DEVELOPMENT SITE WITH PLANNING GRANTED FOR 2 HOUSES
A level parcel of land currently occupied by a rank of 12 lock-up garages with full planning consent granted for the demolition of the existing garages and the erection of two new semi-detached houses with parking, gardens and balconies. The site is situated on a quiet residential cul de sac with easy access provided to the city centre and Bristol Airport via the A38. A superb opportunity for builders, developers and garage investors.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 14 December 2023 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SOLD FOR £166,000 - RANK OF 12 GARAGES WITH PLANNING GRANTED FOR THE ERECTION OF 2 NEW HOUSES
DESCRIPTION -
A level parcel of land currently occupied by a rank of 12 lock-up garages with full planning consent granted for the demolition of the existing garages and the erection of two new semi-detached houses with parking, gardens and balconies. The site is situated on a quiet residential cul de sac with easy access provided to the city centre and Bristol Airport via the A38. A superb opportunity for builders, developers and garage investors.
LOCATION -
The site is situated on Oldmead Walk, a peaceful cul de sac just off Kings Head Lane on the borders of Uplands and Highridge in South Bristol. Easy access is provided to the city centre and Bristol Airport via the A38.
PLANNING -
Full planning consent was granted on 26 May 2022 for the demolition of the existing garages and the erection of 2 x 2-bedroom semi-detached houses under Application No. 21/01911/F .
PROPOSED HOUSES - 70 m² each -
Each house will comprise two double bedrooms, a study and shower room on the ground floor with an open-plan kitchen/dining/living room and cloakroom on the first floor with two sets of double doors onto a roof terrace. There will be two parking spaces for each house and gardens to the rear.
We anticipate resale values of £285,000 per property equating to a GDV of circa £570,000.
LOCAL AUTHORITY -
Bristol City Council.
GARAGE TENANCIES -
Some of the garages are let on monthly licence agreements as follows. Please refer to the online legal pack for copies of the agreements.
GARAGES 1, 2, 3, 4, & 5 - £185 pcm (£37 pcm per garage)
GARAGES 6 & 7 - £80 pcm (£40 pcm per garage)
GARAGE 10 - £45 pcm
GARAGES 8, 9. 11 & 12 - vacant
TENURE -
Understood to be freehold, please refer to the online legal pack for confirmation.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
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 (£1,500 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.
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email admin@maggsandallen.co.uk
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
