A mixed-use property occupying a sizable position on the corner of North street & King William Street, Bedminster (approx. 1672 Sq.Ft.). Comprising a large-scale commercial unit on the ground floor, self contained 1-bedroom flat and two garages to the rear. The property would benefit from a full renovation however offers excellent scope for residential redevelopment (subject to consents).
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 -
SOLD FOR £436,000 - SUBSTANTIAL MIXED-USE CORNER PROPERTY WITH TWO ADDITIONAL GARAGES - POTENTIAL DEVELOPMENT OPPORTUNITY
DESCRIPTION -
A substantial corner plot located at 112 -114 North Street (approx. 1672 Sq.Ft.) Comprising a large ground floor shop, spacious 1-bedroom self-contained flat and two additional garages to the rear. The property has been occupied in recent years however is now available with vacant possession offering a great opportunity for those looking to create a modern mixed-use property as well as offering huge scope for residential conversion subject to consents. A superb redevelopment opportunity situated in the heart of Bedminster.
LOCATION -
The property is situated in a prime location on North Street in Bedminster, offering a wide range of local independent shops, bars and restaurants and easy access is provided to the city centre.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
GROUND FLOOR SHOP -
A substantiates shop approx. 1,185 Sq.Ft comprising shop floor with full windowed front, office, WC and kitchen. Additionally there is two large garages at the rear with access onto King William Street,
FLAT -
Self contained one-bedroom first floor flat with access off King William Street. Comprised 1 double bedroom, living room, large kitchen/diner and bathroom.
COMPLETION -
Completion for this lot will be 8 weeks.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Ratings:
Ground Floor: E
Flat: D
TENURE -
We understand the property to be freehold. Please refer to the legal pack for confirmation.
ADVERTISEMENT BOARD -
Current Rent: £300 Per Annum
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.
