Regent Street, Kingswood, Bristol BS15 8JS

Guide Price £150,000 - 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 £192,000. A three storey freehold property comprising a well presented shop of approximately 1,000 sq ft let to CJ Hole estate agents at £15,000 per annum (due to increase to £16,000 per annum from September 2022). The shop benefits from air conditioning, rear access and enjoys a prominent corner position on the Kingswood High Street. The maisonette above has been sold off on a 125 year lease and is subject to a ground rent of £125pa. 6 WEEK COMPLETION DATE

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 £192,000

SUMMARY -

SOLD FOR £192,000

DESCRIPTION -

A three storey corner property comprising a well-presented shop/office unit of approximately 1,000 sq ft, let to CJ Hole estate agents at £15,000pa on a 10 year term. The shop benefits from a suspended office ceiling, air conditioning, partitioned office to the rear, wc, kitchen and pedestrian rear access. The maisonette above has been sold off on a 125 year lease and is subject to a ground rent of £125pa.

6 WEEK COMPLETION DATE AVAILABLE

LOCATION -

The property is situated on Regent Street in Kingswood on the corner of South Road. Neighbouring occupiers include Domino's, Papa John's and various local independent retailers.

ACCOMMODATION -

Please refer to floor plan for approximate room measurements and indicative internal layout.

TENURE -

Offered for sale on a freehold basis.
The maisonette above has been sold off on a 125 year lease from 15th November 2019 and is subject to a £125pa ground rent which increases by £125 every 25 years.

LEASE DETAILS -

The shop is let to CJ East Bristol LTD (trading as CJ Hole) for a term of 10 years from 29th September 2019 at a current passing rent of £15,000pa which is due to increase to £16,000pa in September 2022 until the rent review in September 2024. The lease is a renewal of a previous 10 year internal repairing and insuring term.

ENERGY PERFORMANCE CERTIFICATE -

Rating: D

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.