
daisy.girvin@capsticks.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.
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

23 Charles Street comprises an end-terrace, three-storey building with basement on a corner plot with return frontage to New King Street. The area immediately outside the front door is pedestrianised. The building is of Ashlar Stone elevations with a detailed portico surrounding the front door. Fenestration is of timber sash single-glazed windows. The rear courtyard at basement level is paved and has a clothes drying line and bin stores. We were not able to undertake an internal inspection, but from the lease plans provided, the building provides three studio flats, one on each floor, the ground-floor flat benefitting from a basement cupboard. The layout of the individual flats comprises a bedsitting room, bathroom and separate kitchen.

LOCATION

Charles Street is situated in the heart of Bath city centre, a World Heritage Site, characterised by Georgian Bath Stone buildings of which the subject property is typical. Charles Street is a relatively busy road through the city centre as it forms part of the A367. The area is predominantly residential to the west with offices and the Apex Conference Centre immediately opposite. The Sainsbury’s at the former Green Park Station is approximately 100 metres to the south and the Kingsmead Entertainment Centre approximately 250 metres to the east along James Street West.

THE OPPORTUNITY

FREEHOLD AND GROUND RENT INCOME

We understand that a Freehold Title is held, unencumbered and free from any unduly onerous or unusual easements, conditions and restrictions for outgoings.
We are not aware of any rights-of-way over the property.
We summarise the 3 leases as below

FLAT 1 LEASE INFO

Lease Commencement Date - 01 January 1986
Landlord - Knightstone Housing Association Ltd
Tenant - Rodney Lanfear
Term - 126 years
Rent - £10.00
Rent Review - None
Repairs and Insurance - The tenant contributes to towards the Service Charge.

FLAT 2 LEASE INFO

Lease Commencement Date - 01 January 2015
Landlord - Knightstone Housing Association Ltd
Tenant - T S Cottle, D J Hart and G L Cottle
Term - 999 years
Rent - £10.00
Rent Review - On the 50th Anniversary of the commencement date the rent shall increase to £20.00 and thereafter at 50-year intervals to £40.00, £80.00 and £160.00. Thereafter the rent will double in every 100 years.
Repairs and Insurance - The Tenant contributes by way of Service Charge.

FLAT 3 LEASE INFO

Lease Commencement Date - 01 January 1986
Landlord - Knightstone Housing Association Ltd
Tenant - Kim Elaine Robinson
Term - 126 years
Rent - £2.00 (being the rentcharge for the building).
Rent Review - None
Repairs and Insurance - Contributes the Service Charge

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.

ONLINE BIDDING GUIDE - THREE EASY STEPS

Step 1 – Register to Bid

Go to Hollis Morgan website and click on the lot page that you want to bid on
The online auction “widget” will automatically pop up to prompt you.
Log in ( or Register if your first time ) and follow the instructions.
You will be asked to upload your ID and verify your registration via SMS text.

Step 2 – Enter your payment details

On the 23rd April you will receive an email reminder to enter your payment details for the auction.
This is the earliest date that details can be provided.
You will not be approved for bidding unless payment details are provided.
Please note we require DEBIT CARD details.

Step 3 – Ready to Bid!

Once you have successfully completed the registration & payment process you will receive email confirmation you are authorised to bid.
You will be able to start placing your bids from midday on 28th April.
Bidding will close on 29th April at 3pm for lot 1 and at 5 minute intervals for the remaining lots.
Unlike eBay, bid sniping is impossible - All auctions will close as per their advertised ‘Auction End Date’, however if a bid is placed within the final 60 seconds of the auction’s scheduled end time the auction will be extended by an additional 60 seconds – known as the ‘bidding extension window’.
Download the Buyers Guide in the online legal pack for further information

Congratulations - you are the winner!

As the winning bidder you will receive email confirmation, payment of £6,200 will be taken and one of the Hollis Morgan Auction Team will contact you to talk you through the next steps.
2 important tasks to remember

•The deadline to transfer the remainder of the deposit is Friday 1st May

•You also need to nominate your solicitor to complete the transaction

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.

WHY HOLLIS MORGAN?

WHY HOLLIS MORGAN?
Hollis Morgan hold the largest land & property auctions in the region.
Hollis Morgan sold more £££’s of Land & Property in both 2018 & 2019 than any other auctioneer in the region.
In fact, no auctioneer has sold more than Hollis Morgan since 2010 with over £289m of sales - £95m more than anyone else.
Hollis Morgan was the most successful Auctioneer in Bristol & North Somerset during 2018 – 2019 with an 87 % success rate.
*Source EIG – Sales in BS and GL postcodes by agents based in BS or GL postcodes.
*Source EIG – Sales in BS postcodes 2018 & 2019 by agents based in BS

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 All Aboard Watersports as our 2020 Charity of the year with 5% of each Buyers premium being donated.
All Aboard Watersports strive to make it possible for everyone in the local community to join in a range of watersports and water related activities for people with physical, emotional or cognitive disabilities in the historic Bristol City Docks - www.allaboardwatersports.co.uk
In 2019 we were delighted to have raised well £10k for Bristol Zoo by supporting their Bear Wood Project at the Wild Place through events including the Hollis Morgan Opera Picnic and hosting their annual Gala Evening.
Visit the Hollis Morgan Charity page of our Website for further details - www.hollismorgan.co.uk/charity

AUCTION PROPERTY DETAILS DISCLAIMER

Hollis Morgan endeavour to make our sales details clear, accurate and reliable in line with the Consumer Protection from Unfair Trading Regulations 2008 but they should not be relied on as statements or representations of fact and they do not constitute any part of an offer or contract. All Hollis Morgan references to planning, tenants, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack. It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens. The seller does not make any representation or give any warranty in relation to the property and we have no authority to do so on behalf of the seller.