SOLD FOR £367,000 - A substantial three-storey period building arranged as 5 self-contained flats (3 x 1-bedroom flats and 2 x studio flats) that are currently let producing approx. £31,564 per annum. The flats would benefit from modernisation and offer scope to increase the annual rental income to a figure in excess of £40,000 per annum following these works. In addition, there is a good-sized garden and a large garage/workshop to the rear. A superb investment/break-up opportunity.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 29 June 2023 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SOLD FOR £367,000 - BLOCK OF 5 FLATS PLUS LARGE GARAGE/WORKSHOP TO THE REAR
DESCRIPTION -
A substantial three-storey period building arranged as 5 self-contained flats (3 x 1-bedroom flats and 2 x studio flats) that are currently let producing approx. £31,564 per annum. The flats would benefit from modernisation and offer scope to increase the annual rental income to a figure in excess of £40,000 per annum following these works. In addition, there is a good-sized garden and a large garage/workshop to the rear. A superb investment/break-up opportunity.
LOCATION -
The property is situated in a highly convenient location on Fishponds Road opposite Eastville Park. Easy access is provided to the M32 and Bristol city centre and a wide range of local amenities are available on Fishponds Road.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
GROUND FLOOR (FRONT) FLAT - A self-contained studio flat with open-plan kitchen area and shower room.
GROUND FLOOR (MIDDLE) FLAT - A self-contained studio flat with separate kitchen, shower room and a private rear garden.
GROUND FLOOR (REAR) FLAT - A self-contained one-bedroom flat comprising of a kitchen/living room, double bedroom, shower room and a good-sized private rear garden.
FIRST FLOOR FLAT - A self-contained one-bedroom flat comprising of a large lounge, separate kitchen, double bedroom and shower room.
TOP FLOOR FLAT - A self-contained one-bedroom flat comprising of a lounge, separate kitchen, double bedroom and shower room.
TENANCY DETAILS -
Please refer to the online legal pack for copies of the tenancy agreements/tenancy schedule.
TENURE -
The property is for sale on a freehold basis, subject to the tenancies of the five flats.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATES (EPCs) -
Ratings: E
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,250 plus VAT (£1,500 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 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.
