The Arcade, 67 - 69, High Street, Nailsea,
Sold @ Auction £375,000
LOT NUMBER 30
The Arcade, First Floor, 67 - 69 High Street, Nailsea, BS48 1AW
FOR SALE BY LIVE ONLINE AUCTION
*** SALE AGREED PRIOR TO AUCTION ***
Lot Number 30
The Live Online Auction is on Wednesday 15th September @ 18:00
Registration Deadline is on Monday 13th September @ 16:00
The Auction will be streamed LIVE ONLINE via the Hollis Morgan website & you can chose to bid by telephone, proxy or via your computer.
Registration is a simple online process – please visit the Hollis Morgan auction website and click “REGISTER TO BID”
Viewings can be booked on specific days for this property – please submit a viewing request online and we will contact you to arrange access.
Hollis Morgan would be grateful if you could arrive promptly to inspect the properties at the START of the agreed time as we have scheduled viewings throughout the day and CANNOT wait for late arrivals.
There are likely to be viewings on the property before and after your appointment and if you miss your slot ( usually 15 minutes or longer for larger properties ) you will be asked to wait until the next available time.
Please note government regulation on groups sizes and safe social distancing must be practiced at all times – please bring your own gloves and facemask.
You may be asked to wait outside before it is safe to enter – please understand and respect this request.
If you have shown any symptoms of Covid (19 ) in the last 10 days we would respectfully ask you to not attend the viewing.
The safety of our clients and staff is our number one priority and we thank you for your understanding.
Please note that hard copy of details will not be provided but will have been emailed to you with instructions on how to bid and what happens next before the viewing.
COMPLETION – BEAT THE STAMP DUTY DEADLINE
Completion is set for 8 weeks or earlier subject to mutual consent.
Pay ZERO STAMP DUTY on the first £250,000 of your purchase if you complete by September 30th
Please note 3% SDLT is still payable when purchasing additional properties
Use this SDLT calculator to work out how much SDLT you'll pay - www.tax.service.gov.uk/calculate-stamp-duty-land-tax/
55 Colmore Row,
Birmingham, B3 2FG
FAO: Stephen Brown
Tel: 0121 200 1050/ 0121 625 3079
ONLINE LEGAL PACKS
** LEGAL PACK COMPLETE **
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 Freehold upper floors of this purpose built mixed use 1980's property in the town centre of Nailsea comprising circa 4,000 Sq Ft of open plan space that has been stripped out in anticipation of development.
The property is accessed via two ground floor units on the rear of the block - refer to plans.
Sold with vacant possession.
Nailsea is a suburban town of North Somerset, approximately 8 miles (13 km) southwest of Bristol. The surrounding North Somerset Levels has wildlife habitats and Bucklands Pool/Backwell Lake is a Local Nature Reserve. The well populated town centre includes two major supermarkets, high street banks, coffee shops, pubs and a leisure centre. Nailsea is close to the M5 motorway (junction 20) and Bristol International Airport at Lulsgate is 7 miles (11 km) away by road. The airport serves both domestic and international routes, and is one of EasyJet's hub airports. Secondary education is provided by Nailsea School (rebuilt as an Academy in 2009), and primary education by St Francis School, Grove School, Kingshill School and Golden Valley. Churches include the 14th-century Holy Trinity Church and Christ Church, which was built in 1843.
DEVELOPMENT OPPORTUNITY - 9 FLATS ( GDV £1.4M )
Planning was granted in 2017 ( now lapsed ) to add a second floor to the building transforming its appearance to create a contemporary development of 9 self contained flats in the heart of the Town Centre.
Hollis Morgan New Homes have appraised the site and proposed resale values of circa £150,000 for the 1 bedroom units and £175,00 for the 2 Bedroom units.
To discuss the resale values ( or any other development ) please contact Calum Melhuish @ Hollis Morgan New Homes.
