This property is due to feature in our online auction on 4th May 2021 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
FORMER TELEPHONE EXCHANGE WITH PLANNING GRANTED FOR RESIDENTIAL CONVERSION
A parcel of land measuring approximately 0.14 acres, occupied by a detached stone built former telephone exchange with a pitched tiled roof and an additional outbuilding. Full planning consent has been granted for the conversion/extension of the building into residential accommodation (3 student let units). The finished development will offer excellent rental potential and is ideally located for student rental given the proximity to the local Bath Spa University campus.
6 WEEK COMPLETION AVAILABLE
The property is situated on Pennyquick, adjacent to The Globe public house. Excellent transport links are provided to the centre of Bath via the A4 Bristol Road and the Newton Park university campus is less than a mile away.
Full planning consent was granted for the conversion of the disused telephone exchange to form 3 units of student accommodation in 2011 under application no. 10/01650/FUL. The plans were varied in 2015 under application number 14/05438/VAR. We understand from the vendor that works have commenced including the demolition of the rear extension and that the application is considered to be 'live' by the Local Authority.
Bath & North East Somerset Council.
We would anticipate a market rent in the region of £675 pcm per unit (£24,300 per annum).
The property is for sale on a freehold basis.
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.