Telephone: 0117 973 4940
This property is due to be auctioned on the 18th June 2019 at The Grace Room, The Bristol Pavilion, County Ground, Nevil Road, Bishopston, Bristol at 7pm.
BLOCK OF 4 FLATS - IDEAL BREAK-UP OPPORTUNITY OR RENTAL INVESTMENT
A mid-terraced period property that has been converted into 4 self-contained flats (3 x 1 bedroom flats and 1 x 2 bedroom flat). The property benefits from a communal courtyard garden to the rear and is offered for sale subject to an Assured Shorthold Tenancy agreement on Flat 4 with the remaining flats being sold with vacant possession. Once fully let we would anticipate a market rent in the region of £31,000 per annum or the flats could be sold off individually by creating separate leasehold titles.
The property is situated on Hanham Road in Kingswood and provides easy access to a wide range of local amenities on Kingswood High Street. Excellent transport links are provided to the City Centre and A4174 Ring Road.
Please refer to floorplan for approximate room measurements and internal layout.
A ground floor flat comprising a lounge/kitchen, bedroom and shower room. To be sold with vacant possession.
A ground floor flat comprising a lounge/kitchen, bedroom and shower room with double doors leading onto a private terrace. To be sold with vacant possession.
A first floor flat comprising a lounge/kitchen, bedroom and shower room. To be sold with vacant possession.
A first and second floor maisonette comprising a lounge/kitchen, bathroom and two bedrooms. To be sold subject to an Assured Shorthold Tenancy agreement at a current rent of £600 pcm.
We would anticipate the following resale and rental values for each flat following light refurbishment works:
Flat 1 - £120,000 (£625 per calendar month)
Flat 2 - £120,000 (£625 per calendar month)
Flat 3 - £120,000 (£625 per calendar month)
Flat 4 - £140,000 (£695 per calendar month)
If each flat is sold subject to an annual ground rent of £250, we would anticipate an additional freehold ground rent investment value of circa £20,000.
Flat 1: F
Flat 2: F
Flat 3: E
Flat 4: B
Mr S Parker
Barcan + Kirby
199a Whiteladies Road
Bristol BS8 2SB
Tel: 0117 905 9786
Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 inc VAT) buyer's premium payable upon exchange of contracts.
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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.
If you are unable to attend the auction then you can submit a proxy bid. This will authorise a representative of Maggs & Allen to bid on your behalf up to a pre-set amount. The proxy bidding form is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and 2 cheques (one for the 10% deposit and one for the buyer's premium of £1,200 inc VAT) is required by the auction department no later than 4pm on the day of the auction.
If you are intending to bid and are successful, the following will be required:
* 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.
* Buyer's premium payment.
* Details of your solicitor.
Forms of acceptable payment:
* Bankers Draft
* Debit Card Payment
For card payments:
Please ensure that you advise your bank of the potential payment prior to the auction.
Maggs & Allen use all reasonable endeavors to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
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.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.