Lot 38
Flat 1, 56 Northload Street, Glastonbury, BA6 9QE
Sold @ Auction £90,000
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SHORTLIST- FOR SALE BY LIVE ONLINE AUCTION
- WEDNESDAY 14TH FEBRUARY 2024
- LEGAL PACK COMPLETE
- VIDEO TOUR NOW ONLINE
- VIEWINGS - REFER TO DETAILS
- SOLD @ FEBRUARY AUCTION
- LEASEHOLD GROUND FLOOR FLAT
- VACANT | 2 BEDS | COMMUNAL PARKING
- RECENTLY RENOVATED | REDUCED PRICE
- EXTENDED 8 WEEK COMPLETION
FOR SALE BY LIVE ONLINE AUCTION
*** SOLD @ FEBRUARY AUCTION ***
GUIDE PRICE £90,000 +++
SOLD @ £90,000
ADDRESS | Flat 1, 56 Northload Street, Glastonbury, BA6 9QE
Lot Number 38
The Live Online Auction is on Wednesday 14th February 2024 @ 17:30
Registration Deadline is on Monday 12th February 2024 @ 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”
THE PROPERTY
A Leasehold ground floor two bedroom flat ( 711 Sq Ft ) set within this charming Grade II listed detached period property with communal parking to the rear.
Sold with vacant possession.
Leasehold - New 999 year lease
Management Fees - £214 pcm ( We understand this is being reduced by £75 pcm - refer to online legal pack )
Council Tax Band : Band B
EPC - E
Utilities, Rights & Restrictions - Please refer to the Legal Pack
Flood Risk - Please refer to the Legal Pack
The Freehold is owned by a Party Social Housing Association.
7 of the 8 units have now been sold to individual leaseholders
We understand the Freeholders will be open to selling the Freehold to the other leaseholders / management company upon the sale of the final unit within the block.
This will give the opportunity for the leaseholders to agree to a reduced monthly payment.
We are unable to provide any timescales.
THE OPPORTUNITY
RENOVATED FLAT
The property has been recently renovated and is an ideal starter home or investment in this sought after location.
REDUCED PRICE | AUCTION
The property was previously listed with local agents for £129,950 and is now offered with a reduced price for sale by auction.
RENTAL APPRAISAL
A local agent has advised the following:
The property is in need of refurbishment and our figures are based on the work being completed. With our knowledge of the local market, and considering the current market conditions we would estimate the property could achieve a rental figure in the region of: £775.00 PCM
LOCATION
The historic market town of Glastonbury boasts a variety of unique local shops in the High Street, with its very own 8th century Abbey and 14th century Tor. Glastonbury provides the usual small town facilities including a selection of schools, catering for infants through to secondary education, churches, supermarkets, a library, two doctors' surgeries and a local hospital. Street, just 2 miles away is a thriving mid Somerset town famous as the home of Millfield School, Clarks Shoes and more recently Clarks Village shopping centre complementing the High Street shopping facilities. The Cathedral City of Wells is 6 miles whilst the nearest M5 motorway interchange at Dunball (Junction 23) some 15 miles distance. Bristol, Bath, Taunton and Yeovil are all within commuting distance. At Castle Cary mainline trains run to London Paddington.
SOLICITORS
Sharon Lee
VWV
t: 0117 925 2020
slee@vwv.co.uk
https://www.vwv.co.uk/
EXTENDED COMPLETION
Completion is set for 8 weeks or earlier subject to mutual consent.
LEGAL PACK COMPLETE
We have been informed by our client’s solicitors that the legal pack for this lot is now complete.
Should any last minute addendums occur you will be automatically notified by email.
If the vendors have indicated they are willing to consider pre-auction offers, now is the time to submit your offer by completing the pre-auction offer form.
IMPORTANT AUCTION INFORMATION
IMPORTANT AUCTION INFORMATION
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 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 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 listing.
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 client’s 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.
REGISTRATION PROCESS
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 the hold placed on your card will be lifted.
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.
AUCTION FINANCE & BRIDGING LOANS
Some properties may require specialist auction finance- please contact Hollis Morgan for access to expert advice and whole of market rates from our independent brokers.
Hollis Morgan may receive introductory fees for this service from the broker.
2024 CHARITY OF THE YEAR
Hollis Morgan is supporting The Malcolm Gunter Foundation as our 2024 Charity of the year with a % of each Buyers premium being donated.
In 2018 Malcolm Gunter passed away from Motor Neurone Disease - In his memory, MGF has raised over £200,000 and provided support and grants for many local people living with and affected by MND.
100% of all monies raised will be utilised in supporting sufferers of MND with their physical and emotional needs, and research into the disease .
Visit the Hollis Morgan Charity Page of our website for further details
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.