PROPOSED DEVELOPMENT SCHEDULE
Bin / Bike Store
FIRST FLOOR & SECOND FLOORS
UNIT 1 - 1,041 Sq Ft
Two bedroom maisonette
UNIT 2 - 614 Sq Ft
1 Bedroom flat
UNIT 3 - 570 Sq Ft
1 Bedroom Flat
UNIT 4 - 603 Sq Ft
1 Bedroom Flat
UNIT 5 - 892 Sq Ft
2 Bedroom Maisonette
UNIT 6 - 876 Sq Ft
2 Bedroom Maisonette
UNIT 7 - 614 Sq Ft
1 Bedroom Flat
UNIT 8 - 614 Sq Ft
1 Bedroom Flat
UNIT 9 - 580 Sq Ft
1 Bedroom Flat
TOTAL - 6 x 1 Beds / 3 x 2 Beds
LAPSED PLANNING ( GRANTED 2017 )
Application ReceivedThu 16 Mar 2017
Application ValidatedTue 28 Mar 2017
Address67 - 69 High Street Nailsea BS48 1AW
ProposalChange of use from night club (sui generis) and veterinary practice (D1) to 9no. self-contained Flats (C3). A1/A2 retail unit on the ground floor. Raise roof height to create a second floor level with a mansard roof and dormer windows on the rear and front elevation
DecisionApprove with Conditions
Decision Issued DateTue 23 May 2017
Appeal DecisionNot Available
REFUSED PLANNING ( 2020 )
In 2020 a 3rd party submitted an inferior scheme with a view to reducing the build cost by by not creating the second floor. This reduced the development to 7 smaller units but crucially it dramatically changed the overall external appearance of the original scheme and was therefore refused.
Application ReceivedWed 11 Nov 2020
Application ValidatedWed 18 Nov 2020
AddressArcadia 67-69 High Street Nailsea Bristol BS48 1AW
ProposalNon material amendment to application 17/P/0899/F ( Change of use from night club (sui generis) and veterinary practice (D1) to 9no. self-contained Flats (C3). A1/A2 retail unit on the ground floor. Raise roof height to create a second floor level with a mansard roof and dormer windows on the rear and front elevation ) to allow the alteration from 9 flats to 7 without the additional storey being added.
Decision Issued DateWed 16 Dec 2020
Please note VAT is payable on this property.
Full details of the proposed scheme and drawings can be downloaded with the online legal pack.
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 a rent in the region of;
1 bedroom units 2 – 4 and 7 – 9 - £700pcm - £750pcm
2 bedroom units 1, 5 and 6 - £850pcm - £900pcm
If you would like to discuss more detail on the potential for rental, you can call me (0117 370 8818) or email (firstname.lastname@example.org) 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.
For full details of the EPC please refer to the online legal pack.
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.
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.
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 vendors are willing to consider offers prior to the auction.
Pre auction offers can ONLY be submitted by completing the online PRE AUCTION OFFER FORM
The form can be found on the Hollis Morgan website on the individual auction property listings – look for the big red button .
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 our clients solicitor informs us no further information is due to be added.
In the event of an offer being accepted the property will only be removed from 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 can be exchanged via the solicitors or at the Hollis Morgan offices by appointment only.
The registration process is extremely simple – visit the Hollis Morgan auction website and click on the “Register to Bid” button.
The “Register to Bid” button can be found on the auction home page or on the individual lot listings.
Please note this function is not available on Rightmove or Zoopla.
Stage 1 – Complete the Online Bidding Form
Stage 2 – Upload your certified ID
Stage 3 – Invitation to bid
Stage 4 – Pay your security deposit ( £6,200 )
You are now ready to bid – Good luck!
If your bid is successful, the balance of the deposit monies must be transferred to our client account within 24 hours of the auction sale.
If you are unsuccessful at the auction your holding deposit will be returned within 48 hours.
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.
Some properties may require specialist auction finance- please contact Hollis Morgan for access to expert advice and "whole of market" rates.
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.
2021 CHARITY OF THE YEAR
Hollis Morgan are supporting Bristol Charity 1625 Independent People as our 2021 Charity of the year with a % of each Buyers premium being donated.
1625 Independent People (1625ip) is a charity that works with young people who are homeless, leaving care or at risk of homelessness in Bristol and the South West.
Visit the Hollis Morgan Charity page of our Website for further details - www.hollismorgan.co.uk/charity
We are very proud of what our past clients have say about us - please visit the Hollis Morgan website to read their testimonials.
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.
*Source EIG – Sales in BS and GL postcodes by agents based in BS or GL postcodes.
Hollis Morgan was the most successful Auctioneer in Bristol & North Somerset during 2018 – 2019 with an 87 % success rate.
*Source EIG – Sales in BS postcodes 2018 & 2019 by agents based in BS
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.