Overnhill Road, Downend, Bristol

£1,000,000 - For Sale

  • Substantial pair of Victorian houses
  • 21-bedroom HMO
  • Current rental income of circa £103,728pa
  • Potential to increase rent to circa £130,000pa fol

Telephone: 0117 973 4940

Email: admin@maggsandallen.co.uk

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The above is offered for indicative purposes only and should not be relied upon. Rates will vary lender to lender and subject to the customer’s specific circumstances. Fee’s may also apply.

Property Details

A rare opportunity to purchase an attractive and substantial pair of semi-detached houses, currently arranged as a 21-bedroom House in Multiple Occupation (HMO) occupying a generous plot of approximately 0.3 acres. The property benefits from extensive gardens to the rear, laid mostly to hardstanding providing off-street parking for several vehicles.

DESCRIPTION -

A rare opportunity to purchase an attractive and substantial pair of semi-detached houses, currently arranged as a 21-bedroom House in Multiple Occupation (HMO) occupying a generous plot of approximately 0.3 acres. The property benefits from extensive gardens to the rear, laid mostly to hardstanding providing off-street parking for several vehicles.

The property is currently let producing an annual income of circa £103,728 and is in need of refurbishment. Following the refurbishment works we would anticipate an increased market rent of circa £130,000 per annum (based upon 18 bedrooms).

Full planning consent has also been granted for the conversion of the property into 8 self-contained apartments and the conversion of the rear garage into an additional 1-bedroom bungalow under application no. PK15/2216/F. Works to carry out the conversion of the rear garage have commenced which, when completed, could provide an additional residential dwelling to the existing HMO, subject to consents.

LOCATION -

The property is situated in a sought-after residential location on Overnhill Road in Downend, an attractive street comprising primarily of impressive Victorian houses. Easy access is provided to a wide range of local amenities in Downend and Staple Hill. Excellent transport links are provided to Bristol city centre, which is located approximately 5 miles to the southwest. Vehicular access is provided to the rear of the property via a lane off Wrenbert Road.

ACCOMMODATION -

Please refer to floorplan for approximate room measurements and internal layout.

34 OVERNHILL ROAD -

Ground Floor: 3 bedrooms, lounge, kitchen and bathroom.
First Floor: 4 bedrooms and bathroom.
Second Floor: 2 bedrooms, kitchen and bathroom.

36 Overnhill Road -

Ground Floor: 4 bedrooms, lounge, kitchen and bathroom.
First Floor: 4 bedrooms and 2 bathrooms.
Second Floor: 3 bedrooms and bathroom.

PLANNING HISTORY -

PK15/2216/F - Change of use from existing hostel (sui generis) and a detached garage to Dwelling Houses (Class C3) as defined in the Town and Country Planning (Use Classes) Order 1987 (as amended) to facilitate the formation of 9no. Residential units, 2no. Single storey rear extensions and replacement dormer window; car parking (including demolition of part of front boundary wall to create 2no. Parking spaces), cycle parking and refuse/recycling storage areas. GRANTED ON APPEAL IN JULY 2016.

PK12/3456/F - Demolition of existing rear extension and erection of single storey rear extension and extension to rear dormer to facilitate change of use from Hostel (sui generis) to 2no. Dwellings with access and associated works (Class C3) as defined in Town and Country Planning (Use Classes) Order 1987. GRANTED IN DECEMBER 2012.

PK10/2293/F - Change of use of nursing home (Class C2) to residential hostel (sui generis) as defined in the Town and Country Planning (Use Classes) Order 1987 (as amended). GRANTED IN NOVEMBER 2010.

LOCAL AUTHORITY -

South Gloucestershire Council.

TENURE & METHOD OF SALE -

The property is to be sold on a freehold basis, either subject to the existing tenancies or vacant possession can be provided if required. The property is for sale by informal tender with a date for written offers to be received to be confirmed. Offers in excess of £1,000,000 are sought on an unconditional basis.

ENERGY PERFORMANCE CERTIFICATE -

34-36 Overnhill Road: Energy Rating - E.

LEGAL COSTS -

Each party is responsible for their own legal costs incurred in respect of this transaction.

VAT -

All prices quoted are exclusive of VAT.

VIEWING -

Strictly by appointment with Maggs & Allen.

CONTACT -

Tel: 0117 973 4940
Email: ransell@maggsandallen.co.uk

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Maggs & Allen use all reasonable endeavours 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.