Bath Road, Arnos Vale, Bristol BS4 3EU

Guide Price £175,000 - For Sale

  • For Sale By Public Auction
  • Tuesday 8th February 2022
  • Remote Online, Proxy & Telephone Auction
  • Legal Packs via our website

A freehold mixed-use investment/development opportunity comprising a ground floor retail unit with a well-presented 2-bedroom flat above. The vacant shop unit benefits from planning consent for conversion into a 2-bedroom flat and the first floor flat is currently let producing £8,400 per annum. A superb investment situated in a highly convenient location within close proximity to the city centre and Bristol Temple Meads train station. ***6 WEEK COMPLETION AVAILABLE***

FOR SALE BY AUCTION -

This property is due to feature in our online auction on 8th February 2022 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.

VIEWING -

By appointment

SUMMARY -

8 FEBRUARY AUCTION - SHOP & 2-BEDROOM FLAT WITH RESIDENTIAL CONSENT FOR GROUND FLOOR

DESCRIPTION -

A two storey freehold investment comprising a vacant ground floor retail unit with a tenanted, self-contained 2-bedroom flat above. Planning consent has been granted for the conversion of the ground floor shop into a 2-bedroom flat under a wider planning consent relating to this property and the adjoining three properties. A superb opportunity for builders, developers and investors.

LOCATION -

The property is situated in a prominent position on the A4 Bath Road opposite Arnos Vale Cemetery and just 300m from Paintworks Creative Hub. Excellent transport links are provided to Bristol City Centre and Bristol Temple Meads train station whilst a wide range of local amenities are available on the nearby Sandy Park Road.

ACCOMMODATION -

Ground Floor Retail Unit -

A ground floor commercial premises with full width windows to the front and pedestrian rear access.

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First Floor Flat -

A well-presented flat comprising of a modern kitchen, separate living room, two bedrooms and a bathroom. Access to the flat is from the rear via a pedestrian lane on Chatsworth Road.

PLANNING -

Full planning consent was granted under Application No. 20/02203/F for the conversion of the ground floor showroom/workshop (379-385 Bath Road) into 6 x 2-bedroom residential apartments on 2 November 2020. This application relates to the subject property, the three adjoining properties and the workshop to the rear.

GROSS DEVELOPMENT VALUE (GDV) -

If the ground floor retail unit was converted into a 2-bedroom flat we would anticipate a GDV in the region of £350,000 - £360,000 (£175,000 - £180,000 per flat).

TENANCY/RENTAL DETAILS -

SHOP - Vacant, market rent of circa £8,000 - £10,000 per annum.
FLAT - Let on an AST producing £700 pcm (£8,400 per annum).

ENERGY PERFORMANCE CERTIFICATE -

Rating: TBC

BUYER'S PREMIUM -

Please be advised that all purchasers are subject to a £1,200 plus VAT (£1,440 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 (£1,440 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.

Floorplan for Bath Road, Arnos Vale, Bristol