4 a, Colston Parade, Redcliffe, BS1 6RA
Sold @ Auction £323,000
FOR SALE BY AUCTION
SOLD @ AUCTION - £323,000
GUIDE PRICE - £275,000
LOT NUMBER 18
Wednesday 30th September
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
4A occupies the hall floor of this charming Georgian Terrace and spans across both 4 and 5 Colston Parade with unrivalled ecclesiastical views over St Mary Redcliffe and offers spacious accommodation of 2,876 Sq Ft in the heart of the City.
It also includes the entire basement level
The flat is approached via smart communal areas and is currently arranged as 3 bedrooms and kitchen diner with bathroom and various storage.
The flat will be sold on a new 999 year lease with use of the communal garden to rear.
New management company will be formed with share of freehold - please refer to legal pack.
Gas Central Heating and Door Entry System.
*** SOLD WITH VACANT POSSESSION ***
Occupying a central and convenient position close to the heart of the City of Bristol. To the West is the Harbour Side, Queen Square and the Centre with its wide range of culture facilities whilst to the East is Temple Quay with its new ''Business'' Centre and Temple Meads Railway Station and to the North is Cabot Circus with its wide range of shopping facilities.
The property has been let for many years and would now benefit from updating but has the potential for both a stunning and large home or investment with one of the most iconic views in Bristol in this highly sought after area.
We believe there is scope to dramatically increase the current rental income once modernised ( See Appraisal )
Given the size there may be scope to rearrange the layout to increase the number of bedrooms to 4 – 5 + lettable rooms on an HMO basis.
We understand there may also be an opportunity to split the flat into two separate units.
All subject to gaining the necessary consents.
PLANNING AND THE BASEMENT
Planning has been granted to convert the existing hall floor and basement levels into two self contained maisonettes.
An alternative scheme may be to create two studio flats in the basement or to incorporate the basement into the hall floor living space for a single dwelling of up 6 bedrooms. ( All subject to PP )
Application Received Mon 06 Jan 2014
Application Validated Mon 06 Jan 2014
Address 4 & 5 Colston Parade Bristol BS1 6RA
Proposal Application to approve reserved by condition 2 (Further details) attached to planning permission 11/00232/F, which approved the conversion of existing ground floor flat and basements to form two maisonettes with associated internal and external alterations, and the provision of communal refuse and cycle stores within the rear garden.
Please contact Calum Melhuish, Residential Sales Manager, to discuss the value of this property once renovated – firstname.lastname@example.org
Calum Says; “ With one of the most interesting views in the City once developed I would suggest the value of the two maisonettes to be in the region of £225k - £250k or if the basement was modernised and included into the Hall Floor then i would suggest its values would be in excess of £375,000 and will attract interest from both investors and owner occupiers”
The property has previously been let for £1100 pcm / £13,200 pa but has been vacant since August 2015 to allow for viewings.
The local lettings experts say:
The Bristol Residential Letting Co. is confident this property would make a good rental investment if converted into 2 x 2 bedroom maisonettes. Don McKeever of The Bristol Residential Letting Co suggests a rent in the region of £1300 - £1400pcm for both properties if finished to an appropriate standard.
If kept as a 2 bedroom ground floor apartment, a rent in the region of £1300-£1400pcm would be achievable.
If you would like to discuss more detail on the potential for rental, you can call Don (0117 370 8818) for a no obligation discussion. He will be very happy to advise on maximising the return on this property.
For full details of the EPC please refer to the online legal pack.
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.
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.
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.
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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