Sold @ Auction £380,000

FOR SALE BY AUCTION

GUIDE PRICE - £250,000
SOLD @ AUCTION - £380,000

LOT NUMBER 28
Wednesday 15th April 2015
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

BRISTOL CITY COUNCIL

This lot is offered on behalf of Bristol City Council.

THE PROPERTY

A grand hall floor apartment with high ceilings plus bright and airy accommodation. The property has been extended to the rear and includes an undeveloped basement.
The property includes approximately 1/3 of the rear garden with access from the kitchen / utility area and sole use of the front garden.

LOCATION

Whatley Road is a quiet residential area located just off Whiteladies Road. Local amenities and services including mini supermarkets, bars, pubs, cafes and restaurants are all within close proximity. Clifton Downs, Bristol University and The Bristol Royal Infirmary are also within walking distance.

THE OPPORTUNITY

the property now requires complete modernisation.
Scope to develop the basement level subject to PP.
The property includes the Freehold.

20a WHATLEY ROAD

The first floor flat is occupied by a council tenant on a long leasehold.
PLEASE NOTE THE FIRST FLOOR FLAT HAS SOLE USE OF THE REAR 2/3 rds OF THE GARDEN.

CLIFTON RENTALS

Craig Still of Clifton Rentals recommends:

This great split level flat offers the purchaser great options to renovate and develop the property. Because of its size there are various options available – outlined below are the two options we believe offer the successful bidder the best rental return. Due to the flats current location it would be suited to either professional or student markets – the development depending on how it was done may require consents to be obtained from council. Both possibilities refer to rooms as shown on floor plan.

1.) Renovate as Professional let property

The flat could be developed at a lovely three double bed flat. Firstly the wall between the rooms shown as Bedroom 1 and kitchen could be removed and a split level open plan kitchen, diner and lounge. The rooms listed as reception and bedroom 2 would become bedrooms. The basement level could be dug down and a master suite with its own en suite (in smaller basement room) and even a walk in wardrobe (where current coal store is) could be developed. Under the stairs that lead to the basement you would create a well sized family bathroom. You could create a cloak room in the current cupboard in main hallway. The current bathroom could be either kept or more likely turned into a utility room. Ideally you would convert the front garden into parking spaces for the flat. A flat like this would attract corporate clients here for fixed term contracts. If done to a high specification with parking you would achieve £2750.00 - £3000.00pcm.

2.) Renovate as a Student let

With the correct consents you could create a 6 bedroom student property. Firstly you could split the current reception room in half, bedroom 2 would remain unchanged. You would create a shower room in the current cupboard in hallway. The kitchen could be slightly reduced in size and the current bathroom at rear would be converted into a bedroom. The current bedroom 1 would become the lounge/diner. The basement would be lowered and two bedrooms created in the current basement rooms. The space under the stairs to basement would also be lowered to create a large bathroom. If done to a good standard the return for this would be in region of £3000.00pcm. Due to potential planning restrictions the number of bedroom and configurations could easily be lowered and configuration varied to suit. If rooms were reduced the successful bidder should work on each bedroom renting for £500.00pcm.

If you have any questions regarding these valuations please call Clifton Rentals – 0117 9113423 or 07854367689 or email info@clifton-rentals.co.uk

BUYER'S PREMIUM

Please be aware all purchasers are subject to a £500 + 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.

AUCTION BUYERS GUIDE

Available to download via our purpose built property website.

AUCTION FINANCE

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

TESTIMONIALS

We are very proud of what our clients say about us - please visit our website to read our Testimonials: www.hollismorgan.co.uk/auction-testimonials.html

CHARITY OF THE YEAR

Hollis Morgan are supporting Dance Voice as their 2015 Charity of the year. We are delighted to announce that 10% of every buyers premium will be donated to this excellent local charity - Dance Voice is dependent on voluntary donations to run its dance movement psychotherapy sessions which enable so many vulnerable people express themselves and improve and integrate their physical, emotional and social health and wellbeing. For further details on their outstanding work in the community please visit www.dancevoice.org.uk In 2014 Hollis Morgan successfully raised £2,500 for Bristol Children's Help Society www.tbchs.org.uk