Sold @ Auction £680,000

FOR SALE BY AUCTION

GUIDE PRICE £600K +++
SOLD @ AUCTION - £680K

LOT NUMBER 39
Wednesday 24th February 2016
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

ONLINE LEGAL PACKS

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SOLICITORS

Angela Dunlop
Gregg Latchams
7 Queen Square
Bristol
BS1 4JE
Tel: (0)117 906 9400
Email: angela.dunlop@gregglatchams.com

THE PROPERTY

A mixed use Freehold investment property ( 3471 Sq Ft ) occupying prominent end of terrace position with access to the flats from Thorndale, a large ground floor extension and self contained recording studio in the basement.
The property is arranged as follows;

BASEMENT
Self contained Recording Studio

GROUND FLOOR + EXTENSION
Commercial Unit

FIRST FLOOR
Self contained 2 Bedroom flat

SECOND FLOOR
Self contained 2 Bedroom Flat

LOCATION

Situated between Whiteladies Road and Clifton Village with its eclectic range of shops wine bars and restaurants whilst The Business, Educational, Medical, Cultural and Leisure Facilities of the City Centre are within one and a half miles.The property is equally close to Durdham Downs with its acres of open land and woodland bounded on the south western side by the spectacular Avon Gorge with the historic Clifton Suspension Bridge providing a unique crossing to North Somerset.

THE OPPORTUNITY

An excellent investment or break up opportunity in this highly sought after and thriving area.
We understand there is scope to considerably increase the rent of the commercial unit.
There may be scope, subject to gaining the necessary consents, to add additional floors to the rear single story extension to either enlarge the existing accommodation or create a separate self contained dwelling.

INCOME

COMMERCIAL UNIT- £475 pcm - Rolling Since 2000
BASEMENT STUDIO- £550 pcm - Rolling AST
FIRST FLOOR - £900 pcm 12 Month AST terminating 10.10.16
TOP FLOOR - £895 pcm - 12 Month AST terminating 1.04.16

TOTAL - £33,840

RENTAL APPRAISAL

Lot 34: 34 Alma Vale Road, Clifton, BS8 2HY
The lot would provide a great opportunity to refurbish the residential flats to a high standard and achieve rental values of £975 per flat (£23,400p/a) Or subject to appropriate planning permissions the two flats could be combined to create a six bed student maisonette which would achieve circa £3000pcm or £36000p/a. There is also development potential to build (with appropriate consents) on top of the store room/studio. The development due to its location would suit both professional and student markets.
If you have any questions or queries regarding this valuation please contact us on 0117 911 3423, 07854367689 or info@clifton-rentals.co.uk

EPC

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

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.

BUYER'S PREMIUM

Please be aware all purchasers are subject to a £750 + VAT buyer's premium which is ALWAYS payable upon exchange of contracts whether the sale is concluded before, during or after the auction date.

OFFERS

Pre auction offers can be only submitted by completing the OFFER FORM which can be downloaded within the online legal pack. Please send 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 buyers premium to Hollis Morgan.

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 Home Start Bristol as our 2016 Charity of the year. We are delighted to announce that 10% of every buyer’s premium will be donated to this excellent local charity – Home-Start Bristol provides a unique kind of help which has a profound impact on struggling families with young children, 98% of those who finished a period of support reported that their wellbeing had increased. If you would like to find out more about Home-Start Bristol and how you can support us please visit our website www.homestartbristol.org.uk

AUCTION FINANCE

Some properties may require specialist auction finance- please contact Hollis Morgan for access to expert advice and "whole of market" rates.

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.