31, East Street, Bedminster, BS3 4HH
Auction Guide Price +++ £100,000
Lot No


FOR SALE BY AUCTION

LOT NUMBER
Wednesday 28th November 2018
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

EXTENDED COMPLETION

Completion is set for 8 weeks or earlier subject to mutual consent.

WEEKLY SET VIEWING

FIRST VIEWING DATE: TUESDAY 23RD OCTOBER @ 11:00 AM

VIEWING TIMES TO BE RELEASED SHORTLY - PLEASE REGISTER FOR ONLINE LEGAL PACK TO BE KEPT UPDATED.

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.

SOLICITORS

Alex Rossiter
Gregg Latchams
7 Queen Square,
Bristol BS1 4JE
tel 0117 906 9400
email: alex.rossiter@gregglatchams.com

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.
There will be a note added to the list to confirm AUCTION PACK NOW COMPLETE when no further information is due to be 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

An imposing Freehold former bank premises ( 4260 Sq Ft ) occupying a prominent High Street position in the Centre of Bedminster.

LOCATION

East street is a popular pedestrianised High Street with a wide range of retailers and traders serving the local area yet within one mile of the City Centre and close to North Street.

THE OPPORTUNITY

Planning has been granted to develop the property into an exciting mixed use scheme of 3 flats and a landmark restaurant.
Work has commenced and the property is sold as seen but now requires completion.

GROUND FLOOR AND BASEMENT RESTAURANT / BAR

Stylish restaurant with A3 usage and double height ceilings / mezzanine level.
Plus Basement Level for Kitchens etc.

FIRST FLOOR FLAT

Two bedroom flat with roof terrace and private entrance ( 63.5 Sq M )
Basic stud work etc in place.

SECOND FLOOR FLAT

Three Bedroom flat with two bathrooms ( 87 Sq M )

TOP FLOOR FLAT

Two Bedroom Flat plus study and two bathrooms ( 70.5 Sq M )
New build scheme - partially constructed with roof in place.

ALTERNATIVE SCHEME

Drawings have been prepared to extend the property and allow the top floor flat to be a 3 bedroom unit.

DOWNLOAD PLANNING INFORMATION

Full details of the planning permission, drawings etc can be downloaded with the online legal pack.

RENTAL APPRAISAL

The local lettings experts say:

The Bristol Residential Letting Co. are confident this development site would make a good rental investment. Don McKeever of The Bristol Residential Letting Co suggests rents in the region of:

2 Bedroom Flat with roof terrace - £925pcm - £975pcm
3 Bedroom Flat with 2 bathrooms - £1100pcm - £1200pcm
2 Bedroom Flat with study and 2 bathrooms - £925pcm - £975pcm

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.

PLANNING FOR FLATS

Decision : GRANTED subject to condition(s)
Application no: 17/00618/F
Type of application: Full Planning
Site address: 31-33 East Street, Bedminster, Bristol, BS3 4HH
Description of development: Conversion and extension of upper floors to form 3no new flats, including new third floor and associated external alterations
Applicant: Mr J Singh
Agent: OXF Architects
Committee/delegation date: 10.05.17
Date of Notice: 10.05.17

PLANNING FOR RESTAURANT

Decision : GRANTED subject to condition(s)
Application no: 17/00619/F
Type of application: Full Planning
Site address: 31 East Street, Bedminster, Bristol, BS3 4HH
Description of development: Change of use of the ground floor to an A3 restaurant, including enlarged front windows
Applicant: Mr J Singh
Agent: OXF Architects
Committee/delegation date: 10.05.17
Date of Notice: 10.05.1

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.

PRE AUCTION OFFERS

Some properties may be available to buy prior to the auction.
Pre auction offers can be only submitted by completing the OFFER FORM which can be downloaded with the online legal pack - please email 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.
You will be emailed a note to confirm the AUCTION PACK NOW COMPLETE and then offers can be submitted.
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 buyer’s premium ( £1,200 ) to Hollis Morgan. Contracts can be signed either via the solicitors or at the Hollis Morgan offices subject to appointment.

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 charity based Off the Record! as our 2018 charity of the year with 5% of each buyers premium donated to help provide free and confidential mental health support and information to young people aged 11-25 in Bristol - www.otrbristol.org.uk In 2017 we were delighted to be involved in raising £30,000 over 3 events for the “Life for a cure” Bristol based meningitis charity - www.ryanbresnahan.org Visit the Charity page of our Website for further details - https://www.hollismorgan.co.uk/charity/


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