22, Islington Road, Southville, BS3 1QB
SOLD, £678,250


FOR SALE BY AUCTION

*** SOLD PRIOR TO AUCTION ***

GUIDE £600,000 +++
SOLD @ £678,250

LOT NUMBER 8
Wednesday 23rd May 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

THE PROPERTY

A Freehold semi detached period property ( 2579 Sq Ft ) arranged over 4 floors with an enclosed rear garden.
The property comprises a recently renovated 2 bedroom self contained flat with garden on the lower ground floor and a self contained 6 bedroom HMO on the upper 3 floors with communal kitchen, lounge and bathroom facilities.

LOCATION

Islington Road lies within the popular suburb of Southville. North Street is within walking distance and offers a wide variety of amenities including bars, pubs, cafes and independent retailers. Bristol City Centre and the Harbourside district is within a mile whilst there are also regular public transport links running from Bedminster to the Cabot Circus shopping complex which is approximately two miles away.

THE OPPORTUNITY

INVESTMENT

The property is currently let on AST Agreements producing an income of £42,840 pa ( Flat & HMO ) and is sold subject to the existing tenancies.

SCOPE TO INCREASE HMO INCOME

The HMO element of the property has scope to increase the income.
Whilst the property has been well maintained there is scope to upgrade the accommodation and also a number of the tenants have been in situ since 2015 / 16 without rent increases.
We understand that upgraded accommodation would command a rental income in the region of £650 per room pcm
Potential HMO Income £46,800 pa
Potential TOTAL income including flat - £59,400 pa

BREAK UP & SELL FLAT

EXISTING INCOME

FLAT

£1050 pcm

HMO

Room 1 - £425 pcm ( Commenced June 2017 - Vacating 23rd May )
Room 2 - £465 pcm ( October 2016 - due to vacate 1st June )
Room 3 - £415 pcm ( January 2015 )
Room 4 - £405 pcm ( February 2017 )
Room 5 - £420 pcm ( February 2017 ) - due to vacate 20th May
Room 6 - £390 pcm ( November 2017 - due to vacate date TBC )

TOTAL

£42,840

FIXTURES AND FITTINGS

All chattels included – please refer to F & F form within online legal pack.

5 MINUTE WALK TO WAPPING WHARF

Wapping Wharf is a new quarter in the historical and cultural heart of Bristol where people can live, shop, eat and relax by the city’s glistening waterfront.

This new community-focused neighbourhood on Bristol’s historic harbourside will feature over 600 new homes, reflecting the urban dockside character of the area, along with a range of retail and office space.

An exciting new addition to Bristol’s thriving food, drink and shopping scene, Wapping Wharf is home to some of the city’s best independent restaurants, shops and cafes. It is also the location of CARGO, Bristol’s first retail yard made of converted shipping containers.

Wapping Wharf provides an important new connection between south Bristol and the city centre following the opening of Gaol Ferry Steps, which runs through the heart of the new neighbourhood. People can now easily walk down this pedestrianised, tree-lined route, which links Gaol Ferry Bridge to the waterfront and a new public landscaped square.

Based on land that was previously derelict, this phased project will eventually retain and restore several key listed buildings and the Old City Gaol gatehouse to enhance the City Docks conservation area. One of the most significant new schemes in the city, Wapping Wharf is one of the final pieces in the jigsaw that will complete the regeneration of Bristol’s iconic Floating Harbour.

EPC

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

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