231, High Kingsdown, Kingsdown, Bristol, BS2 8DG

Auction Guide £325,000 - For Sale

3
  • For Sale By LIVE ONLINE AUCTION
  • Tuesday 13th September 2022
  • Spacious 3-bedroom student flat investment
  • Let producing £23,760 per annum
  • Single lock-up garage with potential for an additional rent of £150 pcm

A spacious 3-bedroom flat (approx. 969 sq ft), situated on the fifth floor of the popular High Kingsdown development just off St Michael's Hill in Kingsdown. The property is let to three students for the 2022/2023 academic year at an annual rent of £23,760. In addition, there is a single garage that has previously been let separately at £150 per calendar month but will be vacant upon completion. A superb and high-yielding investment in one of Bristol's most sought after locations.

FOR SALE BY AUCTION -

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

VIEWINGS -

By appointment.

SUMMARY -

SPACIOUS 3-BEDROOM STUDENT FLAT WITH GARAGE - LET PRODUCING £23,760 PER ANNUM

DESCRIPTION -

A spacious 3-bedroom flat (approx. 969 sq ft), situated on the fifth floor of the popular High Kingsdown development just off St Michael's Hill in Kingsdown. The property is let to three students for the 2022/2023 academic year at an annual rent of £23,760. In addition, there is a single garage that has previously been let separately at £150 per calendar month but will be vacant upon completion. A superb and high-yielding investment in one of Bristol's most sought after locations.

LOCATION -

The property is situated in a highly convenient location in Kingsdown and benefits from a wide range of local shops, bars and restaurants on St Michael's Hill and Whiteladies Road. Ideally located for access to Bristol University and Bristol Royal Infirmary, the property offers excellent continued rental potential to both student and professional renters.

ACCOMMODATION -

The property is situated on the fifth floor and is accessed via a communal lobby and lift. The flat comprises of a hugely spacious and open-plan kitchen/dining/living room, three double bedrooms, a bathroom and separate shower room.

TENANCY DETAILS -

The property is let to three students on one AST for the period 3 July 2022 - 26 June 2023 at a rent of £23,760 per annum. The tenancy agreement includes guarantors for two of the tenants with the third tenant having paid their share of the annual rent upfront.

GARAGE -

The property includes a single lock-up garage (number 85), situated in the secure undercroft of the building, which has been rented separately to the flat at £150 pcm but will be vacant upon completion.

COMPLETION -

Completion for this lot will be 6 weeks from exchange of contracts or sooner by mutual agreement.

TENURE -

We understand the property is to be sold on the residue of a 999 year lease. Please refer to the online auction legal pack for confirmation and details of current service charge/ground rent payments.

ENERGY PERFORMANCE CERTIFICATE -

Rating: D.

COUNCIL TAX BAND -

Band C.

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 High Kingsdown, Kingsdown, Bristol