33, St. James Place, Mangotsfield, Bristol, BS16 9JB

Auction Guide £155,000 - For Sale

  • 21 March LIVE ONLINE AUCTION
  • Mixed-use investment with garage
  • Potential rental of £18,000pa
  • 6-week completion

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A mixed-use investment property arranged as a ground floor takeaway with a self contained first floor two bedroom flat and garage to the rear. The property is let on a fully repairing and insuring basis at £13,200pa although a rent review is due in January 2025 we would anticipate a potential market rent closer to £18,000per annum. The property is an ideal investment opportunity for those looking to expand their portfolio.

FOR SALE BY AUCTION -

This property is due to feature in our online auction on 21 March 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.

VIEWINGS -

By appointment.

SUMMARY -

MIXED-USE INVESTMENT - MANGOTSFIELD - POTENTIAL RENTAL INCOME OF £18,000PER ANNUM

DESCRIPTION -

A mixed-use investment property arranged as a ground floor takeaway with a self contained first floor two bedroom flat and garage to the rear. The property is let on a fully repairing and insuring basis at £13,200pa although a rent review is due in January 2025 we would anticipate a potential market rent closer to £18,000per annum. The property is an ideal investment opportunity for those looking to expand their portfolio.

LOCATION -

The property is situated in a rank of shops on St James Place, Mangotsfield.

ACCOMMODATION -

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

GROUND FLOOR -

Comprising a seating area, kitchen, rear stores and WC.

FIRST FLOOR -

We understand the first floor was originally arranged as a flat, later converted into an office, and then more recently back to a flat. It is now arranged as two large bedrooms, kitchen, lounge/diner and shower room.
Purchasers should make their own inquiries in regard to the planning position.

OUTSIDE -

We understand the property benefits from a single garage located to the rear.

COMPLETION -

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

ENERGY PERFORMANCE CERTIFICATE (EPC) -

Ratings:
Ground Floor - E
First Floor - E

TENURE -

The property is offered for sale on a freehold basis subject to the lease details.

TENANCY DETAILS -

The property is let on a FRI lease with the current tenancy agreement due for renewal on the 4th January 2030. The lease is subject to a rent review in January 2025. Please refer to the online legal pack for further details.

LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -

Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on 0117 9499000 or email lettings@maggsandallen.co.uk.

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

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.

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.

Floorplan for St. James Place, Mangotsfield, Bristol