Sold @ Auction £295,000

FOR SALE BY LIVE ONLINE AUCTION

*** SOLD @ FEBRUARY AUCTION ***

GUIDE £215,000 +++
SOLD @ £295,000

ADDRESS | 194 Lawrence Hill, Lawrence Hill, Bristol BS5 0DR

Lot Number 34

The Live Online Auction is on Wednesday 14th February 2024 @ 17:30
Registration Deadline is on Monday 12th February 2024 @ 16:00

The Auction will be streamed LIVE ONLINE via the Hollis Morgan website & you can chose to bid by telephone, proxy or via your computer.
Registration is a simple online process – please visit the Hollis Morgan auction website and click “REGISTER TO BID”

VIEWINGS

Please submit a viewing request online and we will contact you to organise an appointment.
We will send you an email and text to confirm the appointment time and the full property address.
Viewings are supervised by a member of the Hollis Morgan Auction team who will meet you at the property.

EXTENDED COMPLETION

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

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.
Press the GREEN button 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.

EPC

For full details of the EPC please refer to the online legal pack.

LEGAL PACK COMPLETE

We have been informed by our client’s solicitors that the legal pack for this lot is now complete.

Should any last minute addendums occur you will be automatically notified by email.

If the vendors have indicated they are willing to consider pre-auction offers, now is the time to submit your offer by completing the pre-auction offer form.

THE PROPERTY

A Freehold mixed use property occupying a prominent position on this established trading position.
The property has accommodation ( 2858 Sq Ft ) over 3 floors plus basement comprising

Retail Unit - Ground Floor and Basement Trading as Kebab Takeaway
Flat A - Top Floor 2 Bedroom maisonette
Flat B - Ground Floor 1 Bedroom Flat
Flat C - First Floor 2 Bedroom Flat

Sold subject to existing tenancies.

LOCATION

The property is situated in the heart of Lawrence Hill and boasts excellent transport links providing easy access to the M32 and the nearby Lawrence Hill train station. The property benefits from a wide range of local shops, cafes and supermarkets that serve the local community both on Church Road and Old Market whilst the City Centre and Cabot Circus are within 1 mile.

THE OPPORTUNITY

MIXED USE INVESTMENT | £33,424 PA

The property is fully let for 4 sets of tenants;

Retail Unit – Commercial Lease from February 2019 up to September 2024 he pays 960 per month with 1 month a year at half rent due to ramadan – we are informed no arrears
Flat A – AST @ £700 pcm
Flat B – AST @ £475.40 every 4 weeks paid by Bristol city council housing department – We are informed no arrears
Flat C – AST @ £650 pcm – We are informed no arrears

Please refer to online legal packs for copies of the leases etc.

BASIC UPDATING | INCREASE RENTS

The flats would benefit from some basic updating and there is scope to increase the rental income subject to these works being completed.

SOLICITORS

Alex Rossiter
Wards
Alex.Rossiter@wards.uk.com
0117 9434819

MATERIAL INFORMATION

Tenure - Freehold
Council Tax -
EPC - D,E,G
Utilities, Rights & Restrictions - Please refer to the Legal Pack
Flood Risk - Please refer to the Legal Pack

IMPORTANT AUCTION INFORMATION

IMPORTANT AUCTION INFORMATION

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 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 vendors are willing to consider offers prior to the auction.
Pre auction offers can ONLY be submitted by completing the online PRE AUCTION OFFER FORM
The form can be found on the Hollis Morgan website on the individual auction property listing.
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 our client’s solicitor informs us no further information is due to be added.
In the event of an offer being accepted the property will only be removed from 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 can be exchanged via the solicitors or at the Hollis Morgan offices by appointment only.

REGISTRATION PROCESS
The registration process is extremely simple – visit the Hollis Morgan auction website and click on the “Register to Bid” button.
The “Register to Bid” button can be found on the auction home page or on the individual lot listings.
Please note this function is not available on Rightmove or Zoopla.

Stage 1 – Complete the Online Bidding Form
Stage 2 – Upload your certified ID
Stage 3 – Invitation to bid
Stage 4 – Pay your security deposit (£6,200)

You are now ready to bid – Good luck!
If your bid is successful, the balance of the deposit monies must be transferred to our client account within 24 hours of the auction sale.
If you are unsuccessful at the auction the hold placed on your card will be lifted.

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.

AUCTION FINANCE & BRIDGING LOANS
Some properties may require specialist auction finance- please contact Hollis Morgan for access to expert advice and whole of market rates from our independent brokers.
Hollis Morgan may receive introductory fees for this service from the broker.

2024 CHARITY OF THE YEAR
Hollis Morgan is supporting The Malcolm Gunter Foundation as our 2024 Charity of the year with a % of each Buyers premium being donated.
In 2018 Malcolm Gunter passed away from Motor Neurone Disease - In his memory, MGF has raised over £200,000 and provided support and grants for many local people living with and affected by MND.
100% of all monies raised will be utilised in supporting sufferers of MND with their physical and emotional needs, and research into the disease .
Visit the Hollis Morgan Charity Page of our website for further details

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.