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13, Greenway Road, Redland, BS6 6SG
Auction Guide Price +++ £700,000
LOT 3


Lot No 3

FOR SALE BY AUCTION

LOT NUMBER 3
Wednesday 25th September 2019
All Saints Church Pembroke Road, Clifton, Bristol BS8 2HY
Legal Pack Room and Registration will be open from 18:15
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 WEDNESDAY @ 12:00 PM

SATURDAY 14TH SEPTEMBER @ 12:45 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.
*** VIEWINGS SUBJECT TO CHANGE - PLEASE CHECK WEBSITE ON THE DAY TO CONFIRM ***

SOLICITORS

Gail Williams
Gregg Latchams Solicitors
t: (0)117 9069 400
e: gail.williams@gregglatchams.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 mid terraced period property ( 2131 Sq Ft ) with spacious accommodation arranged over 4 floors with an enclosed west facing rear garden.
The property has a small front garden with steps leading to the main house which retains many original period features including high ceilings and fireplaces.
Sold with vacant possession.

LOCATION

Redland is amongst the most sought after and coveted locations in the city and remains an incredibly popular family suburb.
The area offers a mix of suburban convenience, with open green spaces such as Durdham Downs within only 300m. There are excellent amenities on the nearby North View and both Whiteladies Road and Park Street provide a wide range of supermarkets, shops, restaurants and pubs.
A choice of primary and secondary schools are nearby and, in addition, there is excellent access to the City, as well as to Cribbs Causeway and the motorway network.

THE OPPORTUNITY

FAMILY HOME FOR UPDATING - HUGE POTENTIAL

The property has been let for many years and now requires basic updating and rearrangement for modern family living.
There is scope for a single story extension to the rear to provide the classic open plan kitchen / living space opening onto the garden with 4 + bedrooms on the upper floors.
Sold with vacant possession.
We understand the value of the renovated and extended property is in excess of £1m.

STUDENT HMO INVESTMENT
The property is sold with the benefit of an existing HMO license for 8 students rooms.
Refer to independent rental appraisal.

OFF STREET PARKING
There is scope to create off street parking at the front of the property.
Subject to consents

SELF CONTAINED GARDEN FLAT
Potential to convert the lower ground floor to a self contained flat.
Subject to consents.

RENTAL APPRAISAL

Large quality 8 bedroom student HMO properties coming onto the market such as this are rare and this is a great opportunity to snap one up in a very favourable location. The student letting market is strong, rents are increasing at a good rate year on year and the demand for good quality properties is still outstripping supply in the key areas.

This property is currently unoccupied but the rental value for this student letting period (July 2019-June 2020) is estimated in the region of £500+pppcm/££48k+ pa. If it was in very good condition (refurbed, new furniture fixtures and fittings) current rent (19/20) could be £575pppcm - £55k pa

Going forward for the 20/21 tenancy the rent would most likely increase dramatically, due to demand and the recent tenants fee ban, in the region of:

Average condition - 20/21 - £550+pppcm - £53k+ pa

Good condition (refurbed, new furniture fixtures and fittings) – 20/21 - £605pppcm - £58k pa.

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 only be 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.

You will need to register to bid – registration will be open from 18:15
Forms can be downloaded and completed beforehand ( found in the legal pack ) or collected at the auction venue.

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?

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 2018 we have held 51 auctions, offering 1321 lots and raising over £270k for clients across the region.
Did you know… In 2018 we had the highest % success rate and sold more £££’s of Land and Property by auction than all the other Auctioneers in Bristol & North Somerset combined!

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 Zoo’s Bear Wood Appeal as our 2019 charity of the year with 5% of each buyers premium being donated.
Bear Wood is an exciting new development due to open in Summer 2019 at Wild Place Project. The exhibit will transport visitors back in time when the woodland was inhabited by European brown bears, Eurasian lynx, European wolves and wolverine, showing the effects of woodland loss on our native animals.
In 2018 we were delighted to be involved in raising £10,000 over 3 events for the “Off The Record” Bristol based mental health charity - www.otrbristol.org.uk
Visit the Charity page of our Website for further details - https://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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