48, Cranbrook Road, Redland, Bristol, BS6 7BT

Auction Guide £925,000 - For Sale

11
  • For Sale By LIVE ONLINE AUCTION
  • Tuesday 13 September 2022
  • Remote Online, Proxy & Telephone Bidding
  • Legal Packs via our website

An attractive four storey Victorian property that is currently arranged as two substantial maisonettes (1 x 7-bedroom maisonette & 1 x 4-bedroom maisonette). The property has been tenanted in recent years and would now benefit from refurbishment. A superb investment opportunity with a potential rental income in excess of £85,000 per annum once renovated. Alternatively, the property could be converted back into a fine family house, subject to consents. To be sold with vacant possession upon completion.

FOR SALE BY AUCTION -

This property is due to feature in our online auction on 13 September 2022 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.

VIEWINGS -

Strictly by Appointment with Maggs and Allen.

SUMMARY -

SUBSTANTIAL SEMI-DETACHED PERIOD PROPERTY ARRANGED AS TWO LARGE MAISONETTES

DESCRIPTION -

A substantial and imposing semi-detached period property, situated in a highly sought after residential location in Redland. The property is currently arranged two large maisonettes (1 x 7-bedroom maisonette on lower ground and hall floors & 1 x 4-bedroom maisonette on the first and second floors). Both maisonettes have been let to students and professionals making the property a potentially high-yielding rental investment. Alternatively, the property offers excellent scope for conversion back to a sizeable family house, subject to consents.

LOCATION -

The property is situated on Cranbrook Road in Redland and provides easy access to a wide range of local amenities on Gloucester Road as well as Redland train station. Redland Green Secondary School is approximately 500m from the property.

ACCOMMODATION -

Please refer to floorplan for approximate room measurements and internal layout.

LOWER GROUND & HALL FLOOR MAISONETTE (Approx. 234 -

Comprising of a generous kitchen/diner, living room/conservatory, three bedrooms and three shower rooms on the lower ground floor with four further bedrooms and a shower room on the hall floor.

FIRST & SECOND FLOOR MAISONETTE (Approx. 175 sq m) -

Comprising of an open plan kitchen/dining/living room, two bedrooms and two shower rooms on the first floor with two further bedrooms on the second floor.

OUTSIDE -

The property benefits from a good-sized enclosed courtyard garden to the rear.

ENERGY PERFORMANCE CERTIFICATE -

Lower Ground & Hall Floor: D
First & Second Floor: E

HMO LICENSING & PLANNING -

HMO licensing regulations and planning requirements are subject to regular changes, updates and even individual interpretations by the Local Authority. Prospective buyers are therefore required to make their own enquiries with the Local Authority and review the documents contained in the auction legal pack fully to satisfy themselves that the property is compliant in this respect. Maggs & Allen accept no liability in the event that any Licensing or Planning requirements/documents are not in order at the point of sale.

TENURE -

We understand that each maisonette is held on a crossover lease with each owning the freehold to the other. Please refer to the online legal pack for confirmation.

COUNCIL TAX BAND -

Band C.

RENTAL DETAILS -

The lower ground floor and hall floor maisonette was let to students for the 2021/2022 academic year at a rent of £4,025 pcm (£48,300 per annum) and the tenants are due to vacate on 21st July 2022. The first and second floor maisonette will also be sold with vacant possession upon completion.

HMO LICENSING & PLANNING -

HMO licensing regulations and planning requirements are subject to regular changes, updates and even individual interpretations by the Local Authority. Prospective buyers are therefore required to make their own enquiries with the Local Authority and review the documents contained in the auction legal pack fully to satisfy themselves that the property is compliant in this respect. Maggs & Allen accept no liability in the event that any Licensing or Planning requirements/documents are not in order at the point of sale.

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.

Floorplan for Cranbrook Road, Redland, Bristol