Butstone House, 6 West Street - 1 Church Street, Banwell, BS29 6DA
Auction Guide Price +++ £250,000
Lot No 23


FOR SALE BY AUCTION

LOT NUMBER 23
Wednesday 26th September 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

EVERY MONDAY @ 15:45 PM

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

Dee Buttle
Solicitor
Holley & Steer
Tregunter, 1 Berrow Road, Burnham-on-Sea, TA8 2ET
DX47551 Burnham on Sea
Charles – Direct Dial 01278 765136
Dee – Direct Dial 01278 765134
Switchboard 01278 788991
Fax 01278 792159

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

Butstone House ( 6 West Street BS29 6DA & 1 Church Street BS29 6EA ) is a commanding Freehold property ( 4479 Sq Ft ) occupying a prominent corner plot within the village and comprises 5 self contained residential units and a commercial shop.

LOCATION

The North Somerset village of Banwell is within easy driving distance of Bristol, Weston-super-Mare, Bath, Wells and the national motorway network, making it an ideal choice for the commuter. The village itself has local facilities including shops, pubs, restaurants, churches, primary school and pre-school, with more comprehensive shopping, social and recreational facilities at the above mentioned cities and the coastal town of Weston-super-Mare. Secondary schooling is at nearby Churchill with its associated sports complex and nearby dry-ski slope. The Mendip Hills are close by with an excellent range of country pursuits readily available, including riding, walking and caving, whilst the Chew and Yeo Valley’s with the Chew and Blagdon lakes offering excellent sailing and fishing. The long distance traveller has plenty of choice - there are excellent motorway and rail links, whilst Bristol International Airport is just a short drive away. For further information see the Banwell website - www.banwell.info.

THE OPPORTUNITY

INVESTMENT

The property is sold with vacant possession but was recently fully let producing £34,200 pa

Unit 1 - £600 pcm
Unit 2 - £400 pcm
Unit 3 - £600 pcm
Unit 4 - £600 pcm
Unit 5 - £400 pcm
Unit 6 – £250 pcm
Total - £2850 pcm / £34,200

The properties would now benefit from some basic updating and there is scope to increase the rents once completed.
We are informed the property has had a new roof in the last 3 years.
We are informed the majority of the units have had new heating systems over the last 4 years.

UNIT 6 – RETAIL UNIT

Planning has been granted to convert the existing retail unit into a self contained one bedroom flat.
Refer to online legal pack for planning info.

COMBINE UNITS 4 AND 5 TO CREATE HOUSE

There is scope ( subject to consents ) to combine units 4 and 5 back into the original 3 / 4 bedroom house with enclosed rear garden.
This would require installation of a staircase on the ground floor and blocking off another entrance but would create a charming property.

IMPORTANT NOTICE

Buyers must be aware that units 3 and 4 are currently subject to North Somerset Council Improvement orders and will require works before they can be occupied - a lot of these works have been completed – please refer to legal pack for further information.

EXTERIOR SIGN

We understand is in the process of being prepared under an insurance claim.

ACCOMMODATION

Unit 1
Flat 1 6 West Street, Banwell, BS29 6DA
First Floor 2 Bedroom self contained Flat

Unit 2
Flat 2 6 West Street, Banwell, BS29 6DA
Ground Floor self-contained studio flat.

Unit 3
Flat 1, 1 Church Street, Banwell, BS29 6EA
First and Second floor self-contained two bedroom Maisonette.

Unit 4
Flat 2, 1 Church Street, Banwell, BS29 6EA
First and Second floor self-contained two bedroom Maisonette.

Unit 5
1a Church Street, Banwell, BS29 6EA
Ground floor one bedroom flat with private entrance and garden.

Unit 6
6 West Street, Banwell, BS29 6DA
Ground floor corner Retail unit.

PLANNING GRANTED - RETAIL UNIT

Reference: 18/P/2250/FUL
Application Received: Wed 31 Jan 2018
Application Validated: Thu 05 Apr 2018
Address: Ground Floor 8 West Street Banwell BS29 6DA
Proposal: Change of use of ground floor (former hair salon) to self contained one bedroom flat
Status: Decided
Decision: Approved
Decision Issued Date: Wed 30 May 2018
Appeal Status: Unknown
Appeal Decision: Not Available

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 £1000 + VAT (£1,200 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.

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.

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 £1,200) 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.

WHY HOLLIS MORGAN?

Hollis Morgan regularly hold the largest property auctions across Bristol and the West Country from our iconic Sale Room in Clifton, since we formed in 2010 we have sold the most £££'s of land and property by Public Auction in the region - EVERY YEAR!
Between 2010 and 2017 we have held 45 auctions, offering 1135 lots and raising over £225m for clients across the region
Did you know….Hollis Morgan sold more £££’s of land and property by auction than all the other Bristol Auctioneers combined in 2017 with over £49m of successful sales!

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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