Sold @ Auction £820,000
6, Hurle Road, Clifton, BS8 2SY
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SHORTLIST- FOR SALE BY PUBLIC AUCTION
- WEDNESDAY 23RD MAY
- ALL SAINTS CHURCH, CLIFTON, BS8 2HY
- WEEKLY SET VIEWINGS
- DOWNLOAD ONLINE LEGAL PACKS
- PRIME CLIFTON FREEHOLD
- ARRANGED AS 3 SELF CONTAINED FLATS
- PARKING AND GARDENS
- SCOPE TO INCREASE RENTS
- IDEAL RENOVATE / BREAK UP OPPORTUNITY
FOR SALE BY AUCTION
SOLD @ HOLLIS MORGAN MAY AUCTION
GUIDE £650,000 +++
SOLD @ £820,000
LOT NUMBER 28
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 prime Freehold property arranged over three floors plus basement with parking for 3 cars and an enclosed rear garden.
The property comprises 3 self contained flats and is sold subject to the existing tenancies.
6A HALL FLOOR - 1 BED
Private entrance, large kitchen, reception room, shower room & stairs up to bedroom 1.
6B GARDEN FLAT - 2 BED
Private entrance, large entrance hall / utility, kitchen, bedroom & stairs down to shower room and bedroom 2.
6C UPPER MAISONETTE - 2 BED
Private entrance accessed from external stairs to rear at first floor level into kitchen, large reception room, bathroom, bedroom 1 & stairs up to bedroom 2 and loft space.
LOCATION
Hurle Road is a quiet residential street located in a very thought after area just off Whiteladies Road and its local amenities and services including supermarkets, bars, pubs, cafes and restaurants are all within close proximity. Clifton Downs train station with its direct link to Temple Meads main station is only a short walk away and Bristol University and The Bristol Royal Infirmary are also within walking distance. The property is equally close to Durdham Downs with its acres of open land and woodland bounded on the south western side by the spectacular Avon Gorge with the historic Clifton Suspension Bridge providing a unique crossing to North Somerset.
THE OPPORTUNITY
INVESTMENT
The property is currently let on AST agreements generating £2,500 pcm / £30,000 per annum.
INCREASE INCOME
We understand there is scope to update the flats and significantly increase the rental income.
Please refer to rental appraisal.
FLAT 3
There is potential ( subject to consents ) to create an extra bedroom on the upper floors.
RENOVATE / BREAK UP
There is scope to renovate each flat with a view to selling them individually.
We would suggest the following values once renovated with one allocated parking space each
6A HALL FLOOR - £275,000 - £300,000
6B GARDEN FLAT - £325,000 -£350,000 ( sole use of garden )
6C UPPER MAISONETTE - £ 450,000 - £500,000
TOTAL - £1050,000 - £1,150,00
FAMILY HOME
There is scope to return the property to a family home in this highly sought after location.
EXISTING INCOME
6A HALL FLOOR - £800 pcm ( 12 Months from 29th June 2017 )
6B GARDEN FLAT - £700 pcm ( 12 Months from 11th August 2017 )
6C UPPER MAISONETTE - £1000 pcm ( 12 Months from 1st July 2013 ) - VACATING 31st MAY
RENTAL APPRAISAL
An interesting lot with huge potential to be reconfigured into much better letting properties. Even if you just reconfigured the current layouts you could get more beds into the flats to increase yield. The flat accessed by the main front door (currently one bed) could be a two bedroom flat. The top floor flat (with appropiate consents) be relatively easily a four bed property (currently one bed). The basement flat would remain as a one bed. Over all each room would let at £500 which would generate monthly income of £3,500.
If you were looking long term rental it would be worth configruing the property (with appropiate consents) into two separate maisonettes. The lower one would be a four bed property and the top flat would become a five bed. The conversion would be relatively easy and would generate an income of circa £4,500 pcm (£54,000 pa)
If you have any questions or queries regarding this valuation please contact us on 0117 911 3423, 07854 367 689 or info@clifton-rentals.co.uk