This property is due to feature in our online auction on 3rd November 2020 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
SUBSTANTIAL FREEHOLD INVESTMENT - SHOP & 4-BEDROOM MAISONETTE
A freehold mid-terraced investment property arranged over three storeys to provide a ground floor shop (approx. 660 sq ft) with a large non self-contained 4-bedroom maisonette on the upper floors. The property is to be sold with vacant possession, offers excellent rental potential and scope to separate the maisonette from the ground floor shop or create additional flats, subject to consents. A rare opportunity to purchase a freehold mixed-use property in this location.
The property is situated in a prime position on North Street in Southville in an eclectic parade of shops, bars and cafes. Neighbouring occupiers include The Lounge Cafe/Bar, The Burger Joint and Coffee Number One.
On the basis that works are carried out to separate the shop from the maisonette above and an HMO licence can be obtained for the maisonette, we would anticipate the following market rents:
Shop: £16,000 - £18,000 Per Annum
Maisonette: £24,000 Per Annum (£500 pcm per room)
TOTAL: £40,000 - £42,000 Per Annum
The ground floor is arranged as a shop with rear sales area, office, kitchen/utility room and a further store room.
The first floor provides a large lounge, bedroom, kitchen and bathroom, and the second floor provides 3 further bedrooms.
The property benefits from a small courtyard to the rear with additional stores, WC and pedestrian rear access.
The Rateable Value with effect from April 2017 is £7,300.
Daniel Lander, Barcan + Kirby
Telephone: 0117 992 8841
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.
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which 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 a cheque/bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,200 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.
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.