Mixed use Development Opportunity @, 144, Cheltenham Road, Stokes Croft, BS6 5RL
Sold @ Auction £485,000
LOT 35


Lot No 35

FOR SALE BY AUCTION

*** SOLD @ AUCTION ***

GUIDE PRICE £340,000 +++
SOLD @ £485,000

LOT NUMBER 35
Thursday 6th April
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

PRE AUCTION OFFERS

On this occasion NO PRE AUCTION OFFERS will be considered.

SOLICITORS

Jonathan Wilson
Wards
jonathan.wilson@wards.uk.com
51 Henleaze Road, Bristol, BS9 4JU
0117 428 1999

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

A prominent mid terraced Freehold property arranged as a ground floor retail unit with plot to rear and two self contained one bedroom flats.

LOCATION

The property occupies a prominent position on the vibrant Cheltenham Road within the popular suburb of Stokes Croft. An array of amenities and services are all within close proximity including independent retailers, convenience stores, pubs, bars, cafes and restaurants. Bristol City Centre is within walking distance and less than two miles away.

THE OPPORTUNITY

An interesting investment / development / break up opportunity in a prime position in this highly sough after location

RETAIL UNIT / INVESTMENT

Let for £15,000 per annum on a 5 year lease from 15th June 2015 ( reduced by 50% whilst works are taking place / current income £7,500 until works completed )

FLATS FOR CONVERSION

The upper floors have planning permission to convert the existing maisonette into two self contained one bedroom flats.
The conversion has now stopped and the flats require finishing but as the images show the works have started - refer to legal pack.

BUILDING PLOT / COACH HOUSE

To the rear of the property is a plot with planning granted to erect a two bedroom coach house with courtyard garden.

PLANNING GRANTED FOR FLAT CONVERSION

Reference 15/03878/F
Alternative Reference PP-04367587
Application Received Tue 28 Jul 2015
Application Validated Fri 02 Oct 2015
Address 144 Cheltenham Road Bristol BS6 5RL
Proposal Conversion of maisonette to create two one bedroom self-contained flats.
Status Decided
Decision GRANTED subject to condition(s)
Decision Issued Date Tue 29 Dec 2015

PLANNING GRANTED FOR COACH HOUSE

Reference 16/04353/F
Alternative Reference PP-05374416
Application Received Thu 11 Aug 2016
Application Validated Tue 16 Aug 2016
Address 144 Cheltenham Road Bristol BS6 5RL
Proposal Removal of single storey workshop, erection of new two storey dwelling.
Status Decided
Decision GRANTED subject to condition(s)
Decision Issued Date Thu 10 Nov 2016

PLANS ETC

Full details of all planning information can be downloaded with the online legal pack.

NEW HOMES - GDV ADVICE

First Floor 1 Bedroom Flat - £215,000

Second Floor 1 Bedroom Flat - £215,000

2 Bedroom Coach House - £275,000

Please contact Calum Melhuish from the Hollis Morgan New Homes team to discuss GDV and details on this development.
0117 973 65 65
Calum@hollismorgan.co.uk

RENTAL APPRAISAL

The local lettings experts say:

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 rent in the region of £775pcm for the 1 bedroom flats and £1100pcm for the proposed 2 bedroom coach house.

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.

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 (£900 inc 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.

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.

BIDDING AT THE AUCTION

This property is for sale by public auction and if you intend to bid please bring the following:

Proof of identity (valid passport or photo driving licence).
Proof of address (bank statement, recent utility bill, council tax bill or tenancy agreement).
10% deposit payment.
Buyers premium payment.
Details of your solicitor.

PAYING THE DEPOSIT & BUYERS PREMIUM

We can only accept the following at the auction:

Personal or Company Cheque
Bankers Draft
Debit Card ( NOT CREDIT CARD )

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 Bristol based “ Life for a Cure” as our 2017 Charity of the year which aims ‘a LIFE for a CURE’, to raise funds in support of finding the ‘Ultimate Vaccine’ for Meningitis B. We are delighted to announce that 5 % of every buyer’s premium will be donated to ‘a Life for a Cure’ which was founded as both a legacy to Ryan and to help raise awareness and valuable funds in search of the ultimate vaccine. This Bristol charity run purely on a voluntary basis is simply about working together to stop other amazing young lives being lost to meningitis. - to learn more about Ryans Story and this fantastic cause please visit there website. www.ryanbresnahan.org/ In 2016 we raised £4,000 for Bristol based housing charity “Home Start” to learn more visit the charity section of our website - www.hollismorgan.co.uk/charity/

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