Gibson Road, Cotham, Bristol

Guide Price £250,000 - For Sale

  • For Sale By Public Auction
  • Tuesday 3rd November 2020
  • Remote Online, Proxy & Telephone Auction
  • Legal Packs via our website

REMOTE BIDDING FORM

Telephone: 0117 973 4940

Email: admin@maggsandallen.co.uk

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Property Details

POTENTIAL DEVELOPMENT OPPORTUNITY - 6 GARAGES IN PRIME POSITION IN COTHAM A fantastic potential development opportunity comprising 6 large lock-up garages, situated in a superb location in Cotham. Many of the neighbouring garages have been redeveloped to provide a range of modern dwellings and this garage site offers significant scope for the erection of two new dwellings, subject to obtaining the necessary consents. The existing garages are offered for sale with vacant possession.

FOR SALE BY AUCTION -

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.

VIEWING -

By appointment

SUMMARY -

PRIME DEVELOPMENT OPPORTUNITY - 6 LARGE GARAGES IN COTHAM

DESCRIPTION -

A superb development opportunity comprising a rank of 6 dilapidated garages on Gibson Road in Cotham. The immediate area has undergone significant redevelopment with many of the neighbouring garages having been demolished and replaced with a range of modern houses, including the properties at either end of this rank. The garages sit on a plot of approximately 102 sq m (1,100 sq ft) and offer potential for demolition and the erection of a pair of two storey dwellings, subject to consents.

LOCATION -

The garages are situated in a highly sought after location on Gibson Road off Cotham Brow in Cotham. Easy access is provided to a wide range of amenities on Gloucester Road, Cotham, Clifton, Redland and the city centre.

DEVELOPMENT POTENTIAL -

The site offers potential for various redevelopment schemes and given the existing footprint of circa 1,100 sq ft, a pair of two storey, 3-bedroom houses may be suitable, subject to obtaining the necessary consents. Interested parties should make their own enquiries with the local planning department.

POTENTIAL GROSS DEVELOPMENT VALUE (GDV) -

If planning consent can be obtained for a scheme of 2 x 3-bedroom houses, we would anticipate a GDV in the region of £850,000 (£425,000 per house).

LOCAL AUTHORITY -

Bristol City Council.

TENURE -

The garages are offered for sale on a freehold basis.

SOLICITOR -

Samantha Grimwood, Clarke Willmott
Telephone: 0345 209 1312
Email: samantha.grimwood@clarkewillmott.com

BUYER'S PREMIUM -

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 PRICE -

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.

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.

PROXY, TELEPHONE & ONLINE REMOTE BIDDING -

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.

PRELIMINARY DEPOSITS -

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.

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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.