Silver Street, Midsomer Norton, Midsomer Norton

Guide Price £100,000 - For Sale

  • For Sale By Public Auction
  • Thursday 17th June 2021
  • 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

SOLD FOR £180,000. A freehold development site with full planning consent granted for the erection of a modern three storey block of 4 x 2-bedroom flats with parking and gardens. The site was previously used as a car park and is to be sold with vacant possession. Situated in a highly convenient and central location in Midsomer Norton, easy access is provided to a wide range of amenities in the town centre. An ideal opportunity for builders and developers. EXTENDED 6 WEEK COMPLETION AVAILABLE

FOR SALE BY AUCTION -

This property is due to feature in our online auction on 17th June 2021 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.

VIEWING -

SOLD FOR £180,000

SUMMARY -

SOLD FOR £180,000

DESCRIPTION -

A parcel of land measuring approximately 0.14 acres, situated in a central location in the market town of Midsomer Norton. Full planning consent has been granted for the erection of a modern three storey building comprising four spacious 2-bedroom flats. Three of the four flats will benefit from private gardens and all of the flats will have an allocated parking space. A superb opportunity for builders and developers to create in exclusive development in this convenient location.

LOCATION -

The site is situated adjacent to No. 2 Silver Street in a highly convenient location, close to all of the local amenities in the town centre. Midsomer Norton is a market town near the Mendip Hills in Bath and North East Somerset, which is 10 miles south-west of Bath, 10 miles north-east of Wells and 16 miles south-east of Bristol.

PLANNING -

Full planning consent was granted on 13 May 2021 for the erection of a 2 storey apartment building with 4 self-contained flats with associated parking and landscaping under Application No. 20/04060/FUL.

LOCAL AUTHORITY -

Bath & North East Somerset Council.

PROPOSED SCHEDULE OF ACCOMMODATION -

FLAT 1 (82 SQ M) - 2 bed apartment with gardens & parking.
FLAT 2 (61 SQ M) - 2 bed duplex apartment with gardens & parking.
FLAT 3 (72 SQ M) - 2 bed apartment with gardens & parking.
FLAT 4 (55 SQ M) - 2 bed apartment with parking.

GROSS DEVELOPMENT VALUE (GDV) -

We would anticipate the following resale values for the completed flats:
FLAT 1 - £180,000
FLAT 2 - £170,000
FLAT 3 - £180,000
FLAT 4 - £165,000
GDV: £695,000

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.