7, Redcross Street, Old Market, BS2 0BA
Sold @ Auction £1,600,000
LOT 25


Lot No 25

FOR SALE BY AUCTION

*** SOLD @ NOVEMBER AUCTION – 95% SUCCESS RATE AND OVER £10M OF LAND AND PROPERTY SOLD ***

GUIDE PRICE £1.4M +++
SOLD PRIOR @ £1.6M

LOT NUMBER 25
Wednesday 29th November
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

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.

SOLICITORS

Imam Qazi
Foot Anstey
2 Glass Wharf, Bristol, BS2 0FR
0117 915 4900
imam.qazi@footanstey.com

THE PROPERTY

A Freehold Grade II listed period property ( 14,994 Sq Ft ) with modern extensions occupying a prominent corner position close to Cabot Circus - the property is arranged over three floors with secure parking to the rear.
The property was purchased from Bristol City Council having been a science faculty for many years and was recently converted ( at considerable expense and subject to an exhaustive renovation ) into an School plus six studio apartment accessed via the external staircase to the rear.
The School element which makes up the bulk of the accommodation is now vacant and the studios are let on rolling AST agreements at £650 pcm per unit but the tenants will vacate for completion

*** VACANT POSSESSION UPON COMPLETION ***

UPDATE ON GRADE II LISTING

We are informed by our vendors solicitor - "Please note that only part of the property is Grade II listed. It is the Georgian part of the property which is listed. The listed part of the property has been incorporated into the surrounding office block."

LOCATION

The property is located on the edge of Old Market bordering the Cabot Circus retail park which provides local amenities and services all within close proximity including independent retailers, convenience stores, pubs, cafes and restaurants.
The University of Bristol and BRI are both within 1.5 miles.

THE OPPORTUNITY

DEVELOPMENT - 21 FLATS

A Pre App and plans have been produced to convert the building into 21 residential units - please refer to legal pack.
Pre application no: 17/02506/PREAPP

STUDENT ACCOMMODATION / HMO

Given the proximity to both the University of Bristol and Cabot circus the building is ideally position for both student and young professionals.

EXTEND / ADDITIONAL STOREYS

There is scope to extend the property to the rear and to add additional storeys ( subject to consents ) to create further potential development.

HOTEL / OFFICE BLOCK

Continued commercial use in this highly sought after central location

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.

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.

EPC

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

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.
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 ( £900 ) 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.

AUCTION FINANCE

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

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.

TESTIMONIALS

We are very proud of what our past clients have say about us - please visit the Hollis Morgan website to read their testimonials.

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.

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/

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 )

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