The Old Bakery, 9, North Street, Southville, BS3 1EN
Auction Guide Price +++ £600,000
LOT 25


Lot No 25

FOR SALE BY AUCTION

*** SOLD @ AUCTION ***

GUIDE £600,000 +++
SOLD £675,000

LOT NUMBER 25
Wednesday 28th 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

WEEKLY SET VIEWING

The property is OPEN FOR 30 MINUTES but please leave a minimum of 15 minutes to inspect the property.
Hollis Morgan would be grateful if you could arrive promptly to inspect the properties at the START of the specified times as we have scheduled viewings throughout the day and CANNOT wait for late arrivals.
You do not need to book an appointment as it is a set viewing – simply arrive at the stated time and a member of the Hollis Morgan Auction team will take your details and show you the property.
Please note there are no viewings on Bank Holidays or on the day of the auction.

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.
Follow the RED link 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.
*** 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.

THE PROPERTY

On the market for the first time in over 100 years and dating from 1874 this mixed use property of circa 5,000 Sq Ft - this unique property was formerly a bakery but has been occupied by a prominent local business since the 1970's with living accommodation on the upper floors.
The property is sold Freehold and with vacant possession.
The plot ( 0.1 Acre ) has vehicular access from North Street to the rear courtyard with a mixture of commercial, storage and residential space arranged predominately over two floors.

LOCATION

The property is located at the start of the vibrant North Street within the popular suburb of Southville. North Street offers an array of independent retailers, gourmet restaurants, affluent bars, cafes and friendly public houses. Bristol City Centre is less than1 mile away.

THE OPPORTUNITY

A Pre App has been submitted to convert the building into 10 x 1 and 2 bed Flats.
We understand there is huge scope for a residential development subject to gaining the necessary consents.
Alternatively buyers may wish to investigate a mixed use or purely commercial scheme in this highly south after location.

Completion is set for 28 days with vacant possession.

PLANNING HISTORY PRE APP SUMMARY

Pre application no: 15/05433/PREAPP
Site address: 9 North Street, Bedminster, Bristol, BS3 1EN
Proposal: Retain retail space and access to North Street. Upgrade existing flats, convert storage facility to flats. Build new flats to height of existing structure.

THE PROPOSAL
We understand that your proposal relates to the description of development as set out above. It is proposed to retain the existing retail unit on the ground floor and to renovate and reconfigure the existing flat on the ground and first floors. At the rear, it is proposed to convert the old bakehouse, currently used as storage, into flats. It is also proposed to extend parts of the bakehouse.

SUMMARY

Officers support the principle of residential development but due to the lack of detail we are unable to give you an indication on the quantum of development that might be acceptable. Similarly, it has not been possible to comment in detail on the new build elements of the proposal.

PRINCIPLE OF DEVELOPMENT
The site is located in a sustainable location within Bedminster town centre. The principle of residential development is considered acceptable subject to detailed design and heritage considerations.

HERITAGE ISSUES
Although the buildings on the site are unlisted, they make a positive contribution to the character of the Bedminster Conservation Area and their retention is welcomed. There is scope to improve the shopfront onto North Street and to remove the steel roller shutters. The original features such as the pilasters and window surrounds should be retained. At the rear, the old bakehouse is of interest and we would encourage that the original fabric and the window openings are retained as far as possible in any conversion scheme. We would not support the demolition of this building.
The Council’s Archaeologist has commented as follows: “There are no major archaeological issues. The reuse of the former bakehouse may involve some impact upon historic fabric and more information will be needed on the nature and potential impacts upon existing buildings”.

IMPACT ON RESIDENTIAL AMENITY
There may be scope to subdivide the existing residential accommodation into smaller units. The old bakehouse building would also be suitable for residential use.

RENTAL APPRAISAL

The local lettings experts say;

The Bristol Residential Letting Co. are confident this development would provide a good return on investment if converted into flats as suggested. Don McKeever of The Bristol Residential Letting Co suggests a rental range of £725-£775pcm for 1 bed flats and £900-£950pcm for 2 bed flats, subject to being suitable for the professional market.

EPC

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

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.

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.

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.

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.

TELEPHONE AND PROXY BIDDING

If you cannot attend the auction (although we strongly advise you do) you can make a TELEPHONE or PROXY BID. This authorises the auctioneer to bid on your behalf up to a pre-set limit. Forms and relevant conditions are available to download with the online legal pack. A completed form, ID and two cheques (one for the 10% deposit and one for the Buyer's Administration Fee of £900) are required by the Auction Department at least two full working days before the auction.

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.

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

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