A recently redeveloped mixed-use investment property comprising 5 contemporary and very well presented flats and 2 lock up shops. The flats are configured as 3x two bedroom apartments & 2x one bedroom apartments, which are presented to a high specification and all let on conventional Assured Shorthold Tenancy Agreements. The shops are let to two separate tenants on effectively full repairing and insuring terms. The property is therefore fully let producing £66,060pa and is offered for sale as a going concern. ***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.
8 FEBRUARY AUCTION - FREEHOLD MIXED-USE INVESTMENT (2 X SHOPS & 5 X FLATS) - FULLY LET PRODUCING £66,060 PA
The property has recently been redeveloped and now provides two ground floor retail units, 3x two-bedroom flats and 2x one-bedroom flats. The flats are accessed from the rear and are presented to a high specification with contemporary and attractive kitchens and shower rooms. The property is now fully let and is offered for sale as a going concern although also offers a breakup opportunity.
The Retail Units Front Lodge Causeway in a prominent mixed parade in Fishponds. The flats benefit from separate access to the rear off Chester Park Road.
20/04176/COU Application to determine if prior approval is required for a proposed change of use of the rear part of the retail shop (Class A1) to one dwelling house (Class 3) - 1 Unit. 302 & 304 Lodge Causeway Bristol BS16 3RD
Granted 5th November 2020.
20/03134/F Rear extension including dormer and associated works. 302 & 304 Lodge Causeway Bristol BS16 3RD
Granted July 2020.
FLOOR PLANS -
The floor plans attached are a combination of the plans from the planning applications above. However, we understand there have since been some non-material amendments to the layout
SCHEDULE OF TENANCY AGREEMENTS -
Please refer to the full marketing particulars for the schedule of tenancy agreements.
ENERGY PERFORMANCE CERTIFICATE -
Please refer to the full marketing particulars for the various EPC ratings.
All figures quoted are exclusive of VAT unless otherwise stated.
Strictly by Appointment with Maggs and Allen.
CONTROL OF ASBESTOS REGULATIONS -
As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. Maggs & Allen has not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.
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.
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.