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55, Old Market Street, Old Market, BS2 0ER
Auction Guide Price +++ £190,000
LOT 5




LOT NUMBER 5

ADDRESS

55 Old Market Street, Old Market, BS2 0ER

FOR SALE BY ONLINE AUCTION

LOT NUMBER 5
This lot will be offered for sale by Online Auction on Wednesday 29th April.
The bidding window opens at midday on 28th April 2020
Bidding will close at 3pm on 29th April 2020
Please register for the online legal pack to be kept informed.
Refer to 3 easy steps below for details on bidding and registration.

Please note that due to this unprecedented situation many of our client will be actively seeking pre auction offers.
If you are interested in any of the April Lots please follow the instructions on pre auction offers ( specifically waiting for legal packs to be completed ) as outlined.

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 inspected the COMPLETE LEGAL PACK once it has been released.
There will be a note added to the list to confirm AUCTION PACK NOW COMPLETE when no further information is due to be added.
In the event of an offer being accepted the property will only be removed from the auction the online auction and viewings stopped once contracts have successfully EXCHANGED subject to the standard auction terms and payment of the buyer’s premium ( £1000 + VAT ) to Hollis Morgan.
Contracts will need to be exchanged promptly via the solicitors.

EXTENDED COMPLETION

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

VIEWINGS TEMPORARILY POSTPONED

Due to the ongoing COVID ( 19 ) situation viewings are now temporarily postponed until further notice.
Dependant on government advice we aim to organise viewings by appointment in due course.
Video tours are available on some properties.

*** TO ENSURE YOU REMAIN UPDATED PLEASE REGISTER FOR THE ONLINE LEGAL PACK ***


The vendors of this property will be entering the lot into the April 29th online auction.
However once the legal pack has been released online then there will be an opportunity to submit pre auction offers as outlined below.

SOLICITORS

Helen Brewer
AMD Solicitors
15 The Mall, Clifton
tel: 0117 974 4100
e: helenbrewer@amdsolicitors.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

A Freehold Grade II listed mid terrace period mixed use property ( 1271 Sq Ft ) arranged over 3 floors and previously used as offices and storage with retail on the ground floor.
Sold with vacant possession.

LOCATION

The property is located on Old Market Street within the popular suburb of Old Market. Local amenities and services are all within close proximity including independent retailers, bars, pubs and cafes.
Bristol Temple Meads railway station is within walking distance as well as the Cabot Circus retail complex.

THE OPPORTUNITY

DEVELOPMENT OPPORTUNITY

Planning has been granted to convert the upper floors into a stylish maisonette in this sought after location.

INVESTMENT

The existing retail unit would make an excellent investment.

PLANNING GRANTED

NOTICE OF DECISION
Town and Country Planning Act 1990 (as amended)
Planning (Listed Buildings and Conservation Areas) Act 1990
Decision : GRANTED subject to condition(s)
Application no: 19/03842/LA
Type of application: Listed Building Consent (Alter/Extend)
Site address: 55 Old Market Street, Bristol, BS2 0ER.
Description of development: Internal and external alterations, including creation of roof terrace, to facilitate the change of use to the upper floors from office to 1x C3 Residential dwelling with creation of separate ground floor flexible use unit (retail
(A1) / Office (B1(a)).
Applicant: Mr Stott
Agent: Howard Baker Architecture & Design
Committee/delegation date: 14.11.19
Date of Notice: 14.11.19

PLANNING INFORMATION

Full details of the proposed scheme and drawings can be downloaded with the online legal pack.

RENTAL APPRAISAL

What rent can we achieve for you?

The Bristol Residential Letting Co. are confident this property would make a good rental investment. Josh Box of The Bristol Residential Letting Co suggests rents in the region of;

2 bedroom maisonette - £1000pcm - £1100pcm

If you would like to discuss more detail on the potential for rental, you can call me (0117 370 8818) or email (josh@bristolreslet.com) for a no obligation discussion. Alternatively why not drop into my Office (222 North Street, Southville, BS3 1JD) where I am always happy to advise investors on maximising their investment.

COMMERCIAL MARKET APPRAISAL

Local Experts Burston Cook say:

55 Old Market Road – ground floor only – Between £5 - £7.5k per annum after separation works are carried out and it is provided in lettable condition.

For further information please contact Charlie Kershaw MRICS

charlie@burstoncook.co.uk

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.

ONLINE BIDDING GUIDE - THREE EASY STEPS

Step 1 – Register to Bid

Go to Hollis Morgan website and click on the lot page that you want to bid on
The online auction “widget” will automatically pop up to prompt you.
Log in ( or Register if your first time ) and follow the instructions.
You will be asked to upload your ID and verify your registration via SMS text.

Step 2 – Enter your payment details

On the 23rd April you will receive an email reminder to enter your payment details for the auction.
This is the earliest date that details can be provided.
You will not be approved for bidding unless payment details are provided.
Please note we require DEBIT CARD details.

Step 3 – Ready to Bid!

Once you have successfully completed the registration & payment process you will receive email confirmation you are authorised to bid.
You will be able to start placing your bids from midday on 28th April.
Bidding will close on 29th April at 3pm for lot 1 and at 5 minute intervals for the remaining lots.
Unlike eBay, bid sniping is impossible - All auctions will close as per their advertised ‘Auction End Date’, however if a bid is placed within the final 60 seconds of the auction’s scheduled end time the auction will be extended by an additional 60 seconds – known as the ‘bidding extension window’.
Download the Buyers Guide in the online legal pack for further information

Congratulations - you are the winner!

As the winning bidder you will receive email confirmation, payment of £6,200 will be taken and one of the Hollis Morgan Auction Team will contact you to talk you through the next steps.
2 important tasks to remember

•The deadline to transfer the remainder of the deposit is Friday 1st May

•You also need to nominate your solicitor to complete the transaction

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.

WHY HOLLIS MORGAN?

WHY HOLLIS MORGAN?
Hollis Morgan hold the largest land & property auctions in the region.
Hollis Morgan sold more £££’s of Land & Property in both 2018 & 2019 than any other auctioneer in the region.
In fact, no auctioneer has sold more than Hollis Morgan since 2010 with over £289m of sales - £95m more than anyone else.
Hollis Morgan was the most successful Auctioneer in Bristol & North Somerset during 2018 – 2019 with an 87 % success rate.
*Source EIG – Sales in BS and GL postcodes by agents based in BS or GL postcodes.
*Source EIG – Sales in BS postcodes 2018 & 2019 by agents based in BS

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 All Aboard Watersports as our 2020 Charity of the year with 5% of each Buyers premium being donated.
All Aboard Watersports strive to make it possible for everyone in the local community to join in a range of watersports and water related activities for people with physical, emotional or cognitive disabilities in the historic Bristol City Docks - www.allaboardwatersports.co.uk
In 2019 we were delighted to have raised well £10k for Bristol Zoo by supporting their Bear Wood Project at the Wild Place through events including the Hollis Morgan Opera Picnic and hosting their annual Gala Evening.
Visit the Hollis Morgan Charity page of our Website for further details - www.hollismorgan.co.uk/charity

AUCTION PROPERTY DETAILS DISCLAIMER

Hollis Morgan endeavour to make our sales details clear, accurate and reliable in line with the Consumer Protection from Unfair Trading Regulations 2008 but they should not be relied on as statements or representations of fact and they do not constitute any part of an offer or contract. All Hollis Morgan references to planning, tenants, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack. It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens. The seller does not make any representation or give any warranty in relation to the property and we have no authority to do so on behalf of the seller.

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