Ground and First Floor Flat, 272, St. Johns Lane, Bedminster, BS3 5AU

THE PROPERTY

GUIDE PRICE £300K - £325K

A large end of terrace Freehold property ( 1127 Sq Ft ) dating from 1926 and converted into two flats in 1995 with one off street parking space.
The Ground Floor Flat has been let for many years and would now benefit from some basic updating.
The First Floor Flat has been recently updated.

THE OPPORTUNITY

There is scope to convert the flats into 2 beds subject to gaining the necessary consents.
Excellent investment opportunity - potential income £18,000.
Break up opportunity - potential GDV circa £370k
Parking Space - Value of £5k + if sold separately.

GROUND FLOOR

*** NOW VACANT FROM 1ST MARCH ***

Ground floor one bedroom self contained flat ( 586 Sq Ft ) with private entrance.
Tenanted to a lady on housing benefit - tenancy began 4 years ago, exclusive on a rolling statutory monthly periodic tenancy agreement.
2 months notice by way of a Section 21 Notice on 12 January 2016 to vacant AFTER 25 March 2016."

RENTAL APPRAISAL
The Bristol Residential Letting Co. are confident this property would make a good rental investment. Don McKeever of The Bristol Residential Letting Co suggests a rental range of £700-£750 if let as a 1 bed. Should conversion to 2 double bedrooms be possible a rental range of £800-£850 will be achievable. The above is subject to the property being refurbished for the professional market.

RESALE
Once renovated as a 1 bed flat £165k - £175k or if converted to a 2 bed £175k - £185k

FIRST FLOOR

One bedroom self contained flat ( 541 Sq Ft ) with private entrance.
Vacant.

RENTAL APPRAISAL
The Bristol Residential Letting Co. are confident this property would make a good rental investment. Don McKeever of The Bristol Residential Letting Co suggests a rental range of £700-£750 if let as a 1 bed. Should conversion to 2 double bedrooms be possible a rental range of £800-£850 will be achievable. The above is subject to the property being refurbished for the professional market.

RESALE
Once renovated as a 1 bed flat £165k - £175k or if converted to a 2 bed £175k - £185k

LOCATION

St Johns Lane is within easy reach of the local shopping and entertainment to be found at North, West and East Street in Bedminster. The City centre is within two miles.